It's Falkenstein who is the crank. You can tell he's read Taleb's work with a chip on his shoulder (as many have). Taleb's not saying "shit happens," he's saying, "you can't measure risk -- ever." You can approximate portions, like VaR and bond rating agencies, but we've been way too cocky that our measurements cover it all.
I think allegations of "crank"-ness were discussed until about a year ago. September vetted him. End of story.
I think allegations of "crank"-ness were discussed until about a year ago. September vetted him. End of story.