Key Lessons from Black Swan

I find NNT’s Black Swan stimulating.  Here’s what I’ve learned:

The world split into 2 parts: 

the nonscalable and mildly random, history crawls, ruled by bell-curve and Law of large numbers
the scalable and wildly random, history jumps, ruled by power laws+Pareto-Zipf+Yule+Mandelbrot+fractal

Beware that books, games don’t necessarily apply to the real world
Avoid noise, usually generated by news and media
Don’t be the [...]

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Black Swan, Remaining Parts

Just finished reading NNT’s Black Swan.
In parts 2, 3, 4, Taleb went into further details on actions and decision making in face of the unknown unknown.  He contrasts the lopsidedness of how things work and how Black Swans changes things.  Winners tend to win more often.  The winners might have gotten there by luck, not skills.  [...]

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Black Swan, Part 1

Just finished reading Part 1, first 133 pp., of NNT’s Black Swan.  Teleb presents his observations and conjectures on how we humans are not equipped to see and learn from the (1) rare events that have (2) significant impact and we tend to (3) ignore these events.  These 3 points define the Black Swans.  For [...]

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