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Nassim Nicholas Taleb born in 1960, in Amioun, Lebanon is a Lebanese-American essayist, scholar, statistician, former trader, and risk analyst.
Taleb completed his Bachelor and Master of Science degree from the University of Paris. He completed his Master in Business Administration (MBA) from the Wharton School at the University of Pennsylvania in 1983. He completed his Ph.D. in Management Science from the University of Paris in 1998. Since then he has worked as a professor in different universities.
Taleb in his second edition of Black Swan said that the foundation of quantitative economics is faulty and highly self-referential. He said that statistics are incomplete as it cannot predict the risk of rare events.
Taleb identifies his main challenge as ratifying his ideas of “robustification” and “anti-fragility”, it means how to live and act in a world we don’t understand and build robustness to black swan events. He introduced the concept of the “fourth quadrant”. He prefers the strategy of being both hyper-conservative and hyper-aggressive at the same time. Taleb claimed that by adopting these strategies a portfolio can be “robust” means having a positive exposure to black swan and limiting losses suffered by unusual events.
An Article in The Times in 2008, by journalist Bryan Appleyard portrayed Tabel as “now the hottest thinker in the world”. At World Economic Forum annual meeting in 2009 Taleb was treated as a “rock star”.