Random Maverick Service - We don't know if there is such a thing, or if there is, if we'd like to be subjected to it or have it associated with our business. But each one of those words does sum up the primary theme of one of our trio of MUFSO keynote speakers. Their presentations are recapped at NRN.com and accessible by CLICKING HERE.
Here are a few lines from Taleb's talk:
“The debt level tripled since 1980 in relation to GNP. And there is a problem with debt. Debt makes the system very fragile. When you borrow you can’t make a mistake. When you issue equity, you don’t have the same profitability, but you can make mistakes and in the long run, you survive. Debt is not forgiving. The other problem we have now: a complex world causes crazy things to happen, so you have to be aware that you cannot forecast in a complex world as you can in an normal world. Debt was the elephant in the room [prior to the financial meltdown] that no one at the 'Fed' saw."
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