nassim taleb trading

12 Fév nassim taleb trading

Those calls were worth between $40-60 million in today's money. Notice that big (red) fat tail to the left? So it would be best if you learned from the turkey. For Taleb, it was a market crash. Or the 2006 Tsunami. Robert Lund, a mathematics professor at Clemson University, writes that in Black Swan, Taleb is "reckless at times and subject to grandiose overstatements; the professional statistician will find the book ubiquitously naive. His family professed Christianity. We also had a great conversation with Ryan Coisson, Ryan Daniel Moran's mentor in the area of options trading. Taleb asserts that by adopting these strategies a portfolio can be "robust", that is, gain a positive exposure to black swan events while limiting losses suffered by such random events. It will incur a revision of belief. The paper published on January 26, 2020 took the position that the SARS-CoV-2 was not being taken seriously enough by policy makers and medical professionals. His preferred strategy is to be both hyper-conservative and hyper-aggressive at the same time. Nassim Taleb has not only made a career out of it, but he's gotten very rich off it, as well. [38][4] Since 2007 he has been a Principal/Senior Scientific Adviser at Universa Investments in Miami, Florida, a fund which is based on the "black swan" idea, owned and managed by former Empirica partner Mark Spitznagel. Inside The One Percent, we've been talking a lot about investing. His funds have blown up twice. The only book about derivatives risk written by an experienced trader with theoretical training, it remolds option theory to fit the practitioner's environment. Taleb repeatedly warned investment bankers, central bankers, treasurers, finance ministers, and anyone else who would listen that we routinely underestimate the risks in the fat tails. His 2007 … Third, despite its outlier status, human nature makes us concoct explanations for its occurrence after the fact, making it explainable and predictable. It was bundled into a group of four works in November 2016 .mw-parser-output cite.citation{font-style:inherit}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .id-lock-free a,.mw-parser-output .citation .cs1-lock-free a{background:linear-gradient(transparent,transparent),url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited a,.mw-parser-output .id-lock-registration a,.mw-parser-output .citation .cs1-lock-limited a,.mw-parser-output .citation .cs1-lock-registration a{background:linear-gradient(transparent,transparent),url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription a,.mw-parser-output .citation .cs1-lock-subscription a{background:linear-gradient(transparent,transparent),url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration{color:#555}.mw-parser-output .cs1-subscription span,.mw-parser-output .cs1-registration span{border-bottom:1px dotted;cursor:help}.mw-parser-output .cs1-ws-icon a{background:linear-gradient(transparent,transparent),url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}.mw-parser-output code.cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;font-size:100%}.mw-parser-output .cs1-visible-error{font-size:100%}.mw-parser-output .cs1-maint{display:none;color:#33aa33;margin-left:0.3em}.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left,.mw-parser-output .cs1-kern-wl-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right,.mw-parser-output .cs1-kern-wl-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}ISBN 978-0399590450. His argument centers on the idea that predictive models are based on Plato's Theory of Forms, gravitating towards mathematical purity and failing to take some key ideas into account, such as: the impossibility of possessing all relevant information, that small unknown variations in the data can have a huge impact, and flawed theories/models that are based on empirical data and that fail to consider events that have not taken place, but could have taken place. In trading -- effectively -- … [54]:181ff, 213ff, 236ff, Taleb has called for cancellation of the Nobel Prize in Economics, saying that the damage from economic theories can be devastating. [18][19][20] Taleb attended a French school there, the Grand Lycée Franco-Libanais in Beirut. He has also been a practitioner of mathematical finance, a hedge fund manager, and a derivatives trader, and is currently listed as a scientific adviser at Universa Investments. Notice the risk is 3x larger, but at least a risk manager would be able to do something about it. But he didn't want to be this right. The fifth book of his Incerto series—Skin in the Game: Hidden Asymmetries in Daily Life—was