In contrast, we have long known of the existence of fat tails in asset markets.

FORBES: Forget New Normal, Old Rules Are Alive And Well

From the perspective of mean reversion, fat tails help to create some of the best opportunities.

FORBES: Forget New Normal, Old Rules Are Alive And Well

Eucatastrophe is to catastrophe, as fat right tails are to fat left tails.

FORBES: Christmas, Kurtosis, Fat Tails, Black Swans and Risk Management

Mandelbrot was writing about the presence of fat tails in the 1960s.

FORBES: Forget New Normal, Old Rules Are Alive And Well

But in the case of fat tails, the losses for the option-writer can be so extreme that his capital is wiped out.

ECONOMIST: Buttonwood

That is to say, fat tails often create fat pitches .

FORBES: Forget New Normal, Old Rules Are Alive And Well

The problem for traders is that it is much more complicated to create models for a world of fat tails than for a world of bell curves.

ECONOMIST: Buttonwood

Ryukins are hardy and comical looking: fat little rascals, some with quadruple tails.

FORBES: Christopher Buckley: At Home With Ahab