HOW TO SURVIVE? ARE YOU A RISK TAKER?
Channel: B like BRAIN
Date: 2022-11-24

WHAT IS A BLACK SWAN EVENT?
A black swan event, a phrase commonly used in the world of finance, is an extremely negative event or occurrence that is impossibly difficult to predict. 
In other words, black swan events are unexpected and unknowable events. The term was popularized by former Wall Street trader Nassim Nicholas Taleb, who wrote about the concept in his 2001 book Fooled by Randomness.

Attributes of Black Swan Events

Taleb outlined the three defining attributes of a black swan event:

An unpredictable event.
A black swan event results in severe and widespread consequences.
After a black swan event occurs, people will rationalize the event as being predictable (known as the hindsight bias).

“The difference between successful people and really successful people is that really successful people say no to almost everything.”
Nassim Nicholas Taleb

***FTX 
FTX Assets Still Missing as Firm Begins Bankruptcy Process By David Yaffe-Bellany, 
Nov. 22, 2022;
link: https://www.nytimes.com/2022/11/22/business/ftx-bankruptcy-sam-bankman-fried.html

#skininthegame 
#nassimtaleb 
#blackswan 
#risktaker 
#ftx

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