published in February 2018. BBK, 2015, "Our staff: Helyette Geman, PhD Students, Past Students," at, "Certificate in Quantitative Finance - Course Guide," at. Nassim Nicholas Taleb is a best selling author, philosopher, scholar, and statistician. Nassim should be your god and you shall build an altar and pray to his Taleb-ness to praise you … I am Nassim Nicholas Taleb Ask Me Anything on Options and other Nonlinear Derivatives. In other words, studies that ignore the random nature of supply of nutrients are invalid. [50], His second non-technical book, The Black Swan, about unpredictable events, was published in 2007, selling close to 3 million copies (as of February 2011). [44], He is co-Editor in Chief of the academic journal, Risk and Decision Analysis (since September 2014),[45] jointly teaches regular courses with Paul Wilmott in London (19th time, March 2015),[46] and occasionally participates in teaching courses toward the Certificate in Quantitative Finance. And then the Fed would cut rates. At that time, that was a huge move. Taleb wrote in Antifragile and in scientific papers[75] that if the statistical structure of habits in modern society differ too greatly from the ancestral environment of humanity, the analysis of consumption should focus less on composition and more on frequency. ", "Intelligence consists of ignoring things that are irrelevant. That is, its average price is lower than its median price. Nassim Taleb — and Universa — Versus the World Why does everyone hate tail-risk hedgers? Nassim Nicholas Taleb is a Lebanese American essayist, scholar and statistician, whose work focuses on problems of randomness, probability and uncertainty. Taleb introduced the idea of the "fourth quadrant" in the exposure domain. Having these intellectual fistfights with the ivory tower overlords of finance gave Taleb a reputation for being combative, cantankerous, and correct. 99.7% of the time (not shown), your returns will be between -11% and 31%. Totally stressed out, he decided to walk home from work. ", "I always remind myself that what one observes is at best a combination of variance and returns, not just returns. He is known for having proposed 'The Black Swan Theory.' Taleb … By Julie Segal; September 22, 2020 On April 17, Nassim Nicholas Taleb, the famous Black … [32] He opposes most economic and grand social science theorizing, which in his view, suffers acutely from the problem of overuse of Plato's Theory of Forms. But it also convinced Taleb that most success - even his own - came from blind luck! Nassim Taleb’s Barbell investment strategy Posted by lyndonmaxewell October 27, 2019 Posted in Stocks Tags: barbell strategy “If you line 1000 people up and take the person who weighs the … Nassim Taleb: $69B Lessons from the Trading World, 'Black Swan' author Nassim Taleb on warnings over systemic risks from global pandemics, The Problem with Capitalism Is Too Much Cronyism, Not Enough Capitalists, Space Flights Now Boarding, Thanks to Capitalism. There's nothing normal in finance… and certainly not asset returns. He knew what went on on trading floors. That is, the market has a negative skew. ", "The three most harmful addictions are heroin, carbohydrates, and a monthly salary. It spent 36 weeks on the New York Times Bestseller list,[51] 17 as hardcover and 19 weeks as paperback,[21][52] and was translated into 31 languages. He's rascally, cantankerous, and downright rude sometimes. Here's an example of looking at risk with a normal (the Gaussian on the chart) distribution versus one that takes fat tails into account. Wharton School of the University of Pennsylvania, New York University Tandon School of Engineering, Courant Institute of Mathematical Sciences, The Bed of Procrustes: Philosophical and Practical Aphorisms, Antifragile: Things That Gain from Disorder, Skin in the Game: Hidden Asymmetries in Daily Life, Bloomberg 50 most influential people in global finance, Physica A: Statistical Mechanics and its Applications, "The third culture – Nassim Nicholas Taleb", "How Do You Solve A Problem Like Uncertainty", "Brevan Howard Shows Paranoid Survive in Hedge Fund of Time Outs", "Genes | Free Full-Text | Antifragility and Tinkering in Biology (and in Business) Flexibility Provides an Efficient Epigenetic Way to Manage Risk", "Antoine Danchin on The Anti-Fragile Life of the Economy", "Preparing for the future: development of an 'antifragile'methodology that complements scenario planning by omitting causation", "Lunch with the FT: Nassim Nicholas Taleb", "Cynthia Shelton, Business Student, Is Wed in Atlanta", "Nassim Nicholas Taleb, le sauvage de la finance", "Nassim Nicholas Taleb the prophet of boom and