Category: Black Swan Thinking

Consider: “The true meaning of the word [odds] is ”a surprising concurrence of events, perceived as meaningfully related, with no apparent causal connection.” In other words, pure happenstance. Yet by merely noticing…

David Harding of trend follower Winton Capital argues for more than simple acceptance of the Sharpe ratio as the measure for assessing “risky investments”: “The Sharpe ratio appears at first blush to…