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The Black Swan: The Impact of the Highly Improbable Summary
Nassim Taleb

Everything you need to understand or teach The Black Swan (Taleb book) by Nassim Taleb.

  • The Black Swan: The Impact of the Highly Improbable Summary & Study Guide

The Black Swan: The Impact of the Highly Improbable Summary

Plot Summary

Nassim Nicholas Taleb built arguments to support his thesis of empirical skepticism, a different way of approaching the randomness in the world. He explained that true randomness was the unavoidable consequence of living in this place and time, and that it led inevitably to Black Swan events. These were events that happened without warning and beyond anybody's capacity to detect ahead of time. They were the big surprises in life that resulted in major game changes, such as hurricane Katrina and the 9/11 terrorist attack on the World Trade Center. Black Swan events could also be positive, such as making a big killing in the stock market from speculative investing or stumbling upon a product that made a big hit. The trick was to maximize luck, and this could best be done in capitalistic markets.

Empirical skepticism involved turning the scientific method, an inductive way of thinking, on its...

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