So the holiday season is here and you have just received a pair of Black Swan goggles. These allow you to spot Financial black swans safely from any distance. Unfortunately due to the warranty restrictions you aren't allowed to profit from your new super powers.
Now imagine you could also travel back in time with your swanky swan goggles. What could you do to prevent the crisis?
Think about it.
It is the regulators dilemma in retrospect. But imagine you are a quant, professor, CEO, banker, legislator etc.
What role could you play? How far would you go to prevent the current problems.
When would you start? and whom would you need to convince to change behaviour, rules etc.?
Over $6 Trillion in "wealth" was being "made" by a freight train of "winners" and before that home ownership was slowly seen as a right that all were entitled to via tax breaks, incentives etc.
So who will you be with the stylish shades to change things for the better?
Those advocating better models, or tighter thinking are indirectly posing such a conjecture. So what would you do and when would you do it?
If you want you can continue the conversation at the Linkedin BlackSwan Group.