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Nassim Nicholas Taleb on Black Swans, Fragility, and Mistakes

EconTalk

00:00

Convexity Is a Complex Instrument

"I'm glad we put a man on the moon. I got a kick out of it, but it's some, it's really not that practical for everyday life," he says. "So i continue develop to thor on my idea, because you can't really get your idea." The central idea is convexity - when you lose a penny to make a dollar and have been wrong doesn't cost you as much as being right.

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