5min chapter

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Nassim Taleb — Meditations on Extremistan

The Joe Walker Podcast

CHAPTER

Understanding Thin-Tailed vs Fat-Tailed Distributions and the Concept of Shadow Mean

This chapter explores the differences between thin-tailed and fat-tailed distributions, emphasizing how real-world data can obscure heavy-tailed processes. It highlights the importance of the 'shadow mean' in analyzing data influenced by outliers and extreme occurrences, with examples from fields such as warfare and finance.

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