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Friday, February 08, 2013

Taleb on Accepting Uncertainty and Volatility

Nassim Nicholas Taleb reviewing his new book on Accepting Uncertainty, Embracing Volatility  in  Knowledge@Wharton.    Over the years I have talked to many vendors that believed that they could directly solve the uncertainty problem, despite the obvious volatility of the data about world we live in.  Once again Taleb does an excellent job of describing this space well.  I am still looking for something I can use directly to better simulate the volatile world we live in.   " ... The day before a big game, regardless of the sport, a team's coach or star player is often asked, "How will you stop the opposing team tomorrow?" The answer typically goes something like this: "We can't worry about the other team. We just have to play our game." That, in a very simplified nutshell, is the essence of Nassim Nicholas Taleb's highly polemical, always thought-provoking new book, Antifragile: Things That Gain from Disorder. Here, though, the opponent is not another team's slugger, quarterback or point guard, but the future and change ... " 

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