Taleb, the author of the black swan and antifragile, serves as a scientific advisor to universa. May 01, 2010 the black swan is a standalone book in nassim nicholas talebs landmark incerto series, an investigation of opacity, luck, uncertainty, probability, human error, risk, and decisionmaking in a world we dont understand. The impact of the highly improbable is a book that focuses on what has now come to be known as the black swan theory. Why are we so often unwilling to accept that life is unpredictable. Apr 17, 2007 the black swan is a standalone book in nassim nicholas talebs landmark incerto series, an investigation of opacity, luck, uncertainty, probability, human error, risk, and decisionmaking in a world we dont understand. Taleb, who also runs a tail risk hedge fund, has long espoused placing, say. Nassim nicholas taleb first made this argument in fooled by randomness, an engaging look at the history and reasons for our predilection for selfdeception when it comes to statistics. With its revolutionary examination of the impact of highly improbable events, this new york times bestseller took the world by storm. The black swan is a landmark bookitself a black swan. Jun 02, 2008 a condensed guide to life from the bestselling author of the black swan, nassim nicholas taleb s the bed of procrustes is an invaluable collection of aphorisms navigate the modern world. Mild randomness, my chapter with benoit mandelbrot in your book. Black swans and the problems of probability author nassim nicholas taleb discusses his theory about events he calls black swans occurrences. According to talebs new book, the black swan, life is infused with unpredictability.
In fact, the scholar and author of the black swan has never, ever borrowed a penny, he tells esquire. Nassim nicholas taleb, david chandler, recorded books. It represents nassim nicholas taleb s view of modern civilizations hubristic side effects. This book is about the absolutely unexpected, the black swan you would never suspect if you only saw white swans all your life. The black swan by nassim nicholas taleb ft business book of. Black swan funds spend a certain amount of capital each year lets say 10% of the portfolio value to buy far outofthemoney options on assets that the portfolio manager believes ripe. May 11, 2010 praise for nassim nicholas taleb the most prophetic voice of all. Taleb wrote about the idea of a black swan event in a 2007 book prior to the. According to taleb s new book, the black swan, life is infused with unpredictability. Mar 24, 2008 the future has always been crazier than we thought with nassim nicholas taleb. A tailrisk hedge fund advised by nassim taleb, author of the black swan, returned 3,612% in march, paying off massively for clients who invested in it as protection against a plunge in stock prices. The black swan is a standalone book in nassim nicholas taleb s landmark incerto series, an investigation of opacity, luck, uncertainty, probability, human error, risk, and decisionmaking in a world we dont understand. The bed of procrustes takes its title from greek mythology.
Bestselling author nassim nicholas taleb continues his exploration of randomness in his fascinating new book, the black swan, in which he examines the influence of highly improbable and unpredictable events that have massive impact. He was a pioneer of tail risk hedging now sometimes called black swan. Praise for nassim nicholas taleb the most prophetic voice of all. Everyday low prices and free delivery on eligible orders. Taleb has made his living and a small fortune, now transformed into a large fortune by the 2008 market in an unusual way by financial speculation in contexts where he spots a small chance of making a very large gain. The bestselling author of the black swan and the hottest thinker in the world sunday times is back with a book challenging many of our longheld beliefs. Once upon a time there was a clever young financial professional called nassim nicholas taleb. May 02, 2018 nassim talebs black swan explained in this video youll learn about black swan theory, which the famous author and quant trader nassim taleb made popular. The impact of the highly improbable by taleb, nassim nicholas and a great selection of related books, art and collectibles available now at. Nicholas blincoe gets to grips with nassim talebs antifragile and a wave of thinkers who use numbers to explain our world. Through a number of examples, the author aims to show his readers how rare and unpredictable events have a deep and lasting impact on a persons life. Apr 25, 2018 nassim nicholas taleb doesnt like to carry any debt. His book is hard reading and people are either going to like this book or hate it. A black swan event is a significant unexpected event that has huge consequences such as the banking collapse of 2008 or a terrorist attack such as 911.
Black swan author nassim taleb has never, ever borrowed a. Mr taleb, author of the best selling economics book black swan, was described in some newspaper reports as a climate change denier and was reported to have said that market crashes are. As another example, the previously successful hedge fund. The black swan is a standalone book in nassim nicholas talebs landmark incerto series, an investigation of opacity, luck, uncertainty, probability, human error, risk, and decisionmaking in a world we dont understand.
