Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > News > Foolish Book Review: "The Black Swan"

August 10th, 2007

Foolish Book Review: "The Black Swan"

Abstract:
One important lesson imbedded in these historical analogies is that what we don't know is frequently more important than what we do know (or think we know). This seemly innocuous statement is actually quite profound. Here's why. Throughout the book, Taleb offers compelling evidence that people -- especially so-called experts -- tend to overestimate what they know and underestimate the uncertainty that is derived from those things they don't know.

For example, how often have you heard experts in a given field make bold, confident statements? A case in point is the energy industry. These days it is not uncommon to hear specialists in the field say that oil, coal, and natural gas will remain the main source of energy for the next 30 years. Such statements can easily lead investors to believe ExxonMobil (NYSE: XOM), Sasol (NYSE: SSL), and Chevron are, and will remain, solid blue-chip investments for the foreseeable future.

The problem is the people making these predictions don't know what they don't know. For example, how much do they know about synthetic genomics, such as BP (NYSE: BP) is now investigating? Is it possible that "designer bacteria" and biomass -- and not oil -- could be a major source of our energy in the future? Or is it possible that one of the nanotechnology companies that Harris & Harris (Nasdaq: TINY) has invested in could produce a breakthrough that could revolutionize solar energy and make it cost-competitive with coal?

Source:
fool.com

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

Investments/IPO's/Splits

Harris & Harris Group to Host Conference Call on Second-Quarter 2014 Financial Results on August 15, 2014 July 23rd, 2014

Nanometrics Announces Upcoming Investor Events July 22nd, 2014

Harris & Harris Group Invests in UberSeq, Inc. July 16th, 2014

Harris & Harris Group Portfolio Company D-Wave Systems Closes a $28.4 Million Financing July 14th, 2014

Interviews/Book Reviews/Essays/Reports/Podcasts/Journals

Silicene Labs Announces the Launch of 2D Materials Briefing Book™ and 2D Materials Road-Heat Map™: Contributors Include One of the World's Foremost 2D Materials Scientists July 25th, 2014

New imaging agent provides better picture of the gut July 25th, 2014

Breakthrough laser experiment reveals liquid-like motion of atoms in an ultra-cold cluster: University of Leicester research team unlocks insights into creation of new nano-materials July 25th, 2014

Scientists Test Nanoparticle "Alarm Clock" to Awaken Immune Systems Put to Sleep by Cancer July 25th, 2014

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE