Word: nassim
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Dates: during 2000-2009
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...depending on the company’s appetite for risk.But VaR modeling does not describe events that occur the other 1 percent of the time. In the New York Times best-seller “The Black Swan: The Impact of the Highly Improbable,” Nassim N. Taleb, who has held positions at Columbia, Wharton, and NYU, argues that these events—which he dubs “black swans”—are the most important determinants of the course of history. Models that fail to account for them are all but useless. Even...
...world should have learned anything from the worst economic downturn since 1945, it is to heed those who warn that danger is ahead - and to listen to those who argue that it is precisely the least expected catastrophe (a "black swan," as they are now known after Nassim Nicholas Taleb's 2007 book of that name) that can do the most damage. That does not mean we should all live, risk averse, cowering in a cave of our own making. It does mean that it behooves us to listen to those who, based on knowledge and insight, warn...
...centuries, Europeans believed that all swans were white - until black swans were discovered in Australia. A possibly minor moment in ornithology, but one that for Nassim Nicholas Taleb, a former trader turned philosopher, perfectly illustrates how poorly our past experience of the world can prepare us for sudden, unexpected, epochal events. His 2007 book, The Black Swan: The Impact of the Highly Improbable, gave rise to a new name for these moments, both positive black swans (the rise of the Internet) and negative ones (the 9/11 attacks). Taleb has argued that much of the recent market turmoil has been...
...procedure, which was similar to that found in upperclassmen houses. “It was so convenient,” said Sylvia R. Chen ’11. About two months ago, hackers wiped out the mail center database and tried to install a new system, according to Nassim Kerkache, supervisor of the mail center. The hackers have not been caught, he said. The mail center has now returned to the old system of using paper slips instead. According to mail clerk Paul S. Riley, an informal survey that asked students whether they preferred e-mail notification or paper slips...
...spend our lives "engaged in small talk, focusing on the known," while Black Swans-- dramatic, unpredictable events--shape the course of history, says mathematical investor turned philosopher Nassim Nicholas Taleb. Sept. 11, World War I and the Wall Street crash of 1987 are all demonstrations that "the world is dominated by the extreme, the unknown and the very improbable." A follow-up to his Fooled by Randomness, about the role chance plays in life, The Black Swan is a provocative macro-trend tome in the tradition of The Wisdom of Crowds and The Tipping Point. Taleb draws on history, philosophy...