Nassim Taleb, author of “The Black Swan,” told Bloomberg’s
best and brightest that he favors investing in Europe
over the U.S. even with the possible breakup of the single European currency in
part because of the euro area’s superior deficit situation.
Europe’s lack of a centralized government is another reason
it’s preferable to invest in the region, said Taleb, a professor of risk
engineering at New York University whose 2007 best- selling book argued that
history is littered with rare events that can’t be predicted by trends
.
A breakup of the euro “is not a big deal,” Taleb said
yesterday at an event in Montreal hosted by the Alternative Investment
Management Association. “When they break it up, there will be a lot of fun
currencies. This is why I am not afraid of Europe, or investing in Europe. I’m
afraid of the United States....”
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