M Fisher,

The problem with Taleb is that he has no alternative practical models to better deal with options (pricing, management etc). He merely criticizes the model by giving the impression his readers that he is the only person to be aware of its limits, especially regarding the distribution of stock returns. But fathers of modern finance and followers known for long that stock returns are not normal distributed. I could give you a lot of proofs of what I am saying but it would take too long. So, just read this one :

https://www.dimensional.com/famafrench/questions-answers/qa-confidence-…