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#083 Nassim Taleb And Scott Patterson On Black Swans And Chaos Kings

The Julia La Roche Show

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How to Survive to Fight Another Day

The Prokosia principle is that there's an absorption barrier. If you hit your absorption barrier, you got a lot of trades that look very attractive. No matter in the long run, it's going to happen. Life is dynamic. It's not static. So if you have tiny risk of blow up, you will blow up in the longrun. And then one example I give is, you know, pilots. If the plane has very low probability of crashing, you would have no experience pilots because eventually you become 100% on the repetition.

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