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A black swan (Cygnus atratus) in Australia. The black swan theory or theory of black swan events is a metaphor that describes an event that comes as a surprise, has a major effect, and is often inappropriately rationalized after the fact with the benefit of hindsight. The term is based on a Latin expression which presumed that black swans did ...
Taleb criticized risk management methods used by the finance industry and warned about financial crises, subsequently profiting from the Black Monday (1987) and the 2007–2008 financial crisis. [6] He advocates what he calls a "black swan robust" society, meaning a society that can withstand difficult-to-predict events. [7]
Nassim Taleb is well known for his work as a trader and professor, as well as the author of the book " Black Swan." He often concentrates his work on market volatility and the likelihood of ...
The Black Swan: The Impact of the Highly Improbable is a 2007 book by Nassim Nicholas Taleb, who is a former options trader. The book focuses on the extreme impact of rare and unpredictable outlier events—and the human tendency to find simplistic explanations for these events, retrospectively. Taleb calls this the Black Swan theory.
Nicholas stresses therefore the surprising side and unpredictability of the black swan as well as their certainty (or unavoidability). Another concept that comes close to the concept of wild cards and black swans is the tipping point of Malcolm Gladwell's The Tipping Point, which actually is a special form of a wild card that realizes itself by ...
The circumstances of the current market crash might be unique to the coronavirus pandemic, but they lead investors to wonder: are such drops normal for equity markets, or is this really different ...
A business plan is a formal written document containing the goals of a business, ... Templates [3] and guides, such as ... business environment analysis; SWOT analysis;
Taleb extends the definition to include any risk so that "Every captain goes down with every ship". This removes the agency problem or in other words, the "Situation in which the manager of a business is not the true owner, so he follows a strategy that cosmetically seems to be sound, but in a hidden way benefits him and makes him antifragile ...