April Fools: A Point of Order, Randomness and Fat Tails
I dunno, perhaps you're one who thinks it's silly -- a person I can be on any given day. On the other hand, if you've followed along you know my affinity for randomness and being fooled. Being fooled is the most important aspect, because we really can't do anything about randomness. And why would we want to? What's life without surprises? April Fools is a decent, once per year exercise in demonstrating just how susceptible we all are. Just this afternoon I caught a blurb on the radio as I was shutting down the car before stepping into the 4th Street Bowl Coffee Shop for their Monday $10.95 ribeye steak lunch special (It's fucking good). I like simple, straightforward, unpretentious cafes; and I'll have to blog about that, one day. The blurb was in reference to some new "government plan" (what else to keep the populace alarmed and yet confident all at once?) to oversee financial markets. The quote went something like this: "And oversee hedge funds so they don't take too much risk." Let's set aside the fact that a hedge fund is prohibited, by law, from even talking to you or showing the public their returns unless you're...