Nassim Nicholas Taleb

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Nassim Nicholas Taleb
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Occupation Market Participant, Author, University Professor
Website www.fooledbyrandomness.com

Nassim Nicholas Taleb is an author, professor, hedge fund manager, and a former Wall Street trader. He is possibly best known for writing the best-selling finance book “The Black Swan: The Impact of the Highly Improbable,” which came out in May 2007, shortly before the subprime mortgage meltdown.[1]

At the time of the "flash crash" markets decline on May 6, 2010, there was talk that as fears about the spread of the European debt crisis dragged on stocks and high-frequency trading exacerbated the move lower, a trade by Universa, a hedge fund advised by Nassim Taleb led traders on the other side of the transaction — including Barclays Capital, the brokerage arm of British bank Barclays PLC — to do their own selling to offset some of the risk.[2]

Universa was said to have purchased 50,000 options that would come into the money if the S&P 500 Index tumbled precipitously. According to The Wall Street Journal, the purchase sparked other selling, contributing to the overall 1,000 point decline.[3]

Background

Taleb once worked at the investment bank First Boston.

Education

Taleb received bachelor's and master's in science from the University of Paris. He holds an MBA from the Wharton School at the University of Pennsylvania, and a PhD in Management Science from the University of Paris.

Resources

References

  1. The Risk Maverick. Bloomberg Markets.
  2. Did A Big Bet Help Trigger 'Black Swan' Stock Swoon?. Dow Jones.
  3. How Would “Black Swan” Author Taleb Prevent Another Flash Crash?. The Wall Street Journal.