Book Review

The Black Swan by Nassim Nicholas Taleb- A book Description

In the book “The Black Swan,” the author explains the impact of the highly improbable events, namely- The Black Swans- in everyday life. Through numerous accounts and events of the past and several theories and explanations, the reader is acquainted with the black swans in the past and recent histories. The book contains a set of terminologies that the author has put up to make the reader better understand his explanations and conclusions. Though there are chances of the reader getting lost in slightly complicated explanations and theories, most of them call for pausing and having a more profound thought and relate them to the happenings around us.

There are enough evidence and explanations to prove why the future cannot be predicted by taking the information from history and how many of the predictions proved wrong. Many events that are presumed to be insignificant and ignored play an essential role. Those so-called insignificant events are getting ignored even today by the experts, leading to faulty predictions and assumptions.

Though there are many theories explained with relevant evidence and citations, the few that might be pretty interesting are given below.

  • What are Black Swans, and what is their relevance in our daily lives?
  • The faulty belief that the world we live in is more understandable, more explainable, and therefore more predictable than it is.
  • Our minds are wonderful explanation machines, capable of making sense out of almost anything, capable of mounting explanations of all manner of phenomena, and generally incapable of accepting the idea of unpredictability.
  • Do people really fall in love with the works of art, or are they doing it for something else when they appreciate creations in the field?
  • When the sample is large, no single instance will significantly change the aggregate or the total. The largest observation will remain impressive, but eventually insignificant, to the sum.
  • How can we go from specific instances to reach general conclusions? How do we know what we know? How do we know that what we have observed from given objects and events suffices to enable us to figure out their other properties?
  • How can we know the future, given the knowledge of the past; or more generally, how can we figure out properties of the unknown based on the known?
  • We react to a piece of information not on its logical merit but based on which framework surrounds it, and how it registers with our socio-emotional system.
  • Seeing white swans does not confirm the non-existence of black swans.
  • Our propensity to impose meaning and concepts blocks our awareness of the details making up the concept.
  • We will tend to more easily remember those facts from our past that fit a narrative, while we tend to neglect others that do not appear to play a causal role in the narrative.
  • We learn from repetition – at the expense of events that have not happened before. Nonrepeatable events are ignored before their occurrence and overestimated after.
  • Things that move are often black swan–prone.
  • The major problem with the experts is that they do not know what they do not know.
  • Our problem is not just we do not know the future; we do not know much of the past either.

The above are just a very few points of discussion that will relate to the incidents in our neighborhood.  However, the book is an immense vault of many theories which we believed and about which we will not have the same perception after reading it. A word of caution- do not expect to have a smooth reading till the end. There are speed breakers and be prepared for them. Overall a good read which will put us in a different mode of thinking.

Get a copy here https://amzn.to/3CuC8fm

32 thoughts on “The Black Swan by Nassim Nicholas Taleb- A book Description

  1. Howdy terrific blog! Does running a blog like this take a
    great deal of work? I have absolutely no expertise in computer programming but I was hoping to start my own blog in the near future.
    Anyway, should you have any suggestions or tips for new blog
    owners please share. I understand this is off topic nevertheless I just
    wanted to ask. Kudos!

  2. Hello! I know this is kinda off topic but I was wondering which blog platform are you using for
    this site? I’m getting tired of WordPress because I’ve had problems with hackers and I’m looking at options for another platform.

    I would be great if you could point me in the direction of a
    good platform.

  3. Hello! This is my first visit to your blog!
    We are a group of volunteers and starting a new project
    in a community in the same niche. Your blog provided
    us useful information to work on. You have done a outstanding job!

  4. I know this if off topic but I’m looking into starting my own weblog and was curious what all is needed to get set up?
    I’m assuming having a blog like yours would cost a pretty penny?
    I’m not very internet smart so I’m not 100% certain. Any tips
    or advice would be greatly appreciated. Thank you

    1. Hi, Thank you for showing interest. I recommend using WordPress. It is highly user-friendly and has many features. The Pricing is also pretty affordable

  5. This is the right web site for anybody who really wants to find out about this topic.
    You understand so much its almost hard to argue with you (not that I personally
    will need to…HaHa). You certainly put a brand
    new spin on a subject that has been discussed for years.
    Excellent stuff, just excellent!

    1. Thank you so much for your valuable feedback and interest. This has increased my motivation to keep working. Please do visit again and leave your valuable feedback. it means a lot to me

  6. Wonderful beat ! I would like to apprentice while you amend your site,
    how could i subscribe for a blog site? The account aided me a acceptable deal.
    I had been a little bit acquainted of this your broadcast offered bright clear concept

  7. Hello, i read your blog from time to time and i own a similar one
    and i was just wondering if you get a lot of spam responses?

    If so how do you protect against it, any plugin or anything you can advise?
    I get so much lately it’s driving me insane so any support is very much appreciated.

    1. Thank you very much for visiting my blog. Happy to know you liked it. I also get many spam comments, though manageable. I personally move each one of them to the spam folder and do not approve those.

  8. excellent issues altogether, you simply won a brand new reader.
    What might you suggest in regards to your put up
    that you made some days in the past? Any positive?

  9. I do agree with all of the ideas you have
    presented in your post. They’re very convincing and can certainly
    work. Nonetheless, the posts are too quick for novices. May just you please extend them a little
    from subsequent time? Thanks for the post.

  10. Hello I am so delighted I found your website, I really found you by error, while
    I was researching on Digg for something else, Anyways I am here now and would just like to say many thanks for a incredible post and a all round thrilling blog (I also love the theme/design), I don’t have time
    to look over it all at the moment but I have saved it and also
    added your RSS feeds, so when I have time I will
    be back to read a great deal more, Please do keep up the awesome work.

  11. My brother suggested I might like this blog. He was entirely right.
    This post truly made my day. You cann’t imagine simply
    how much time I had spent for this information! Thanks!

  12. Nice blog right here! Additionally your website rather a lot up fast!
    What web host are you the usage of? Can I get your affiliate
    hyperlink in your host? I wish my web site loaded up as fast
    as yours lol

Leave a Reply

Your email address will not be published. Required fields are marked *