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Never think that lack of variability is stability. Don't confuse lack of volatility with stability, ever.
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
Confuse
Stability
Lack
Ever
Never
Think
Thinking
Variability
Volatility
More quotes by Nassim Nicholas Taleb
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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There are systems that use failure as fuel for improvement, where the cost of failure is small.
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An erudite is someone who displays less than he knows a journalist or consultant the opposite.
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I always remind myself that what one observes is at best a combination of variance and returns, not just returns.
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Modernity: we created youth without heroism, age without wisdom, and life without grandeur
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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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The fool generalizes the particular the nerd particularizes the general some do both and the wise does neither
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Things always become obvious after the fact
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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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Education makes the wise slightly wiser, but it makes the fool vastly more dangerous.
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We know from chaos theory that even if you had a perfect model of the world, you'd need infinite precision in order to predict future events. With sociopolitical or economic phenomena, we don't have anything like that.
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Paul Krugman is a danger to society!
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I disagree with the followers of Marx and those of Adam Smith: the reason free markets work is because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill.
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An option hides where we don't want it to hide.
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Missing a train is only painful if you run after it! Likewise, not matching the idea of success others expect from you is only painful if that’s what you are seeking.
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Maximum of an average is necessarily less volatile than the average maximum
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Modernity widened the distance between the sensational and the relevant.
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Avoid losers. If you hear someone use the words 'impossible', 'never', 'too difficult' too often, drop him or her from your social network.
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Don't cross a river if it is four feet deep on average.
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It's not a good idea to take a forecast from someone wearing a tie. If possible, tease people who take themselves and their knowledge too seriously.
Nassim Nicholas Taleb
