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Entries Tagged as 'Nassim Taleb'

The Bed of Procrustes

May 23rd, 2015 No Comments

I first heard the name Procrustes from Nassim Taleb’s lesser known book, The Bed of Procrustes. Procrustes cuts an interesting tale in the Greek mythology not so much about his iron bed as it is about how he ‘stretches’ every passerby to fit his bed. (I suppose the movie The Human Centipede got its inspiration […]

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The turkey under the butcher’s knife

June 6th, 2011 1 Comment

Have you ever wondered how do insurance companies make money? How exactly?? We have heard of some actuarial scientists yes who do all the dirty calculations and who are generally intelligent. However one cuts it, insurance companies must make profit from arbitraging the perceived risks between the issuers (i.e. the insurance companies with all the geeky […]

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