Nassim Taleb: Institutions Should Roll with Black Swans, Not Resist Them

” Institutions these days should be flexible and nimble in nature and able to roll with black swan events like bamboo in a storm rather than resist them and snap a like bigger tree, said Nassim Taleb, the author and financial guru whose 2007 book “The Black Swan” predicted the current financial crisis.

Black swan events, according to Taleb, are incidents that strike unexpectedly and inflict major damage to markets and economies, many of which are obvious in hindsight.

Businesses and governments today often worry when a black swan event might occur, though they would be better to focus on being able to withstand blindside punches by being nimble and flexible like a small outfit rather than bulking up to resist the unknown.”

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