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A comment on Indiana life insurance CEO says deaths are up 40% among people ages 18-64. Parent comment

Re:Indiana life insurance CEO says deaths are up 40% among p... by richardw on Sunday January 02, 2022 @01:05PM (#29771522)
I think Taleb’s point was more that humans don’t have a good intuition for extreme events, layperson or expert. See the housing crisis during which experts and laypeople were equally fooled. We’re good at understanding eg height of people (small variation) but have no sense of wild scale, eg stock market movements or a huge bank imploding within days.
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Re:Indiana life insurance CEO says deaths are up 40% among p... by hn_throwaway_99 on Sunday January 02, 2022 @01:27PM (#29771828)
> See the housing crisis during which experts and laypeople were equally fooled.

Not discounting your main point, but there were plenty of experts and laypeople that were completely unsurprised by the housing crisis. If anything, I think the housing crisis was more of a case that so many people had a vested interest in thinking/pretending the music would never stop.

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Re:Indiana life insurance CEO says deaths are up 40% among p... by richardw on Sunday January 02, 2022 @02:53PM (#29772994)
Totally, I’ll claim to have been very pessimistic before it happened. Referenced the likely downturn in an economics assignment that didn’t impress my very optimistic lecturer. I missed the bottom though, was convinced we were going down a lot further. Don’t fight the Fed, I guess.
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Re:Indiana life insurance CEO says deaths are up 40% among p... by chmod600 on Sunday January 02, 2022 @07:12PM (#29775662)
Been a while since I read it, but I seem to remember a false sense of confidence (caused by belief in a normal distribution) being a major theme.

Regardless, we should be skeptical of the assumption that we're dealing with a normal distribution.

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Re:Indiana life insurance CEO says deaths are up 40% among p... by richardw on Sunday January 02, 2022 @11:35PM (#29777370)
Yeah I think he used the word intuition. Exactly same insight though. I think “recency” is the bias that causes our view that tomorrow will be pretty similar to today. I’ve noticed it in myself, for sure. Market at X? Yup that seems rational. Hard to imagine the market at 2X or 1/2X. Bitcoin blew my mind during the ultra-growth phases.
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