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January 25, 2012
Waking Up to the Reality of Fat Tails

Pimco's El-Erian on the unpredictability in global markets leading to extreme events around the world: "Normally, we’re used to thinking of a bell shaped distribution. There’s a dominant theme and very thin tails. Today we’re looking at something different. We’re looking at a distribution that is much flatter and the tails are much fatter."

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