Nassim Nicholas Talep “Statistical Consequences of Fat Tails” Published in 2020. A recent read compared to Markowitz “Portfolio Selection” published in “The Journal of Finance”, Vol. 7, No. 1. (Mar., 1952), pp. 77-91. Both of them are must reads. Markowitz passed away on 2023. I wonder if those two guys ever meet each other. If they ever did I wonder if they discussed their own approaches. I will search for it and let you know in future posts…. You can click and read the pdf files I linked the original files.
I found it : See the comment below… I told you it could have been interesting. I had not known the quote but I tought they had opposing point of views on the application of statistics on portfolio desicions. See the below comments …. Amazed and Proud to notice such a detail…
There is no publicly available information confirming a personal meeting between Harry Markowitz, the father of Modern Portfolio Theory, and Nassim Nicholas Taleb, author of “The Black Swan.” However, Taleb has been openly critical of Markowitz’s theories. In a 2008 interview, Taleb stated, “I would ban portfolio theory immediately. It’s what caused the problems.”
Furthermore, in 2010, Taleb expressed his willingness to sue the Swedish Central Bank for awarding Nobel Prizes to economists like Markowitz, whose theories he believes underestimate risks.
While both have significantly influenced financial thought, their interactions appear to be limited to public critiques rather than personal meetings.
For more insights into Nassim Taleb’s perspectives on risk and disorder, you might find the following talk informative: