[beagle3]

We are not out of the crisis yet. Taleb has been banging this drum for decades, and profited handsomely in 2008, and IIRC also in 2001 and 1998. His lesson was not appreciated by the industry at large during those decades - and it is likely that a couple of years after the end of this crisis (whenever that may be, anywhere from a few month to over a decade), hedging black swans will be cheap again.