The antidote to conventional statistics. Could save your company from bankruptcy. Could have prevented the financial disasters at zombie banks that were (unjustly) bailed out, if their ill-informed managers hadn't been blind worshippers at the altar of the Normal Curve. Could make you fabulously wealthy, if you heed its advice.
This is another one-of-a-kind book. Taleb is awesome. I still feel the Western media has underplayed this book by giving it complements which are not worth the book. It is not just an "interesting read" book. It gives very critical thoughts to an intelligent mind, challenges you like never before, and make you enjoy life to live it to the fullest. Extremely well written, inspiring and applicable
The Black Swan is a uniquely-crafted look the unexpected catastrophic events (or, “black swans”) that shape our lives and economy. The author, Nassim Taleb, writes with a pompous pen—but with a pomp that can only come with being as educated (and vindicated) as he is. If you have any interest in randomness and/or its affect on markets you’ll like what he’s done here.
No, I'm not talking about the movie with Natalie Portman (which is also pretty awesome), but rather the non-fiction book by Nassim Nicholas Taleb. "Black Swans" here are completely revolutionary and unpredictable events that change everything in a given situation. They also make predicting the future based on past events completely futile. Fascinating, and packed with valuable insights.
Exceptions are the rule. The rule of large numbers in statistics works well - except when it doesn't - and then it can be disastrous. Outliers can throw a system into chaos. This book got me thinking outside the box.
Harder to read than Gladwell, but funnier. Taleb explains how the one exception can disprove the rule and the extraordinary negative results this can have. Cons: Very limited in predictive value. He doesn't really explain how one fights the urge to keep doubling-down when things start to go bad.