Taleb acts as though the finance community doesn't know what a fat tail is, or how to model it. Yes, there are idiotic statistical practices used in the busines

Taleb acts as though the finance community doesn't know what a fat tail is, or how to model it. Yes, there are idiotic statistical practices used in the business world (VAR comes to mind) but the best hedge funds employ the types of top mathematics PhDs that understand the concepts and implementation quite well. I've worked with them in the past and it would be a mistake to discard their thinking as trivial or amateurish.