Memoir

The Black Swan Book written by Nassim Nicholas

This page shares a book Summaries I have compiled during my reading and research. I have tried to summarize whole book on few pages, which I think is a fun way to distil the main ideas of the book.

Black Swan Events are Unprecedented and Have a Huge Impact. Later, They Are Explained Away as Predictable History and society jump—incremental change does not happen as we expect.

Taleb proposes that black swan events have the following characteristics:

We Live in Extremistan, an Unequal World with Unpredictable Extreme Outliers. We live in two separate worlds: mediocristan and extremistan. In mediocristan, things are equal and similar.

We Overvalue What We Know and are Blind to What We Don’t Know

People Create Stories about Why Black Swans Happened, Which Covers Up How Unexpected They Were

We Worry Over What Has Happened in the Past and Ignore Everything Else That is Not Obvious

Knowing How to Handle Issues is More Important than the Ability to Anticipate Them

What to Do When You Cannot Predict Changes

With this, we come to an end of the book  The Black Swan Book written by Nassim Nicholas, See you in the next Gistreads, if you like this Summery, please go ahead and buy the book from the given Link below, till then, be happy and keep reading, Goodbye and Take Care.

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