Black Swan

—“Talking of Nassim Nicholas Taleb, which book in your opinion defines him as a thinker?”–Marsden Katana

I think everything you need to know is in Black Swan and he’s slowly moving my direction (involuntary warranty) versus voluntary “skin in the game”, through each of his books. I think he finally figured out that the data necessary to produce outliers is more expensive to obtain than the returns, and so he’s started to come around to legal restraint rather than solving the quantitative problem. In other words, he’s moved to falsification rather than justification.

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