Jun 03, 2009 nassim nicholas taleb s empirica kurtosis black swan fund had lousy performance in 2001, the mother of all black swans, and wound up in 20045 with mediocre performance. Nassim nicholas taleb is a lebaneseamerican of antiochian greek descent essayist, scholar, statistician, and former option trader and risk analyst, whose work concerns problems of randomness, probability, and uncertainty. Apr 27, 2007 oliver burkeman examines the black swan theory of chance. The black swan book summary by nassim nicholas taleb. Nassim taleb is a literary essayist, hedge fund manager, derivatives trader and. Chris anderson, editor in chief of wired, author of the long tail. For nassim nicholas taleb, black swans underlie almost everythin a black swan is a highly improbable event with three principal characteristics. The black swan 363 merely throwing together random materials only to be shocked that the resul t could, for instance, be used to get around town more rapidly. Black swans dramatically change the reality of those, who arent aware that theyre coming. The black swan author in praise of the risktakers the writer and former options trader nassim taleb talks to margareta pagano about. Nassim talebs black swan explained in this video youll learn about black swan theory, which the famous author and quant trader nassim taleb made popular. Dec 03, 2012 nicholas blincoe gets to grips with nassim talebs antifragile and a wave of thinkers who use numbers to explain our world. Nassim nicholas taleb s treasure chest of a book and new york times bestseller, the black swan, explores the nature of unpredictable events of huge consequence it sheds light on fundamental errors of thought.
Nassim talebs universa investments crushed it business insider. The impact of the highly improbable 01 by taleb, nassim nicholas isbn. The comfortable but potentially devastating lies we are told by others, and ourselves. The impact of the highly improbable by naseem nicholas taleb this books deal with the impact of extreme events, the outliers, unpredictable, unfathomable, rare and random episodes. Feb 28, 2008 the black swan by nassim nicholas taleb, 9780141034591, available at book depository with free delivery worldwide. Even taleb was stunned by the success of his books, first.
Books by nassim nicholas taleb author of the black swan. Nassim taleb calls an event a black swan if its unpredictable not because its random, but because our outlook on whats possible was too narrow. The impact of the highly improbable though not the first person to use the term, talebs book popularized black swan theory regarding rare outlier events and problems with prediction. May 21, 2007 black swans and the problems of probability author nassim nicholas taleb discusses his theory about events he calls black swans occurrences that seem to be totally impossible. Author nassim nicholas taleb discusses his book, the black swan in relation to predicting the future, learning from. The impact of the highly improbable unabridged by nassim nicholas taleb paid audiobooks best sellers.
The term was popularized by nassim nicholas taleb, a finance professor, writer. The impact of the highly improbable is a 2007 book by author and former options trader nassim nicholas taleb. The impact of the highly improbable changed the way i trade. A former trader, he is currently distinguished professor of risk engineering at new york university. This book analyzes socalled black swansextremely unpredictable events that have massive impacts on human society. The impact of the highly improbable audible audio edition.
Nassim taleb, the former options trader who predicted the 2008 financial crisis in his bestseller the black swan, said investors stung by the coronavirus crisis are paying the price for ignoring. Nassim nicholas taleb spends most of his time as a flneur, meditating in cafs across the planet. As nassim nicholas taleb reveals, we are hardwired not to truly estimate risk, too vulnerable to the impulse to simplify, narrate, and categorize and not open enough to rewarding those who can imagine the impossible. Taleb, of course, refers to numerous historical examples of things that have come completely out of the blue. The future has always been crazier than we thought with nassim nicholas taleb. 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. But he is best known these days as the author of the black swan. In this revelatory book, taleb explains everything we know about what we dont. The black swan by nassim nicholas taleb penguin books. There isnt a great deal to say about black swan events once youve defined them other than that theres not much you can do to prevent them as they are unpredictable. The author of the black swan is nassim nicholas taleb, who spends a lot of his time relaxing in different places all over the world. The black swan author in praise of the risktakers the writer and former options trader. He is the author of fooled by randomness and the black swan, an international bestseller which has become an intellectual, social, and cultural.
A black swan is a surprising or virtually unpredictable event that can have a massive impact. Taleb says portfolios to blow up without tail hedges. Nassim taleb s observation, in his book the black swan, is that, after the fact, we concoct a narrative to explain it. The black swan is the second book in former options trader nassim nicholas taleb s fivevolume series on uncertainty.
Finally an intelligent approach to black swan investing. Gq praise for the black swan a book that altered modern thinking. Maverick thinker nassim nicholas taleb had an illustrious career on wall street before turning his focus to his black swan theory. Black swan author nassim taleb has never, ever borrowed. Sep 09, 2009 nassim nicholas taleb s the black swan. His 2007 book the black swan has been described by the sunday times as. Apr 27, 2010 a black swan, for the sake of this discussion, has three primary characteristics. Nassim nicholas taleb doesnt like to carry any debt.