Hacker News Reader

Comment by memoriyato3 | Hacker News Reader

to quote Taleb: those who can, do (trade). those who can't, write about it (financial press)

Taleb is literally mostly an influencer who once traded (and sucked at it).

Taleb made a lot of money trading, his firm failed but running a successful business is not trivial and his ideas ended up working when he took up an advisory role rather than an executive role. Unlike other financial "influencers", he actually seems to understand mathematics to a high degree.

Hardly your typical economist op ed writer.

He made money when he was working for other people. He did not make money when he tried to trade off his ideas. That was 25 years ago, since then he just broadcasts his ideas.

No skin in the game, as it were.

You don't have to be self-employed to have skin in the game, that's ridiculous.

How many op ed writers have tried to have skin in the game at all? How many of them produce writing which is actually high quality and not just concern trolling about China or what have you?

I like to say, traders and people you put money on the line are often far more honest about economic policy, than economic influencers like The Economist.

Traders have no more special insight into economic policies than anyone else. The economy != the market.

The quote originated with George Bernard Shaw back in 1903, not Nassim Taleb. And it has always been a lazy take. Some people just prefer to write (or teach).

Reply on news.ycombinator.com