SKIN IN THE GAME SUMMARY (BY NASSIM TALEB)
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- Опубликовано: 28 май 2024
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In this video I will present my top 5 takeaways from Skin in the Game, by the author, statistician, philosopher and (most importantly!) former trader, Nassim Taleb.
A playlist of Nassim Taleb's greatest works: bit.ly/2Op6AA5
Top 5 takeaways:
00:00 Intro
00:31 1. What is Skin in the Game?
02:58 2. Three Implications of Skin in the Game
06:49 3. Inequality VS Inequality
09:41 4. Ergodicity (Ergodic Theory)
13:30 5. How can the Investor use Skin in the Game to his Advantage?
A playlist of Nassim Taleb's greatest works: bit.ly/2Op6AA5
Thanks for your hard work and your contribution to raising the collective awareness of society. Highly appreciated
"those that do not take risks should never be involved in decision making" - that's deep
thats stupid. if you take risk it does not mean you are conscious about it, so I would say that people who do not take responsibility should not be involved in decision making
@@xbozon6712 well i think that's part of it too, you have to share in the risk and responsibility, the downside and upside, as he is saying. It can't be asymmetrical either way
No its not.
@@xbozon6712 responsibility is risk
this review makes me want to read the very book
I just want to say that this os one of the best Channels of RUclips. Love from Brazil
I honestly love your channel, thanks a LOT!
I hope your channel continues to grow. Relaying information in a concise and simple manner (as to a child) is an incredibly rare and powerful skill that even the most intelligent don't possess, which is why they make horrible teachers.
Good video. Keyboard cat made me smile. The point about the silent majority reminds me of a Napoleon quote:
"Ten people who speak make more noise than ten thousand who are silent."
Cheers Jeffrey Kosmas 🙌
Perfectly structured. You're getting to send a solid message with the video. I can do nothing but admire you for this one.
I appreciate it a lot Nikolay Zapryanoff! Glad you enjoyed the video 🙌
Great summary! This video presented a lot of interesting thoughts that has spurred reflection on experiences in my own life.
Thanks for your summaries, I really enjoy them🙂
You teach so well with amazing, easy-to-understand examples!
Hey Salim azizi60 I appreciate your support! Glad that you like the content, and I hope that I'll be able to provide you with more value on this channel in the future! Cheers! 🌟
Dude, I was looking for a good summary. Now I found it. You have a playlist for Incerto?
I read the book last year and like it a lot. Taleb is a moral pillar of our time!
Thanks again! You've tripled in subscribers since then too. Routing for you!
No worries man, thank for your continued support! I'm very happy (and a bit perplexed) to see that the channel has grown so fast lately 😁
Favourite channel for stock market knowledge.
Love from Nepal
I have learned a lot from your videos, will check out some of the books you summarized and appreciate your efforts.
ComicBooks4Lizife, I appreciate it! Cheers!
Great stuff. Thanks for the summary
I love this series Erik! Thank you so much for putting it together, you inspired me to goo ahead and make a series of videos on Nassim Taleb as well that I just published on my channel. Fortsätt det fantastiska arbetet bror!
Cheers and thanks for the support! Best of luck with your channel!
The curse of modernity is that we are increasingly populated by a class of people who are better at explaining than understanding, or better at explaining than doing.
Nice summary .. Keep it up...
Hahaha Nassim Taleb vs Academia 😁
This was great thank you.
Thanks for the summary. It becomes much easier to understand the "works" of yet another rationalist simpleton. I can dispose of the book now.
Excellent.
great videos sir. i myself am a fan of NNT, this is an excellent summary.
YuXiang CYX, thank you! Taleb is truly inspiring, his books are paradigm-challenging and provide a lot of examples, which I enjoy a lot
Thank you for the effort. Love it. What's your favorite information source for identifying companies with leadership, who have meaningful skin in the game?
Thank you Sam Khandelwal 😀 Ownership in the company which represents a significant part of the manager in question's total wealth is a great incentive for doing well 👍 Information about the number of shares that the top management own can usually be found in annual reports from the company, but I guess it varies from one country to another. Co-founding is of course a great indicator too - large ownership or not. Emotional incentives rather than economical ones.
You can try reading 'Good to Great' by Jim Collins
Sweet Foley work
You should have used Eddie Lambert of Sears as an example of a CEO with no skin in the game and taking action that favored the executive team.
Thank you for this series of videos. I would be obliged if you can explain to me "having a portfolio insured at -15%" and how one can achieve that? Thanks again.
I think you confused credit default swaps and collateralized debt obligations(CDO)
0:50 chill bro...
wow nice
Thank you C M, love the support! 👍
Wow..thanks great explanation
Thank you nikhilmehta83 🙌 Very much!
Fictional health related reasons, love it (4:10)
#1 use someone else;s skin to cover yours - the bankers with bailout
#2 put your skin on the line - the entrepreneur with risks.
