TIP 047 : The Black Swan (Investing Podcast)
We Study Billionaires - The Investor’s Podcast Network
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Uncovering the Impact of Black Swan Events
The chapter explores the main theme of 'The Black Swan' by Nassim Taleb, highlighting the concept of distributions in statistics not being normal as believed. It discusses how unpredictable and impactful events, labeled as black swans, defy traditional probabilities and emphasize the dangers of overconfidence in decision-making. The conversation delves into cognitive biases, the problem of induction, and the importance of preparing for unexpected events in various aspects of life.
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