Should Probability Exist in Markets? The 'Blank Swan' Theory, Explained
Elie Ayache , The Blank Swan
Elie Ayache, Author of 'The Blank Swan', talks about his 'Blank Swan' theory, which dispels the notion of probability in financial markets. In his discussion, he promotes only the use of simple derivatives in evaluating asset prices, and suggests that the use of these simple derivatives is essential in evaluating financial assets in a period where great uncertainty is the order of the day.