#3 your skin is used by #1
Hehe, or you'll make sure to finance your company with an absurd amount of debt instead of equity. Have the bankers at the wrong end of the asymmetry for once 😁
Hi...are you reading all these books or audio!? If both...which medium you find retains more information? Thanks again 🙋
I am using both at the same time, whenever that is possible. All books don't come with audio unfortunately 😊 Difficult to say which one that gives me the most - but I know that combining them gives me more than any single one of them, so I just always go for that 👍
@@TheSwedishInvestor awesome!! Maybe 1 day we Wil be listening to the top 5 takeaways from YOUR book!! 😁🙏
I trust this sum up because he has skin in the game
Great summary! I do enjoy your channel but I have a small issue- if it would be possible not to use loud audio effects as it is annoying and not really necessary:) thank you in advance!
love the content but honestly turned it off for twice when the bomb sound effect nearly deafened me
I really enjoy your content and the work you put in Swedish Investor! I was surprised though by your comment about vegan/plantbased food having "fictional health benefits" when all research and science points to it having exactly that (people having more normal BMI, having less lifestyle diseases like diabetes, heart problems, cancer etc). So there is no doubt it is more healthy. A lot of elite athletes perform better on vegan diets and recover faster after workouts. Just my 2 cents. Keep up the good work :)
The comment felt to be an oddly unfounded opinion thrown in to an otherwise impartial video.
@@privateuser8712 Thats the thing, its neither an opinion or unfounded. Its science. And its counter productive to the whole dietary green transition the world needs to go through if we frame all the good changes in a negative way.
Here we are on the verge of the largest transfer of wealth in history talking about what should be.
Will i able to understand the book(I am not smart) or what can I do to understand it ?
The examples are rather extreme. I think “skin in the game” means you have something (not everything) especially money that will be lost if you fail.
Hey man you must consider writing a book now, i will be the first to buy .love your work.
Skin in the game is one basic principle of islamic finance. There are things to learn from others...
awesome videos! but please stop making the random sound effects (like the explosion) so LOUD!! Hurt my ears.
There were a lot of commercial breaks. I hope Erik Abrahamsson profited from these instead of evil google, lol
what does the minority rule have to do with skin in the game? who has skin in the game in this case?
The minority has 😊 it just shows how some people may have greater incentives than others. For example the person who is allergic to peanuts. If there are no peanuts on the plane, he'll get a reward - he'll get to travel to the place he wanted. However, if there are peanuts on the plane, he'll be penalized - he won't be able to board the plane at all. The "majority" do not have skin in the peanut game because they don't have this downside.
nassim nicholas taleb movies?
? vs fooled by randomness 2001
black swan 2010 vs the black swan 2007
? vs antifragile 2012
skin in the game 2019 vs skin in the game 2018
Hey man the bomb sound is just to loud, but a wondelful summery...
Do you read all of these books?
Among the videos that I've published I've read all the books but one of them ... See if you can identify which one 😉
@@TheSwedishInvestor
The one you didn't record your voice, right?
Buffet is not an inventory. Buffet is a business man, a speculator, who buys and sells companies.
A lot of founders make really bad CEOs because of ego clash so there ought to be an upper limit to skin in the game. Too much skin in the game doesn't make for good leadership.
It's hard to admit, but I totally agree.
how does minority rule has to do with skin in the game?
The minority who is deciding are those with the most skin in the game 😊 They get to decide simply because they are most involved in the outcome.
@@TheSwedishInvestor huh interesting!
I want to be told the race and sex of the pilot of every plane I am about to board.
Nesecito aprender inglés 😌
I tried the book but found it insufferably rambling, with lots of petty score-settling with other authors and academics (apparently that's the Marmite like charm of Taleb). I seem to remember something about Lindy and still not having a real clue what that means (survivorship being an indicator of continued survival...? Profound!)
~ 15:30 Management stock options nominally give the executives skin in the game - but are often gamed so much that they become asymmetric (Rubin trades), ending up little more than guaranteed bonuses with no call back if TSHTF later. Investors who are meant to guard against such management excesses rarely do, which seems to be a major flaw in shareholder capitalism.
Most intolerant wins🏆
who is here from yogavsmatt?
Me lmao
Be careful of majority owners too.
5 ads, wtf? great summary otherwise
A lot of great things here, but I do think the minority rule is judged too highly. The "family going vegan for a single family member" example doesn't really happen in real life.
Please no sound effects, they are quite annoying.
fictional reasons XD XD
is the annoying sound effect really necessary T_T
Sucks how you emphasized ''fictional'' health benefits on having a vegan diet :/
Nassim taleb is overated
Vegan: People with "Fictional Health Reasoning"
wwhahhahah
“Fictional health related reason” hahahhaha 🤣
Ur world map remove Sri Lanka and many more country 😂😂
stop making these noises!! or at least make them the same intensity as your voice.
Credit default swaps are NOT asset backed securities, they are derivatives of them, and used totally differently!! You mean CDOs - collateralised debt obligations!! Is Taleb really this stupid??? He is terrible at his job.