If you're in to paying attention to accidents or randomness then today's Principle from "The Ten Principles for a Black-Swan Robust Society" by Nassim Nicholas Taleb ("The Black Swan", 2nd ed., 2010) is #6 and it's my sixth reflection. Okay, enough with feeble attempts at significance on my part.
"6. Do not give children dynamite sticks, even if they come with a warning label.
Complex financial products need to be banned because nobody understands them, and few are rational enough to know it. We need to protect citizens from themselves, from bankers selling them 'hedging products', and from gullible regulators who listen to economic theorists."
Can we say the word SCAMS. To me this is what Taleb is saying with this Principle from my simple perspective. BS is another phrase that comes to mind, that is, the purveyors of BS are constantly marketing crap to us commoners all the time. P.T. Barnum at work. "Wolves in sheep's clothing!" "A Trojan Horse!" "Blowing smoke up your....('where the sun don't shine')!"
So I think I should act on my skepticism and inner warning signals and, if I don't, I should only risk what I am fully capable of losing 100% of and it not be a big deal. How about you?
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