Summary
Opening with George Soros on Victor Niederhoffer’s 1997 blowup, Mauboussin explains why returns are not normally distributed, and why strategies that ignore extreme events eventually fail.
Source
- Title
- A Tail of Two Worlds: Fat Tails and Investing
- Author
- Michael J. Mauboussin and Kristen Bartholdson
- Year
- 2002
- Published by
- Credit Suisse First Boston
- Length
- 5 pages
- File
- PDF · 430 KB