Alan Greenspan on Risk, Human Nature, and the Future of Forecasting

Greenie has a new book out, and is making the obligatory stops to promote it. The “map and territory” part of the title is reminiscent of John Magee’s great book — way better than the one he co-wrote with Robert Edwards — the General Semantics of Wall Street (reprinted as Winning the Mental Game on Wall Street).
I found it sad to read the comments at Amazon, and even sadder that Bloomberg reporter Sara Eisen took him to task — for what? Having to deal with dysfunctional fiscal policies of the government?

I am in the business where, Harry Truman once said, ‘If you can’t stand the heat, get out of the kitchen’… I apologize for something I did wrong, and I do apologize. I don’t apologize . . . I was doing the best I can. The arguments, some of which are quite accurate is I missed certain forecasts, you don’t apologize for that. Do you? I don’t. We are not omniscient. I am a human being. I cannot see beyond the horizon any more than anyone else can. Now to apologize for not being Superman, I just refuse to do that because that never entered my mind.

Good on Greenie for not taking any crap.