2min chapter

The Joe Walker Podcast cover image

A Practical Guide To Coping With Uncertainty — John Kay

The Joe Walker Podcast

CHAPTER

The Black Swan and the Concept of Radical Uncertainty

Taleb uses the phrase black swan in two very different ways. A, that was an event where you couldn't imagine it before it happened; and a more trivial way with something like the iphone. It's actually the existence of radical uncertainty that creates profit opportunities in business and finance. And that was the insight that frank knight had a century ago but people have lost hold of since.

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