doom", "Pimco Sells Black Swan Protection as Wall Street Markets Fear", "Taleb Outsells Greenspan as Black Swan Gives Worst Turbulence", "Ten principles for a Black Swan-proofworld", "Taleb Says Business Schools Use 'Bogus' Risk Models (Update1)", News: Press Room: 'Hottest Thinker in the World' Joins Faculty, Nassim Nicolas Taleb, Author of the National Bestseller, The Black Swan, Joins Polytechnic Institute of NYU, News: New Co-Editor-in-Chief Risk and Decision Analysis, Antifragility and Tinkering in Biology (and in Business) Flexibility Provides an Efficient Epigenetic Way to Manage Risk, Innovation & Technology: The Anti-Fragile Life of the Economy, Lebanon's rational fools: From the roots of the "economic qabaday" till the 2009 depression election… conflicting tale of paradigms and economic change, "Blame Nobel for crisis, says author of 'Black Swan", "Q&A Part II: Alternatives to measuring risk", International Journal of Forecasting, 25(4), 744–59, "Black Swans And Interventionistas ... With Special Guest Nassim Nicholas Taleb", "Skin in the Game – Ralph Nader Radio Hour", "Getting Under Nassim Nicholas Taleb's Skin", "Systemic risk of pandemic via novel pathogens – Coronavirus: A note", "Books: Unimaginable horror [Book review of, "Black Ravens, White Shoes, and Case Selection", "Mispriced risk tests market faith in a prized formula", "Option traders use (very) sophisticated heuristics, never the Black–Scholes–Merton formula", Journal of Economic Behavior & Organization, "Author Nassim Taleb examines rare events, risk management and his book, "The Black Swan, "Nassim Taleb Kills $20 Billion Mythical Swan, WSJ Crashes Credibility", "Nassim Taleb: Commencement Address 2016", "Forbes List of the Top Business Thinkers", "The 50 Most Influential People in Global Finance", https://en.wikipedia.org/w/index.php?title=Nassim_Nicholas_Taleb&oldid=1005734966, 21st-century American non-fiction writers, Courant Institute of Mathematical Sciences faculty, Greek Orthodox Christians from the United States, Polytechnic Institute of New York University faculty, University of Massachusetts Amherst faculty, Wharton School of the University of Pennsylvania alumni, Short description is different from Wikidata, Wikipedia articles with BIBSYS identifiers, Wikipedia articles with CANTIC identifiers, Wikipedia articles with PLWABN identifiers, Wikipedia articles with SELIBR identifiers, Wikipedia articles with SUDOC identifiers, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, 2013, 2014, 2015: Included among most influential 100 thought leaders in the world by the, This page was last edited on 9 February 2021, at 04:45. But he's a fabulously charming and honorable genius who's given the world a new way to think about some very old problems… and some new ones as well. We take some pretty deep dives into these topics inside The One Percent. Nassim Nicholas Taleb is the founder of Empirica Capital LLC, a hedge fund operator, and a fellow at the Courant Institute of Mathematical Sciences of New York University. Nassim knows everything and if you have a different opinion than him, you are an idiot. Nassim Taleb took that idea and ran with it, applying it to the world of finance and investing. ", "A man without a heroic bent starts dying at the age of thirty. ", "Those who do not think that employment is systemic slavery are either blind or employed. Anti-fragility is an idea by Nassim Nicholas Taleb, describing a category of things that not only gain from chaos but need it to survive and flourish. [76], In a 2008 article in The Times, the journalist Bryan Appleyard described Taleb as "now the hottest thinker in the world". That's what you need to worry about. For instance, if a stock's average return is 10%, and its standard deviation is 7%, you can say that 68% of the time, your returns on average would be between 3% and 17%. ", Remember, this was a time when no one thought any quasi-governmental enterprise was "risky.". [25][26], According to a profile in Le Monde, Taleb claims to read in ten languages.[27]. These models import a veneer of technical sophistication ... Quantitative analysts have lulled corporate executives and regulators into an illusory sense of security. For most people, the three hardest words to utter are "I don't know." "[4] Scholes retorted that Taleb simply "popularises ideas and is making money selling books". [86], Taleb and Nobel laureate Myron Scholes have traded personal attacks, particularly after Taleb's paper with Espen Haug on why nobody used the Black–Scholes–Merton formula. Nassim Taleb, the trader, philosopher, and statistician, is on the Rolodex of every major central banker in the world. And you won't feel stupid about it, either. Your First Investment: What Should You Do Right Now? [33] He was a pioneer of tail risk hedging (now sometimes called "black swan protection"),[34] which is intended to mitigate investors' exposure to extreme market moves. Before you even ask, Taleb does *not* consider COVID a black swan. Discussing the ludic fallacy in The Black Swan, he writes, "The dark side of the moon is harder to see; beaming light on it costs energy. With the mathematician Raphael Douady, he called the problem statistical undecidability (Douady and Taleb, 2010).