10 Key Lessons From the Book “Black Swan” By: Nassim Taleb
⚡️Book Review⚡️
1. Don’t chase black swans, instead, let them permeate your life.
👉You can do this by experimenting, cultivating serendipity,
🚫not taking bell curves too seriously, and investing in lots of small outlier but high-risk opportunities.
2. Black swan events Key attributes:
- Extremely impactful
- Are outlier events
- Are retrospectively predictable, not prospectively predictable
🚫Try to avoid situations that can fool you in a huge way, and avoid depending on huge, and potentially harmful predictions.
3. Randomness mainly comes from lack of knowledge
Surviving until tomorrow could mean that you’re either more likely to be immortal, or closer to death.
👉Both of these conclusions are based on the same exact data.
4. Unknowns are more important than the knowns
👉We can master things in one field and fail to transfer the same to another.
Everyone has their own limitations when it comes to learning from experience or observation.
