http://www.bloomberg.com/apps/news?pid=20601109&sid=aHfkhe8.C._8&refer=home i recently finished fooled by randomness....i cared little about his historical ramblings, but did pay close attention to his other topics, especially related to market. now im listening to audiobook of black swan. its entertaining. but this article would pretty much sum up a lot about the author. " Taleb built an investment strategy based on options trading. It was designed to bulletproof investors against blowups while profiting from rare events. His 20-year trading career has been marked by jackpots (like when he lucked out in trading options during the stock market crash of 1987) followed by long dry spells. i wonder how this works? does he continue to purchase far out of the money options everyday? wouldn't you lose everyday and thus these large lump profits be cancelled out ?? further reading says this yes he is buying otm On Sept. 22, 1985, France, Germany, Japan, the U.K. and the U.S. signed the Plaza Accord, an agreement to push down the value of the dollar to shore up the U.S. current account deficit. Taleb was sitting on currency options -- which give investors the right to buy or sell a currency at a specified exchange rate -- that had cost him pennies. The options exploded in value that day. "I had no clue what had happened to me,'' he recalls. ``We were lucky. We made a lot of money but by accident.'' After this fluke, Taleb says he became obsessed with buying out-of-the-money options"