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

Aspen Aerogels, Inc. to Present at Barclays CEO Energy-Power Conference August 27th, 2014

Harris & Harris Group Letter to Shareholders on Website August 19th, 2014

Harris & Harris Group to Host Conference Call on Second-Quarter 2014 Financial Results on August 15, 2014 August 12th, 2014

Aspen Aerogels, Inc. to Present at Canaccord Genuity 34th Annual Growth Conference August 11th, 2014

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

A new, tunable device for spintronics: An international team of scientists including physicist Jairo Sinova from the University of Mainz realises a tunable spin-charge converter made of GaAs August 29th, 2014

Nanoscale assembly line August 29th, 2014

New analytical technology reveals 'nanomechanical' surface traits August 29th, 2014

Copper shines as flexible conductor August 29th, 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