[epub pdf] Skin in the Game: Hidden Asymmetries in Daily LifeAuthor Nassim Nicholas Taleb – Schematicwiringdiagram.co

I was really looking forward to this as a fan of Fooled by Randomness but half way through I m beginning to think NNT is a pompous ass and a bore to boot At the age of 70, I wonder if the time left to me is best served by ducking out of the rest of this waffle or to soldier on in search of nuggets of wisdom.UPDATE I did carry on to the end of the book for old times sake I left it feeling that Taleb is like a friend who has some dodgy politics, likes to make a lot 0f controversial remarks, occasionally makes some insightful points, can be amusing and can also be a crashing bore In other words, you re pleased to see your old friend but rather relieved when he finally leaves and glad to have a bit of time away from each other before meeting up again. Exposes another angle, an angle that is concealed by the ruling class Majority base their decisions on what they are told by the controlling wealthy, powerful ruling class This book blows out of the water, the myth that the so called experts , know what they are talking about When in fact, not a single one of them has actually ever invested their own blood sweat Well worth the read. This book is a far easier read than the author s previous writings Which is good because the deep seated intellectual insecurity to which Mr Taleb confessed and committed himself to protecting and cultivating in the preface to Fooled by Randomness 2001 appears sadly to have got the better of him.Some 1,150 days of seclusion in the years following The Black Swan 2007 afforded time not only to devour the 550 or so books listed in the bibliography to the much lengthier Antifragile 2012 but also to develop what he himself previously detested the random use of borrowed wisdom though it was fascinating to read why use of the wheel initially disappeared from the Levant after the Arab invasion and to wield his keyboard repeatedly and unkindly to hammer perceived nails in the shape of some fine fellow professionals with whom he now finds himself increasingly and violently disagreeing.In Skin in the Game we see these aberrations taken even further with surprisingly gratuitous and sarcastic references Hillary Monsanto Malmaison, sometimes known as Hillary Clinton and Joseph Stiglitz as Intellectual Yet Idiot along with random Daily Mail type stories about how increased halal lamb imports from New Zealand and the numbers of automatic shifting vehicles are instances of minority dictatorship and how Italians regard McDonalds in Milan Centrale as refuge from a risky meal Mr Taleb has of course written that it s only when you don t care about your reputation that you tend to have a good one, but it seems to me that after accumulating a steady stream of positive returns he has given us his own unfortunate, highly unexpected event. An entertaining read Full of thoughtful observation and insight Written in a style that comes with the freedom to say what one thinks.In many ways this is a deeply moral book with important messages for how we live This realization becomes suddenly clear in the rather poetic epilogue, which I loved Collective action the game generates many meaningful benefits, but, to be symmetrical and ethical, it always requires contribution of players, and contribution implies risk the skin Taleb has no time for people in authority who don t get this and consequently promote dangerous ideas which lead to ignorant policy or business decisions For them he reserves his full scorn for example, in his view, Monsanto and its dangerous development of GM crops Through ignorance, they risk catastrophically ruining the systems we depend on for everyone for ever.On the downside, Taleb s style of relentlessly speaking truth to power can feel a bit uncomfortable and negative However we are compensated by his practical, ethical and logical reasoning made clear in an appendix devoted to the maths that underpins the conclusions, and further leavened with fascinating personal stories.By the way, like many books it s one worth starting at the back with the glossary, where you will be able to learn to speak Taleb. THE TOP TEN BESTSELLER From the bestselling author of The Black Swan, a bold book that challenges many of our long held beliefs about risk and reward, politics and religion, finance and personal responsibilityWhy should we never listen to people who explain rather than do Why do companies go bust How is it that we have slaves today than in Roman times Why does imposing democracy on other countries never work The answer too many people running the world don t have skin in the game In his inimitable, pugnacious style, Nassim Nicholas Taleb shows that skin in the game applies to all aspects of our lives It s about having something to lose and taking a risk Citizens, lab experimenters, artisans, political activists and hedge fund traders all have skin in the game Policy wonks, corporate executives, theoreticians, bankers and most journalists don tAs Taleb says, The symmetry of skin in the game is a simple rule that s necessary for fairness and justice, and the ultimate BS buster, and Never trust anyone who doesn t have skin in the game Without it, fools and crooks will benefit, and their mistakes will never come back to haunt them