Because of its potential to "predict the unpredictable," Extreme Value Theory (EVT) and its methodology are currently in the spotlight. EVT affords some insight into extreme tails and maxima where standard models have proved unreliable. This is achieved with semi-parametric models which only specify the distributional shapes of maxima or of extreme tails. The rationale for these models are very basic limit and stability arguments. Bringing together world-recognized authorities, Extreme Values in Finance, Telecommunications, and the Environment puts to rest some of the myths and misconceptions...