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Cover of The Black Swan by Nassim Nicholas Taleb

The Black Swan

Nassim Nicholas Taleb · 2007

Black Swans are highly improbable events with massive consequences that are rationalized after the fact as if they were predictable. Taleb argues that our models, predictions, and risk management tools are dangerously blind to extreme events — and that these events are where the real action is. He conceptually predicted the 2008 crisis before it happened, which tends to strengthen an argument.

The case against

Taleb's core idea fits in an essay; the book repeats it for four hundred pages while insulting everyone who has not had it. Economists are frauds, professors are empty suits, and a fictional novelist named Yevgenia gets chapters for no clear reason. He is right about fat tails and unbearable about being right.

Business & Investing · the Pro canon

The case for it and the rest of the canon open with Pro.

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