TPP010: Buy to let vs Buy to sell

The Black Swan is a landmark book by Nassim Nicholas Taleb that investigates the phenomenon of highly improbable events with massive impacts. These events, termed Black Swans, are unpredictable, have a significant impact, and are rationalized after the fact to appear less random. Taleb argues that humans are hardwired to focus on specifics rather than generalities, leading to a failure to consider what we don’t know. The book delves into cognitive biases, the limitations of mathematical models, and the importance of robustness and antifragility in navigating a world filled with uncertainty. The second edition includes a new essay, 'On Robustness and Fragility,' offering tools to navigate and exploit a Black Swan world.

In 'Antifragile', Nassim Nicholas Taleb introduces the concept of antifragility, which goes beyond resilience or robustness. Antifragile systems thrive on volatility, randomness, and stressors, using them as sources of growth and improvement. Taleb contrasts antifragility with fragility, which is harmed by disorder, and robustness, which resists change. The book applies this concept to various domains, including economics, medicine, and personal development. Taleb argues that embracing uncertainty and allowing for controlled exposure to stressors can lead to greater adaptability and long-term success. 'Antifragile' offers a new perspective on risk management and decision-making in an unpredictable world.