
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.
Play episode from 49:36
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