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- Born in 1960
- Native of Lebanon
- Author of The Black Swan
- Founder of the Black Swan Theory
- Has worked on Wall Street
- Predicted a catastrophic collapse of the global economyOfficial Site: Warnings that the Imbeciles Chose to Ignore
- Based predictions on findings of mathematician Benoit MandelbrotOnline NewsHour (PBS): Theorists Examine Economic Turbulence (October 21, 2008)
- Has warned, "Never take advice from anyone in a tie. They'll bankrupt you."Newsweek: Nassim Taleb On The Markets (November 15, 2008)
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Nassim Nicholas Taleb is the best-selling author of the book The Black Swan which describes Taleb's theory with the same name. Taleb took the name of his book and theory from the medieval European assumption that a "black swan" is something that could never exist.Observer: The New Sage of Wall Street (September 28, 2008) However, when Europeans encountered the continent of Africa, they found actual black swans, making what was formerly though impossible, possible.Observer: The New Sage of Wall Street (September 28, 2008) Taleb has popularized the term "Black Swan" to refer to the role of randomness and uncertainty in complex global financial markets.Observer: The New Sage of Wall Street (September 28, 2008)
Black Swan Theory
The Black Swan theory is a theory of randomness and uncertainty. It makes the claim that unpredictable events are much more common than people generally think. The theory is often used to describe the collapse of the financial market in 2008. According to the Black Swan Theory, unpredictable events are the norm and not the exception. The information overflow in today's society results in people interpreting data inaccurately and creating correlations that are not always relevant, when randomness more often is the rule.Newsweek: Don't Trust Anyone In a Tie (November 15, 2008)Quotes
The following quotes are excerpts of Taleb's writing, taken from The Back Swan."Banks hire dull people and train them to be even more dull. If they look conservative, it's only because their loans go bust on rare, very rare occasions. But... bankers are not conservative at all. They are just phenomenally skilled at self-deception by burying the possibility of a large, devastating loss under the rug."Official Site: Warnings that the Imbeciles Chose to Ignore
"The increased concentration among banks seems to have the effect of making financial crises less likely, but when they happen they are more global in scale and hit us very hard... True, we now have fewer failures, but when they occur—I shiver at the thought."Official Site: Warnings that the Imbeciles Chose to Ignore
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Nassim Nicholas Taleb Questions
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Who is Nicholas Cage related to? 2 AnswersI believe he is related to francis ford coppola but changed his last name to cage in order to prove that he could make it on his own merit without the power and... read more -
What was the architectural style established by Nicholas Hawksmoor? 1 AnswerHe generally focused on Churches: read more -
Who is Nicholas Flamel? 1 AnswerBorn in 1330 Nicholas Flamel was a successful scriviner and manuscript seller. He later got a reputation for alchemy with his work trying to turn lead into go... read more -
Who was Nicholas II of Russia? 2 Answershttp://upload.wikimedia.org/wikipedia/commons/thumb/f/f1/Nicolas_II_photographie_couleur.jpg/210px-Nicolas_II_photographie_couleur.jpg --quote-- Nicholas II is ... read more
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@ligadonafacul "A Lógica do Cisne Negro" (Nassim Nicholas Taleb)
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Just finishing Fooled by Randomness by Nassim Nicholas Taleb. Amazing read. http://bit.ly/6igdl0
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stability may merely be an illusion of the sort that the financial guru Nassim Nicholas Taleb writes about. It is achieved only by
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is reading The Black Swan: The Impact of the Highly Improbabl... by Nassim Nicholas Taleb - http://bit.ly/eHkvg
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"Evidence shows that we do much less thinking than we believe we do." --The Black Swan, Nassim Nicholas Taleb
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