There is a clear demarcation between fat tailed ne antails and thin arros. You can identify ser the youkican tell of his fat tail, and and and an very but tha demarcation is one sort of one way. It is easier to say, is fat tail than sintail, unless you have deep knowledge of the process. Although i'd like to think warren buffet is a econtork listener in don't know that he isn't.
Nassim Nicholas Taleb, author of Antifragile, Black Swan, and Fooled by Randomness, talks with EconTalk host Russ Roberts about a recent co-authored paper on the risks of genetically modified organisms (GMOs) and the use of the Precautionary Principle. Taleb contrasts harm with ruin and explains how the differences imply different rules of behavior when dealing with the risk of each. Taleb argues that when considering the riskiness of GMOs, the right understanding of statistics is more valuable than expertise in biology or genetics. The central issue that pervades the conversation is how to cope with a small non-negligible risk of catastrophe.