The Black Swan

The Black Swan is a landmark book by Nassim Nicholas Taleb that investigates the phenomenon of highly improbable events with massive impacts.

These events, termed Black Swans, are unpredictable, have a significant impact, and are rationalized after the fact to appear less random.

Taleb argues that humans are hardwired to focus on specifics rather than generalities, leading to a failure to consider what we don’t know.

The book delves into cognitive biases, the limitations of mathematical models, and the importance of robustness and antifragility in navigating a world filled with uncertainty.

The second edition includes a new essay, 'On Robustness and Fragility,' offering tools to navigate and exploit a Black Swan world.