Marina disguises herself as a man and practices in a monastery, being falsely accused of getting the shopkeeper's daughter pregnant. She does not explain but instead "endures humiliation and bears the burden," raising that "her" child, and living a beggar's life for 10 years.



This is the story told by Taleb in the preface of "The Safe Haven". Marina could explain everything by publicly revealing her gender, but she chose silence to remain true to her monastic identity and sacred mission. It was only after her untimely death that the truth came to light.

Next, Taleb introduces his partner - Mark Spitznagel's tail risk hedging strategy. For 99% of the time, this seems "foolish." Year after year, he purchases a certain type of "insurance," continuously and in small amounts, "bleeding" during calm bull markets.

In most cases, he seems like a loser.

The mainstream financial world—an圈子 that Taleb sarcastically referred to as the "Mutual Respect Mule Association"—is the "winner" at explaining.

Until the "black swan" arrives - like the financial tsunami in 2008 - the "mules" go bankrupt in an instant, while Spitznagel's fund achieves astonishing returns.

Why are we always in a hurry to explain?

Because we crave instant gratification and seek recognition from others.

The heroic approach is to replace words with actions.

Persisting day after day in doing the right thing in a corner where no one understands.

Your actions are your only explanation. But this explanation is not for the "mules" to hear, but for the ultimate "reality" to hear.
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