Black swans flock. There are any number of things with very low probablity and very high positive and negative payoffs. You can;t control for them all. I suggest renormalisation: hand-wave them away by assuming they cancel out.
Black swans flock. There are any number of things with very low probablity and very high positive and negative payoffs. You can;t control for them all. I suggest renormalisation: hand-wave them away by assuming they cancel out.