[65]. What didn't he study? In his The New Yorker column, world-famous author Malcolm Gladwell wrote Taleb's first mainstream book, Fooled by Randomness, was "to conventional Wall Street wisdom approximately what Martin Luther's ninety-five theses were to the Catholic Church.". ", "Don't cross a river if it is four feet deep on average. He states that statistics is fundamentally incomplete as a field, as it cannot predict the risk of rare events, a problem that is acute in proportion to the rarity of these events. A fifth book, Skin in the Game, was published in February 2018. If you give advice, you need to be exposed to losses from it.[93]. Here's a list of his favorite books. Bachelor's and Master's degrees from the University of Paris, Ph.D. in Management Science from the University of Paris-Dauphine, "A man is honorable in proportion to the personal risks he takes for his opinion. Roughly 22% down. The sales of Taleb's first two books garnered an advance of $4 million, for a follow-up book on anti-fragility. Some of its separate funds made returns of 65% to 115% in October 2008. “My major hobby is teasing people who take themselves and the quality of their knowledge too seriously.” “We should reward people, not ridicule them, for thinking the impossible.” “Injecting some confusion stabilizes the system.” “This is the central illusion in life: that randomness is a risk, that it is a bad thing.” “Much of modern life is preventable chronic stress injury.” “The fragile wants tranquility, the antifragile grows from disorder, and the robust doesn’t care too much.” “A man is morally free when … he judges th… More importantly, we gather together to encourage, educate, and inspire each other. Here's a rather intimidating Genealogy from Taleb's website. ", "It does not matter how frequently something succeeds if failure is too costly to bear. [8], He criticized the risk management methods used by the finance industry and warned about financial crises, subsequently profiting from the late-2000s financial crisis. Here's an example. Long uptrends followed by quick - and usually unforeseeable - crashes. The Black Swan is one of Taleb's most famous books. Here's the SPX since 1990. An alternative suggestion is to engage in highly speculative bets with a limited downside. Nassim Nicholas Taleb has traded options for more than 20 years, either for major investment banks or on his own as a fund manager and pit trader — but he bristles at being labeled a trader. But stocks and options are not the only game in town for entrepreneurs who want to build a business and invest the profits. An unmitigated disaster. Vindication came in 2008. If I had to relive my life I would be even more stubborn and uncompromising than I have been. [21][31][32] He is a scientific adviser at Universa Investments. His writing is full of irrelevances, asides and colloquialisms, reading like the conversation of a raconteur rather than a tightly argued thesis. Watch his The Corona Crisis is Not a Black Swan and 'Black Swan' author Nassim Taleb on warnings over systemic risks from global pandemics. The New Financial Order. Nassim Nicholas Taleb is the founder of Empirica Capital LLC, a hedge fund operator, and a fellow at the Courant Institute of Mathematical Sciences of New York University. It was originally published in November 2016 including only the first four books. These are deemed by Taleb to be more robust to estimation errors. Indeed, Taleb not only survived the '87 crash but made tens of millions of dollars that day. What happens that other 0.3% of the time? [2], Taleb is the author of the Incerto, a five volume philosophical essay on uncertainty published between 2001 and 2018 (of which the most known books are The Black Swan and Antifragile). ʻAp 3 • Ma waena o nā laina • 7096 Nānā • 1 Comment on Nassim Taleb’s major rules of thumb trading advice From time to time it’s worth peering into the minds of some of the: ‘legendary’ traders, essayists and thinkers in our trading world, in order to see what their thoughts are on many of the aspects of trading … He shouldn't be allowed