Nassim Taleb's `Black Swan' Investors Post 50% Gains as Markets Take Dive

He makes up to 110% from 5% to 10% of the time but breaks even during the remaining 90% of the time.

Isn't that roughly a 10% return?
 
Breaking even? More like blowing up his last fund..

He likes to style it as an "experiment" rather than a blowup nowadays. Wonder if his former investors care about the distinction tho.
 
For 6+ years after 911 there were no black swans, as I was reading his book, it downed on me, that he hit his own black swan - which was absence of any black swans, and this is why he closed his fund. His strategy involves tons of small losses, and very rare but huge big wins, it would work great since Bears fund implosion last summer, but his fund was already closed.

I really liked both of his books, but did not understand practically of Mandelbrot theories towards financial markets.
 
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