In most disciplines... asymmetry does not matter. ...People in most fields ...do not have problems eliminating extreme values from their sample, when… - Nassim Nicholas Taleb

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Engraved portrait of Nassim Nicholas Taleb, facing right

In most disciplines... asymmetry does not matter. ...People in most fields ...do not have problems eliminating extreme values from their sample, when the difference in payoff between different outcomes is not significant ...A professor ...removes the ...s, and takes the average of the remaining ones, without ...being ...unsound. A casual weather forecaster does the same ...So people in finance borrow the technique and ignore infrequent events, not knowing that the effect ...can bankrupt a company.

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About Nassim Nicholas Taleb

Nassim Nicholas Taleb (born 1 January 1960 in Amioun, Lebanon) is an essayist, epistemologist, researcher, and former practitioner of mathematical finance.

Biography information from Wikiquote · Portrait adapted from Wikimedia Commons, Sarah Josephine Taleb (CC BY)

Also Known As

Alternative Names: Nassim Taleb

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