Statistician and trader Nassim Nicholas Taleb published his book “The Black Swan: The Impact of the Highly Improbable” in 2007 – just months before the global financial crisis and Great Recession hit full swing. In this, and in other writings, he explores the importance of preparing for the unexpected. After a brutal year or so on Wall Street, I recently went back to Taleb’s works. They offer some very important lessons on resilience and risk, and I highly recommend them. But since most people prefer simple, real-world examples to a homework assignment, let me give you the Reader’s Digest version – using tobacco giant Altria Group Inc. … Read more