Monday, November 3, 2008

October Pain Was 'Black Swan' Gain

Not everybody lost money in October.

Separate funds in Universa's so-called Black Swan Protection Protocol were up by a range of 65% to 115% in October, according to a person close to the fund. "We're discovering the fragility of the financial system," said Mr. Taleb, who says he expects market volatility to continue as more hedge funds run into trouble.

I can only dream of making that kind of return at any time, let alone in one month.

Nassim Nicholas Taleb wrote a book entitled The black swan: the impact of the highly improbable, in which he wrote about black swans.

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