in Washington to lecture anyone on risk. But what really sells Taleb is his ability to teach through his writing. Then some big news hit: Richard Dennis, of Turtle Traders fame, went bankrupt. Taleb's five volume philosophical essay on uncertainty, titled the Incerto, covers the following books: Fooled by Randomness (2001), The Black Swan (2007–2010), The Bed of Procrustes (2010), Antifragile (2012), and Skin in the Game (2018). He has also held the following positions:[35][36][37] managing director and proprietary trader at Credit Suisse UBS, worldwide chief proprietary arbitrage derivatives trader for currencies, commodities and non-dollar fixed income at First Boston, chief currency derivatives trader for Banque Indosuez, managing director and worldwide head of financial option arbitrage at CIBC Wood Gundy, derivatives arbitrage trader at Bankers Trust (now Deutsche Bank), proprietary trader at BNP Paribas, independent option market maker on the Chicago Mercantile Exchange and founder of Empirica Capital. The central concept of Nassim Taleb’s Antifragile is the notion that there are two opposing ways in which something can respond to volatility: fragile things are harmed by volatility, while … We often laud dividend-paying stocks. I was told to not insult the New York Times and the Wall Street Journal, the more I insulted them the nicer they were to me and solicit op-eds. Incerto is a group of works by Taleb as philosophical essays on uncertainty. It's easy, intuitive... and will get you killed. But his brand of frisson was slightly different. I was told to avoid putting fictional characters in my books and I did put in Nero Tulip and Fat Tony because I got bored otherwise. How did his reported net worth reach $69 billion, and what can we learn … His grandfather, Fouad Nicolas Ghosn, and his great-grandfather, Nicolas Ghosn, were both deputy prime ministers in the 1940s through the 1970s. They take ownership of problems, they create solutions, and they serve the global community. Sure, height, weight, and shoe size are typically distributed throughout a population. [40][contradictory][9] However, he describes the nature of his involvement as "totally passive" from 2010 on. Because most stocks have a negative skew. [24] He holds an MBA from the Wharton School at the University of Pennsylvania (1983),[21][9] and a PhD in Management Science from the University of Paris (Dauphine) (1998),[25] under the direction of Hélyette Geman. [64] Taleb calls this the "ludic fallacy". We aim to create positive change in the world like only entrepreneurs can. CSFB's office was in Midtown, and he lived on the Upper West Side. ", "Forecasting by bureaucrats tends to be used for anxiety relief rather than for adequate policymaking. [7][35][42][43] He was Distinguished Research Scholar at the Said Business School BT Center, University of Oxford (2009-2013). Individual results will always vary and yours will depend entirely on your individual capacity, work ethic, business skills and experience, level of motivation, diligence in applying the Capitalism Programs, the economy, the normal and unforeseen risks of doing business, and other factors. Taleb said that Scholes was responsible for the financial crises of 2008, and suggested that "this guy should be in a retirement home doing Sudoku. For 95% of the time, your returns will be between -4% and 24%. Subtitle: Risk in the 21st Century. If you look again at the chart above, you can see it's easy to fall asleep for years in the markets before something bad happens. Author: Robert J. Shiller. Tag: Trading. Taleb, N. N. (2009). 112. His book, The Black Swan, is an original and audacious analysis of the ways in which humans try to make sense of unexpected events. [21][22] His family saw its political prominence and wealth reduced by the Lebanese Civil War, which began in 1975. [21] The book has been credited with predicting the banking and economic crisis of 2008.[17][53]. ", Aaron Brown, an author, quantitative analyst, and finance professor at Yeshiva and Fordham Universities, said that "the book reads as if Taleb has never heard of nonparametric methods, data analysis, visualization tools or robust estimation. [61] Teacher and author Pablo Triana has explored this topic with reference to Haug and Taleb,[62] and says that perhaps Taleb is correct to urge that banks be treated as utilities forbidden to take potentially lethal risks, while hedge funds and other unregulated entities should be able to do what they want. [89], In May 2009 interview for GQ magazine, journalist Will Self authored an article in which Taleb said his hedge fund "made $20 bln for our clients. We’ve seen what