Nassim Nicholas Taleb – What is a “Black Swan”?
Posted in Books
A few interesting links about Nassim Taleb
This man predicted the credit crunch. In his book, 'The Black Swan' he says
Globalization creates interlocking fragility, while reducing volatility and giving the appearance of stability. In other words it creates devastating Black Swans. We have never lived before under the threat of a global collapse. Financial Institutions have been merging into a smaller number of very large banks. Almost all banks are interrelated. So the financial ecology is swelling into gigantic, incestuous, bureaucratic banks – when one fails, they all fall.
A great Sunday Times article about him, with an interview – Nassim Nicholas Taleb: the prophet of boom and doom
A video explaining 'Black Swans'.
