“History is a series of unprecedented events.” Great quote! You can learn much from history's but it doesn’t cover every possible scenario. Irrationality is also not built in . “Stupid” people sometimes get “lucky” and “geniuses” sometimes get “screwed.” “No one saw that coming.”
“History is a series of unprecedented events.” Great quote! You can learn much from history's but it doesn’t cover every possible scenario. Irrationality is also not built in . “Stupid” people sometimes get “lucky” and “geniuses” sometimes get “screwed.” “No one saw that coming.”
These guys modeled everything that had ever happened. Including the Black Monday Crash of 1987.
The mistake wasn’t that they didn’t think anything bad would happen. The mistake was assuming future “bad” would replicate past “bad.”