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‘The whole structure needs to tumble’: Black Swan author Nassim Taleb warns a 2008-style crash could be coming — here are 2 risky areas he encourages investors to avoid
Story by Vishesh Raisinghani
Black Swan author warns 2008-style crash may come© CNBC Television / YouTube
The economy is due for a major correction, according to Nassim Nicholas Taleb.
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“The whole structure needs to tumble,” the Lebanese-American essayist, mathematical statistician, former option trader and risk analyst, who is most famous for writing the macroeconomics book The Black Swan, said in a recent interview on CNBC. “Systems don’t correct themselves without some kind of pain.”
Taleb’s career has been devoted to advocating for systems that he describes as “antifragile,” which means they can withstand the shock of statistically rare and disruptive events. But his warning about the current economic climate is less about rare, unpredictable events and more about what he says is right in front of us.
White Swan
Black swan events describe economic events that come as a complete surprise and have a major impact on the landscape. The next crisis, however, may be developing right under our noses.
“A white swan! It’s a white swan event,” Taleb said during the interview.
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