The author of "Black Swan", Nassim Taleb, says that investors should sue the Nobel Prize committee for legitimizing the work of Markowitz, Miller and Sharpe. Taleb made his name by arguing that standard portfolio theory understates the likelihood of severe events. He's clearly got a flair for garnering publicity, but I really think his 15 minutes are up.
I've posted on Talib before.
In other news, Taleb is planning to sue the estate of the Wright Brothers for losses incurred because of airplane crashes.
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