Quotes About Fat-tailed

WATCH YOUR DOWNSIDE It's often said that opportunity is as important as risk. That's false. Risk can kill you or your project. No upside can compensate for that. For fat-tailed risk, which is present in most projects, forget about forecasting risk; go directly to mitigation by spotting and eliminating dangers.

Never compare a multiplicative, systemic, and fat-tailed risk to a non-multiplicative, idiosyncratic, and thin-tailed one.