Zen master of risk

Here's Nassim Taleb trying to explain his views of risk to the market cheerleaders on the TV:



While I hadn't heard him speak on the topic before today, my own view of the market meltdown (that almost exactly jibes with his) was directly informed by reading his books. The man is brilliant, but I think he's a bit too risk adverse. Just because a risk is unknowable doesn't mean it should be avoided at all costs. Rather, in a lot of situations it is better to just embrace the variance. Fortuna favors the bold.

[thanks to Barry Ritholz for the link]