If @nntaleb taught me anything :
(1) Don’t try to predict extreme events, it’s impossible
(2) Take steps so that negative extreme events don’t kill you and positive ones benefit you hugely, that’s feasible
(3) …
(4) Profit and live happily
The plan of action is almost always the same, regardless the timing, magnitude, or type of extreme negative event: - insurance - backup equipment/food/plan/people - diversification - hold a good portion of net worth in cash These things work for terrorism, tornado, or pandemic.
