Sunday, October 21, 2012
FDW risk: Low Probability; High Impact
As a young married guy I knew nothing about FDWs. I learned a lot from the gossips from the older secretaries at work, who by the way were also fairly young. They were just older and more experienced than me. I was horrified by their stories. The occasional tragedies reported in the media by FDWs were not helpful. I told myself I will not have a FDW if I can helped it. Since my parents weren't willing to help with childcare, we didn't have kids until quite late.
I look forward to reading Samuel's story later; how one bounce back from extreme negative impact.
People routinely ignore the Black Swan. I have noticed that there are many Black Swan eggs, which by the definition of the Black Swan only a few will agree with me. Misfortune investing (not like this story but those with prices) is not attracting enough people. This is a paradox as it might be the only way to kill off many disastrous Black Swans.
I hope more people will bet the Black Swans. She must be stared down courageously together. Running from it only cause her to chase you. Financial market players might then finally begin to redeem themselves by saving the world instead of destroying it.
Posted by PengYou at 8:08 AM