The Black Swan By Nassim Nicholas Taleb Summary
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The Black Swan By Nassim Nicholas Taleb Summary
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Author : QuickRead
language : en
Publisher: QuickRead.com
Release Date :
The Black Swan By Nassim Nicholas Taleb Summary written by QuickRead and has been published by QuickRead.com this book supported file pdf, txt, epub, kindle and other format this book has been release on with Study Aids categories.
Do you want more free book summaries like this? Download our app for free at https://www.QuickRead.com/App and get access to hundreds of free book and audiobook summaries. The Impact of the Highly Improbable. Just because you haven’t seen something doesn’t mean it doesn’t exist, right? Well, Nassim Nicholas Taleb uses this exact logic to explain the Black Swans that happen in our society. A Black Swan is an improbable or highly unlikely event that has three principal characteristics. The first two are that it is unpredictable and it carries a massive impact. The third is the ability to construct an explanation after the fact to make it appear less random, and more predictable. Think of events like 9/11 or the invention of Google. These Black Swans, while unpredictable and impactful, could easily be explained in the moments following the event. Black Swans like these underlie almost everything about the world. But why can’t we acknowledge them until after they occur? Well, according to Taleb, humans are simply hardwired to focus on the details rather than see the big picture. We concentrate only on what we know and understand; therefore, we are unable to conceptualize the impossible. As you read, you’ll learn that we can learn a thing or two from turkeys, you'll see how a casino's greatest threat isn't high-rolling gamblers, and how focusing on what we don't know is critical for making informed decisions.
Summary Of The Black Swan By Nassim Nicholas Taleb The Impact Of The Highly Improbable
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Author : Ctprint
language : en
Publisher:
Release Date : 2020-03-03
Summary Of The Black Swan By Nassim Nicholas Taleb The Impact Of The Highly Improbable written by Ctprint and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-03-03 with categories.
Summary of The Black Swan By Nassim Nicholas Taleb - The Impact of the Highly Improbable SYNOPSIS: Thе Black Swаn (2010) оffеrѕ insights into реrсеіvеd rаndоmnеѕѕ аnd thе limitations we face іn mаkіng predictions. Our оvеr-rеlіаnсе оn mеthоdѕ thаt арреаl to оur intuition аt thе expense оf ассurасу, our basic іnаbіlіtу tо undеrѕtаnd аnd define rаndоmnеѕѕ, аnd еvеn our bіоlоgу іtѕеlf аll соntrіbutе tо poor decision making, and ѕоmеtіmеѕ tо "Blасk Swans" - events thоught tо bе impossible that redefine оur undеrѕtаndіng оf the world. ABOUT THЕ AUTHОR: Nassim Nісhоlаѕ Taleb іѕ among thе more prolific contemporary есоnоmіѕtѕ and thіnkеrѕ, hаvіng written a number оf сrіtісаllу ассlаіmеd wоrkѕ such аѕ Fooled bу Rаndоmnеѕѕ, аnd his numеrоuѕ еѕѕауѕ hаvе bееn рublіѕhеd in a number оf mаgаzіnеѕ аnd jоurnаlѕ. Tаlеb іѕ a Distinguished Prоfеѕѕоr оf Risk Engineering аt Nеw Yоrk Unіvеrѕіtу'ѕ Pоlуtесhnіс Inѕtіtutе.DISCLAIMER: This bооk іѕ nоt mеаnt tо rерlасе thе оrіgіnаl bооk but tо ѕеrvе аѕ a companion tо іt.
The Black Swan
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Author : Nassim Nicholas Taleb
language : en
Publisher: Random House Digital, Inc.
Release Date : 2009-10-13
The Black Swan written by Nassim Nicholas Taleb and has been published by Random House Digital, Inc. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-10-13 with Forecasting categories.
In the author's point of view, a black swan is an improbable event with three principal characteristics - It is unpredictable; it carries a massive impact; and, after the fact, we concoct an explanation that makes it appear less random, and more predictable, than it was. Why do we not acknowledge the phenomenon of black swans until after they occur? Part of the answer, according to Taleb, is that humans are hardwired to learn specifics when they should be focused on generalities. We concentrate on things we already know and time and time again fail to take into consideration what we don't know. We are, therefore, unable to truly estimate opportunities, too vulnerable to the impulse to simplify, narrate, and categorize, and not open enough to rewarding those who can imagine the 'impossible'.
Summary Of The Black Swan The Impact Of The Highly Improbable By Nassim Nicholas Taleb
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Author : Thorough Thorough Summaries
language : en
Publisher:
Release Date : 2021-05-18
Summary Of The Black Swan The Impact Of The Highly Improbable By Nassim Nicholas Taleb written by Thorough Thorough Summaries and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-18 with categories.
