Praise for Nassim Nicholas Taleb “The most prophetic voice of all.”—GQ Praise for The Black Swan “[A book] that altered modern thinking.”—The Times (London). Nassim Nicholas Taleb's The Black Swan leaves Giles Foden feeling underwhelmed by its theories of improbability. Protect yourself from the most dangerous market events - the type that wipe out people's life savings and force them to start over from zero.


Author: Wade Turner
Country: Turkey
Language: English
Genre: Education
Published: 25 September 2015
Pages: 227
PDF File Size: 26.25 Mb
ePub File Size: 10.39 Mb
ISBN: 480-4-51759-640-4
Downloads: 16211
Price: Free
Uploader: Wade Turner


The Black Swan: The Impact of the Highly Improbable

Summary[ black swan nassim taleb ] Taleb refers to the book variously as an essay or a narrative with one single idea: Part One and the beginning of Part Two delve into psychology.

Taleb addresses science and business in the latter half of Part Two and Part Three. Part Four contains advice on how to approach the world in the face of uncertainty and still enjoy life.

Taleb acknowledges a contradiction in the book.

The Black Swan: The Impact of the Highly Improbable - Wikipedia

He uses an exact metaphor, the Black Swan idea to argue against the "unknown, the abstract, and black swan nassim taleb uncertain—white ravens, pink elephants, black swan nassim taleb evaporating denizens of a remote planet orbiting Tau Ceti.

You need a story to displace a story. Metaphors and stories are far more potent alas than ideas; they are also easier to remember and more fun to read. Umberto Eco's anti-library, or how we seek validation[ edit ] In the first chapter, the Black Swan theory is first discussed in relation to Taleb's coming of age in the Levant.

The author then elucidates his approach to historical analysis.

  • Nassim Taleb's Black Swan Theory Explained | Seeking Alpha
  • The Black Swan: The Impact of the Highly Improbable by Nassim Nicholas Taleb
  • Nassim Taleb's Black Swan Theory Explained
  • See a Problem?
  • Stuck in Mediocristan

He describes history as opaque, essentially a black box of cause and effect. So make sure to pay attention to this video you know how to correctly position yourself in the market.

A black swan is a highly improbable event. There are three characteristics that define a black swan. Second, it has a massive impact.


And third, after it happens everyone comes up with some explanation for it that makes it seem like it actually wasn't random and could have been predicted. In markets, if you're not prepared for a black swan, you're going to end black swan nassim taleb losing a lot of money.


But the question is, how can you prepare if these events are unpredictable? Part of the answer, according to Taleb, is that humans are hardwired to learn specifics when they should be focused on generalities.


We restrict our thinking to the irrelevant black swan nassim taleb inconsequential, while large events continue to surprise us and shape our world. He offers surprisingly simple tricks for dealing with black swans and benefiting from them.

Review: The Black Swan by Nassim Nicholas Taleb | Books | The Guardian

Of Lebanese - or, as he preferred, Levantine - descent but working in New York, he was an option trader and quantative analyst. Mistrusting the "bell-curve" models used by many black swan nassim taleb institutions to mitigate risk, he wrote a book called Fooled by Randomness about the delusions of control and reliability under which labour much of Wall Street, many other businesses - and, indeed, individual human beings.

Fooled by Randomness is a brilliant book. I have it on my shelf. So do many others.

Related Post