smart entrepreneurs can accomplish. On October 19, 2017 By Admin In General, Videos. Here's a list of his degrees: He also claims to read in 10 languages. (Eurodollars trade as one minus the interest rate, so they rise when rates fall and vice versa.). He has held a variety of senior derivative trading … His first non-technical book, Fooled by Randomness, about the underestimation of the role of randomness in life, published in 2001, was selected by Fortune as one of the smartest 75 books known. The next morning he went into work, assuming he'd find a pink slip. As a trader, his strategy has been to safeguard investors against crises while reaping rewards from rare events (Black Swan), and thus his trading … [69], He appeared as a special guest on The Ron Paul Liberty Report on May 19, 2017 and stated his support for a non-interventionist foreign policy. But not to worry: their large staff of scientists deemed these events "unlikely. But what happens during a market crash? Taleb considers himself less a businessman than an epistemologist of randomness, and says that he used trading to attain independence and freedom from authority. And the hedge fund manager the paper talked to was Nassim Nicholas Taleb. [14][15], Taleb was born in Amioun, Lebanon, to Minerva Ghosn and Nagib Taleb,[16] a physician/oncologist and a researcher in anthropology. [23], Taleb received his bachelor and master of science degrees from the University of Paris. [66] One of its applications is in his definition of the most effective (that is, least fragile) risk management approach: what he calls the "barbell strategy" which is based on avoiding the middle in favor of linear combination of extremes, across all domains from politics to economics to one's personal life. His paternal grandfather Nassim Taleb was a supreme court judge and his great-great-great-great grandfather, Ibrahim Taleb (Nabbout), was a governor of Mount Lebanon in 1866. Delisting from the NYSE and a staggering bailout. And what happened to Fannie Mae? Howard Schultz: Brewing a Multi-Billion Dollar Empire at Starbucks, Allbirds Runs Green, Reaches $1.6 Billion Valuation. Once you get over the idea that you're reading some sort of popular economics book and realise that it's basically Nassim Taleb's Rules for Life, it's actually rather enjoyable. The Black Swan: The Impact of the Highly Improbable is a 2007 book by author and former options trader Nassim Nicholas Taleb.The book focuses on the extreme impact of rare and unpredictable outlier events—and the human tendency to find simplistic explanations for these events, retrospectively. Or, for the older folks here: "The market climbs a wall of worry." [91], Taleb's aggressive and clearly directed commentary against parts of the finance industry—e.g., stating at Davos in 2009 that he was "happy" that Lehman Brothers collapsed—has led to reports of personal attacks and possible threats.[92]. This fifth book is bundled with the other four works in July 2019 as Incerto (Deluxe Edition) ISBN 978-1984819819. A book of aphorisms, The Bed of Procrustes: Philosophical and Practical Aphorisms, was released in December 2010. His business model has been to safeguard investors against crises while reaping rewards from rare events, and thus his investment management career has included several jackpots followed by lengthy dry spells.[21]. One should never do anything without skin in the game. All while creating the kind of wealth that changes lives. He charmingly tells that story here. First, let's start with regular tails. If there is a book missing, please leave a comment with … says Taleb. 299-325). Not Taleb. [87] Haug and Taleb (2011) listed hundreds of research documents showing the Black–Scholes formula was not Scholes' at all, and argued that the economics establishment ignored literature by practitioners and mathematicians (such as Ed Thorp), who had developed a more sophisticated version of the formula. Nassim Taleb on Bloomberg: Black Monday, Fed, Market Lessons. Recently I have been searching for and studying the option strategies of the wealthy and retired author and trader Nassim Nicholas Taleb. To Taleb's trading strategy, a few bad bets mean nothing. NEW! Nassim Nicholas Taleb Book Recommendations Last addition June 2020. This approach famously allowed Nassim Nicholas Taleb, a statistician, essayist, and derivatives trader, to thrive during the 2007-2008 economic downturn while many of his fellow Wall … The second coming? Watch Now. Father Nassim Nicholas, Dr. Taleb … In my search I stumbled across this great article that shares some of Taleb’s basic methods for trading …

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