Black Swans - The impact of the highly improbable

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Black Swan

An event or occurrence that deviates beyond what is normally expected of a situation and that would be extremely difficult to predict. (Totally predictable in hindsight)

Resilient

Something that endures despite disorder

Antifragile

Something that gains from disorder

Fragile

Something that gains from stability

Green Lumber Fallacy

Understanding risk is more important than understanding the product


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