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Debt is a mistake between lender and borrower, and both should suffer.
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
Lenders
Suffer
Debt
Mistake
Suffering
Lender
Borrower
Borrowers
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When some systems are stuck in a dangerous impasse, randomness and only randomness can unlock them and set them free.
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It's harder to say 'no' when you really mean it.
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By setting oneself totally free of constraints, free of thoughts, free of this debilitating activity called work, free of efforts, elements hidden in the texture of reality start staring at you then mysteries that you never thought existed emerge in front of your eyes.
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Your reputation is harmed the most by what you say to defend it.
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I want to live happily in a world I don’t understand.
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For the classics philosophical insight was the product of a life of leisure for me a life of leisure is the product of philosophical insight.
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Don't cross a river if it is four feet deep on average.
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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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They think that intelligence is about noticing things are relevant (detecting patterns) in a complex world, intelligence consists in ignoring things that are irrelevant (avoiding false patterns)
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It is a sign of weakness to avoid showing signs of weakness.
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When we want to do something while unconsciously certain to fail, we seek advice so we can blame someone else for the failure.
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We should probably stop trading derivatives, anything more complex than regular options ... I am an options trader, and I don't understand options. How do you want a regulator to understand them?
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To succeed in life requires a total inability to do anything that makes you uncomfortable when you look at yourself in the mirror.
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But it remains the case that you know what is wrong with a lot more confidence than you know what is right.
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Cumulative errors depend largely on the big surprises, the big opportunities. Not only do economic, financial, and political predictors miss them, but they are quite ashamed to say anything outlandish to their clients and yet events, it turns out, are almost always outlandish.
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People used to wear ordinary clothes weekdays, and formal attire on Sunday. Today it is the exact reverse.
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What we need to do is break the financial community's grip on society.
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Every social association that is not face-to-face is injurious to your health.
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This is the tragedy of modernity: as with neurotically overprotective parents, those trying to help are often hurting us the most.
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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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