Lleo, Sébastien; Ziemba, William T. - In: International Journal of Financial Studies : open … 3 (2015) 3, pp. 351-380
Financial disasters to hedge funds, bank trading departments and individual speculative traders and investors seem to always occur because of non-diversification in all possible scenarios, being overbet and being hit by a bad scenario. Black swans are the worst type of bad scenario: unexpected...
