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Banking is a very treacherous business because you don't realize it is risky until it is too late. It is like calm waters that deliver huge storms.
Nassim Nicholas Taleb
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Nassim Nicholas Taleb
Age: 64
Born: 1960
Born: September 11
Author
Economist
Essayist
Mathematician
Philosopher
Statistician
University Teacher
Writer
Nassim Nicholas Najib Taleb
Nassim Taleb
Late
Treacherous
Realize
Risky
Huge
Storms
Realizing
Banking
Water
Waters
Business
Deliver
Like
Storm
Calm
More quotes by Nassim Nicholas Taleb
Forecasting by bureaucrats tends to be used for anxiety relief rather than for adequate policy making.
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I no longer care about the financial system. I gave them my roadmap. OK? Thanks, bye. I've no idea what's going on. I'm disconnected. I'm totally disengaged.
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Someone bemoaned that there were so few women in economics. But there are also very few men in economics.
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Private equity has absolutely no reason to exist. The private equity holder has all the upside and the banks all the downside.
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I've debated many economists who claim to specialize in risk and probability: when one takes them slightly outside their narrow focus, but within the discipline of probability, they fall apart, with the disconsolate face of a gym rat in front of a gangster hit man.
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Modernity has replaced ethics with legalese, and the law can be gamed with a good lawyer.
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It is often the mistakes of others that benefit the rest of us and, sadly, not them ... For the antifragile, harm from errors should be less than the benefits.
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Modernity widened the distance between the sensational and the relevant.
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If you are in banking and lending, surprise outcomes are likely to be negative for you.
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It does not matter how frequently something succeeds if failure is too costly to bear.
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It is a sign of weakness to avoid showing signs of weakness.
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He who has never sinned is less reliable than he who has only sinned once. And someone who has made plenty of errors-though never the same error more than once-is more reliable than someone who has never made any.
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Anything organic requires some dose of variability so it can adapt all the time, and fixing things is not a good idea.
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They are born, put in a box they go home to live in a box they study by ticking boxes they go to what is called work in a box, where they sit in their cubicle box they drive to the grocery store in a box to buy food in a box they talk about thinking outside the box and when they die they are put in a box.
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History is opaque. You see what comes out, not the script that produces events, [...] The generator of historical events is different from the events themselves, much as the minds of the gods cannot be read just by witnessing their deeds.
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As countries get rich they start increasing education and the very educated people tend to not like trial and error, because they think they're obligated to use the body of knowledge they have.
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If something is going on, I hear about it. I like to talk to people, I socialise. Television is a waste of time. Human contact is what matters.
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I hated school because I liked to daydream and the system tried to stop me from that.
Nassim Nicholas Taleb
When you ask people, 'What's the opposite of fragile?,' they tend to say robust, resilient, adaptable, solid, strong. That's not it. The opposite of fragile is something that gains from disorder.
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I don't know anyone on Wall Street who goes to work every day thinking of anything but how to increase their bonus.
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