Thе Black Swаn (2010) оffеrѕ іnѕіghtѕ іntо perceived rаndоmnеѕѕ and thе limitations we fасе іn making рrеdісtіоnѕ. Our оvеr-rеlіаnсе on mеthоdѕ thаt арреаl to our іntuіtіоn at thе expense of ассurасу, our bаѕіс іnаbіlіtу tо undеrѕtаnd аnd define randomness, аnd еvеn оur bіоlоgу іtѕеlf аll contribute tо рооr dесіѕіоn making, and ѕоmеtіmеѕ to "Blасk Swаnѕ" - еvеntѕ thought tо bе impossible thаt rеdеfіnе оur undеrѕtаndіng оf thе wоrld.
The Bed Of Procrustes
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Author : Nassim Nicholas Taleb
language : en
Publisher: Penguin UK
Release Date : 2010-12-02
The Bed Of Procrustes written by Nassim Nicholas Taleb and has been published by Penguin UK this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-12-02 with Philosophy categories.
In this profound and playful book, Nassim Nicholas Taleb presents his ideas about life in the form of aphorisms, the world's earliest - and most memorable - literary form. Procrustes was a character from Greek mythology who abducted travellers and invited them to spend the night in a special bed, which they had to fit to perfection. They never did. Those who were too tall had their legs chopped off; those who were too short were stretched. Every aphorism here is about a Procrustean bed of sorts - we humans, facing the limits of our knowledge, the unseen and the unknown, resolve the tension by squeezing life and the world into crisp commoditized ideas, reductive categories, specific vocabularies and pre-packaged narratives. Only by embracing the unexpected - and accepting what we don't know - can we see the world as it really is.
Skin In The Game
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Author : Nassim Nicholas Taleb
language : en
Publisher: Penguin UK
Release Date : 2018-02-20
Skin In The Game written by Nassim Nicholas Taleb and has been published by Penguin UK this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-02-20 with Business & Economics categories.
From the bestselling author of The Black Swan, a bold book that challenges many of our long-held beliefs about risk and reward, politics and religion, finance and personal responsibility 'Skin in the game means that you do not pay attention to what people say, only to what they do, and how much of their neck they are putting on the line' Citizens, artisans, police, fishermen, political activists and entrepreneurs all have skin in the game. Policy wonks, corporate executives, many academics, bankers and most journalists don't. It's all about having something to lose and sharing risks with others. In his most provocative and practical book yet, Nassim Nicholas Taleb shows that skin in the game, often seen as the foundation of risk management, in fact applies to all aspects of our lives. In his inimitable style, Taleb draws on everything from Antaeus the Giant to Hammurabi to Donald Trump, from ethics to used car salesmen, to create a jaw-dropping framework for understanding this idea. Among his insights: For social justice, focus on symmetry and risk sharing. Minorities, not majorities, run the world. You can be an intellectual yet still be an idiot. Beware of complicated solutions (that someone was paid to find). Just as The Black Swan did during the 2007 financial crisis, Skin in the Game comes at precisely the right moment to challenge our long-held beliefs about risk, reward, politics, religion and business - and make us rethink everything we thought we knew.
Fooled By Randomness
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Author : Nassim Nicholas Taleb
language : en
Publisher: Random House
Release Date : 2008-10-14
Fooled By Randomness written by Nassim Nicholas Taleb and has been published by Random House this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-10-14 with Business & Economics categories.
Fooled by Randomness is a standalone book in Nassim Nicholas Taleb’s landmark Incerto series, an investigation of opacity, luck, uncertainty, probability, human error, risk, and decision-making in a world we don’t understand. The other books in the series are The Black Swan, Antifragile, Skin in the Game, and The Bed of Procrustes. Fooled by Randomness is the word-of-mouth sensation that will change the way you think about business and the world. Nassim Nicholas Taleb–veteran trader, renowned risk expert, polymathic scholar, erudite raconteur, and New York Times bestselling author of The Black Swan–has written a modern classic that turns on its head what we believe about luck and skill. This book is about luck–or more precisely, about how we perceive and deal with luck in life and business. Set against the backdrop of the most conspicuous forum in which luck is mistaken for skill–the world of trading–Fooled by Randomness provides captivating insight into one of the least understood factors in all our lives. Writing in an entertaining narrative style, the author tackles major intellectual issues related to the underestimation of the influence of happenstance on our lives. The book is populated with an array of characters, some of whom have grasped, in their own way, the significance of chance: the baseball legend Yogi Berra; the philosopher of knowledge Karl Popper; the ancient world’s wisest man, Solon; the modern financier George Soros; and the Greek voyager Odysseus. We also meet the fictional Nero, who seems to understand the role of randomness in his professional life but falls victim to his own superstitious foolishness. However, the most recognizable character of all remains unnamed–the lucky fool who happens to be in the right place at the right time–he embodies the “survival of the least fit.” Such individuals attract devoted followers who believe in their guru’s insights and methods. But no one can replicate what is obtained by chance. Are we capable of distinguishing the fortunate charlatan from the genuine visionary? Must we always try to uncover nonexistent messages in random events? It may be impossible to guard ourselves against the vagaries of the goddess Fortuna, but after reading Fooled by Randomness we can be a little better prepared. Named by Fortune One of the Smartest Books of All Time A Financial Times Best Business Book of the Year
Summary The Black Swan The Impact Of The Highly Improbable By Nassim Nicholas Taleb
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Author : Shortcut Edition
language : en
Publisher: Shortcut Edition
Release Date : 2021-06-17
Summary The Black Swan The Impact Of The Highly Improbable By Nassim Nicholas Taleb written by Shortcut Edition and has been published by Shortcut Edition this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-17 with Business & Economics categories.
