AI Snips
Chapters
Transcript
Episode notes
What Tail Events Actually Are
- Tail events are very rare outcomes far from the mean that carry outsized impact.
- They matter because their low probability hides massive consequence for portfolios and life.
Black Swans Change Everything
- Nassim Taleb's Black Swan concept highlights unpredictable outliers with huge impact and hindsight narratives.
- Position yourself to capture positive black swans and limit exposure to catastrophic ones.
Surfing: Joy With Hidden Extremes
- Cal started surfing at 25 and mostly enjoys it but recognizes rare catastrophic risks.
- He admits we rarely consider extreme outcomes like drowning or shark attacks while surfing.