Word: impact
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...black swans were discovered in Australia. A possibly minor moment in ornithology, but one that for Nassim Nicholas Taleb, a former trader turned philosopher, perfectly illustrates how poorly our past experience of the world can prepare us for sudden, unexpected, epochal events. His 2007 book, The Black Swan: The Impact of the Highly Improbable, gave rise to a new name for these moments, both positive black swans (the rise of the Internet) and negative ones (the 9/11 attacks). Taleb has argued that much of the recent market turmoil has been due to the inability of financial risk models to account...
...lose $100 million. But if the market drops 15%, you don't lose another $50 million, you lose an extra $2 billion. And if the market moves an extra 5% you lose an extra $10 or $15 billion. All the metrics have the effect of underestimating the impact of the possibility of very large deviations. In other words it tells you how uncomfortable the plane ride is going to be, but tells you nothing about the crash...
...Marc Touati, an economist and executive manager of Paris research and strategy group Global Equities, says that the "markets are pushing things in the search of a bottom - a point of impact from which rebound and recovery begins." "In one sense, it can be considered a catharsis," agrees Daley. "I just hope the panic doesn't cause irreparable damage to some firms and countries...
Renowned pianist and music professor Robert D. Levin ’68, a freshman when Yannatos first arrived, speaks enthusiastically about the profound impact Yannatos has had on music at Harvard...
...Today, between 5 and 10% of the 4.2 million people living in Ireland speak Irish on a daily basis, and many of those are students who only speak it in school. Máire Nic Ghiolla Phádraig, senior lecturer of sociology at University College Dublin, witnessed the impact of the rise in gaelscoileanna on her university campus with more and more gaelgóirs, or Irish speakers, arriving each year. "I have seen the change during Fresher's week," Nic Ghiolla Phádraig says. "Hundreds of Irish speakers join the Cumann Gaeleach [Irish club] and wearing...