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| taleb_robustness [2009-04-08 07:51] – created 81.188.78.24 | taleb_robustness [2012-04-12 13:51] – nik |
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| via: http://www.ft.com/cms/s/0/5d5aa24e-23a4-11de-996a-00144feabdc0.html?nclick_check=1 | via: http://www.ft.com/cms/s/0/5d5aa24e-23a4-11de-996a-00144feabdc0.html?nclick_check=1 |
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| 1. What is fragile should break early while it is still small. Nothing should ever become too big to fail. | - What is fragile should break early while it is still small. Nothing should ever become too big to fail. |
| 2. No socialisation of losses and privatisation of gains. | - No socialisation of losses and privatisation of gains. |
| 3. People who were driving a school bus blindfolded (and crashed it) should never be given a new bus. | - People who were driving a school bus blindfolded (and crashed it) should never be given a new bus. |
| 4. Do not let someone making an “incentive” bonus manage a nuclear plant – or your financial risks. | - Do not let someone making an “incentive” bonus manage a nuclear plant – or your financial risks. |
| 5. Counter-balance complexity with simplicity. | - Counter-balance complexity with simplicity. |
| 6. Do not give children sticks of dynamite, even if they come with a warning. | - Do not give children sticks of dynamite, even if they come with a warning. |
| 7. Only Ponzi schemes should depend on confidence. | - Only Ponzi schemes should depend on confidence. |
| 8. Do not give an addict more drugs if he has withdrawal pains. | - Do not give an addict more drugs if he has withdrawal pains. |
| 9. Citizens should not depend on financial assets or fallible “expert” advice for their retirement. | - Citizens should not depend on financial assets or fallible “expert” advice for their retirement. |
| 10. Make an omelette with the broken eggs. | - Make an omelette with the broken eggs. |
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| | see also: [[black swan]] (and in more detail [[resilients:taleb's rules]]) |
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nik