Silent Risk
Lectures on Fat Tails, (Anti)Fragility, and Asymmetric Exposure
Book • 2014
Silent Risk provides a mathematical approach to understanding consequential hidden risks, particularly tail events that statistical methods fail to detect properly.
It critiques errors in financial and economic models like Gaussian distributions, advocating alternatives such as mean deviation, payoffs over probabilities, convexity, and kurtosis as better risk measures.
The book emphasizes fragility as a nonlinear response to volatility and promotes building robust, antifragile structures against model errors and extreme events.
It critiques errors in financial and economic models like Gaussian distributions, advocating alternatives such as mean deviation, payoffs over probabilities, convexity, and kurtosis as better risk measures.
The book emphasizes fragility as a nonlinear response to volatility and promotes building robust, antifragile structures against model errors and extreme events.
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Nassim Taleb
Nassim Taleb | Why You Should Embrace Uncertainty