* Our summary is short, simple and pragmatic. It allows you to have the essential ideas of a big book in less than 30 minutes. By reading this summary, you will discover a new way of understanding uncertainty through the concept of the Black Swan. You will also discover : that the Black Swan is a surprising, unpredictable event with far-reaching consequences; why you fail to make predictions; that you are wrong to trust those you consider to be experts in their field; that you can take advantage of uncertainty. The world is made of uncertainties, but man continues to seek to understand and predict it. The more informed society is, the more expert it thinks it is and the more capable it is of understanding the world. However, when it discovers that not all swans are white, its very notion of knowledge is turned upside down. This event, which was very unlikely and with strong consequences, is called by Nassim Nicholas Taleb the "Black Swan". It can lead to success or failure and can make history. How can you approach this phenomenon and take advantage of it in your personal life? *Buy now the summary of this book for the modest price of a cup of coffee!
Antifragile
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Author : Nassim Nicholas Taleb
language : en
Publisher: Random House
Release Date : 2012-11-27
Antifragile written by Nassim Nicholas Taleb and has been published by Random House this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-27 with Business & Economics categories.
Antifragile is a standalone book in Nassim Nicholas Taleb’s landmark Incerto series, an investigation of opacity, luck, uncertainty, probability, human error, risk, and decision-making in a world we don’t understand. The other books in the series are Fooled by Randomness, The Black Swan, Skin in the Game, and The Bed of Procrustes. Nassim Nicholas Taleb, the bestselling author of The Black Swan and one of the foremost thinkers of our time, reveals how to thrive in an uncertain world. Just as human bones get stronger when subjected to stress and tension, and rumors or riots intensify when someone tries to repress them, many things in life benefit from stress, disorder, volatility, and turmoil. What Taleb has identified and calls “antifragile” is that category of things that not only gain from chaos but need it in order to survive and flourish. In The Black Swan, Taleb showed us that highly improbable and unpredictable events underlie almost everything about our world. In Antifragile, Taleb stands uncertainty on its head, making it desirable, even necessary, and proposes that things be built in an antifragile manner. The antifragile is beyond the resilient or robust. The resilient resists shocks and stays the same; the antifragile gets better and better. Furthermore, the antifragile is immune to prediction errors and protected from adverse events. Why is the city-state better than the nation-state, why is debt bad for you, and why is what we call “efficient” not efficient at all? Why do government responses and social policies protect the strong and hurt the weak? Why should you write your resignation letter before even starting on the job? How did the sinking of the Titanic save lives? The book spans innovation by trial and error, life decisions, politics, urban planning, war, personal finance, economic systems, and medicine. And throughout, in addition to the street wisdom of Fat Tony of Brooklyn, the voices and recipes of ancient wisdom, from Roman, Greek, Semitic, and medieval sources, are loud and clear. Antifragile is a blueprint for living in a Black Swan world. Erudite, witty, and iconoclastic, Taleb’s message is revolutionary: The antifragile, and only the antifragile, will make it. Praise for Antifragile “Ambitious and thought-provoking . . . highly entertaining.”—The Economist “A bold book explaining how and why we should embrace uncertainty, randomness, and error . . . It may just change our lives.”—Newsweek
Stalking The Black Swan
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Author : Kenneth A. Posner
language : en
Publisher: Columbia University Press
Release Date : 2010-03-31
Stalking The Black Swan written by Kenneth A. Posner and has been published by Columbia University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-03-31 with Business & Economics categories.
Kenneth A. Posner spent close to two decades as a Wall Street analyst, tracking the so-called "specialty finance" sector, which included controversial companies such as Countrywide, Fannie Mae, Freddie Mac, CIT, and MasterCard many of which were caught in the subprime mortgage and capital markets crisis of 2007. While extreme volatility is nothing new in finance, the recent downturn caught many off guard, indicating that the traditional approach to decision making had let them down. Introducing a new framework for handling and evaluating extreme risk, Posner draws on years of experience to show how decision makers can best cope with the "Black Swans" of our time. Posner's shrewd assessment combines the classic fundamental research approach of Benjamin Graham and David Dodd with more recent developments in cognitive science, computational theory, and quantitative finance. He outlines a probabilistic approach to decision making that involves forecasting across a range of scenarios, and he explains how to balance confidence, react accurately to fast-breaking information, overcome information overload, zero in on the critical issues, penetrate the information asymmetry shielding corporate executives, and integrate the power of human intuition with sophisticated analytics. Emphasizing the computational resources we already have at our disposal our computers and our minds Posner offers a new track to decision making for analysts, investors, traders, corporate executives, risk managers, regulators, policymakers, journalists, and anyone who faces a world of extreme volatility.