2010-10-13

The Nobel Prize Commitee to be sued?

Apparently, Nassim Nicholas Taleb (more info here: http://www.fooledbyrandomness.com/), wants to sue the Nobel Prize Commitee because they gave the prize to Harry Markowitz, Merton Miller and William Sharpe in 1990.

The 'Sharpe-theory', Taleb argues, is one of the main reasons the world has seen such a financial meltdown. And since the Nobel Prize Commitee has awarded this theory they should be held responsible for the financial loss that a lot of people have experienced in the last couple of years.

I don't know whether Taleb will actually go ahead with this, or whether it's just another way of getting free publicity, but he has really interesting thoughts about economic trade and financial systems that are highly critical of how the market functions right know. More info about his Black Swan Theory you can find here: http://www.fooledbyrandomness.com/tenprinciples.pdf.

The story continues...

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