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If you are in banking and lending, surprise outcomes are likely to be negative for you.
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
Negative
Lending
Banking
Outcomes
Likely
Surprise
More quotes by Nassim Nicholas Taleb
Decomposition, for most, starts when they leave the free, social, and uncorrupted college life for the solitary confinement of professions and nuclear families.
Nassim Nicholas Taleb
You want to favor systems that benefit from error, disorder, variability and things like that. You want to favor these systems and unfortunately, when - there's something I call the Soviet Illusion. The more the government becomes intrusive, the more things have to follow a script, and it can't handle this kind of system.
Nassim Nicholas Taleb
Banks have never made money in the history of banking, losing the equivalent of all their past profits periodically - while bankers strike it rich.
Nassim Nicholas Taleb
You have a real life if and only if you do not compete with anyone in any of your pursuits.
Nassim Nicholas Taleb
Never ask a trader if he is profitable: you can easily see it in his gesture and gait.
Nassim Nicholas Taleb
The book is the only medium left that hasn't been corrupted by the profane.
Nassim Nicholas Taleb
Failure saves lives. In the airline industry, every time a plane crashes the probability of the next crash is lowered by that. The Titanic saved lives because we're building bigger and bigger ships. So these people died, but we have effectively improved the safety of the system, and nothing failed in vain.
Nassim Nicholas Taleb
Go to parties. You can't even start to know what you may find on the envelope of serendipity. If you suffer from agoraphobia, send colleagues.
Nassim Nicholas Taleb
To succeed in life requires a total inability to do anything that makes you uncomfortable when you look at yourself in the mirror.
Nassim Nicholas Taleb
The worst side effect of wealth is the social associations it forces on its victims, as people with big houses end up socializing with other people with big houses.
Nassim Nicholas Taleb
Only in recent history has working hard signaled pride rather than shame for lack of talent, finesse and, mostly, sprezzatura .
Nassim Nicholas Taleb
When you develop your opinions on the basis of weak evidence, you will have difficulty interpreting subsequent information that contradicts these opinions, even if this new information is obviously more accurate.
Nassim Nicholas Taleb
Private equity has absolutely no reason to exist. The private equity holder has all the upside and the banks all the downside.
Nassim Nicholas Taleb
Read books are far less valuable than unread ones.
Nassim Nicholas Taleb
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.
Nassim Nicholas Taleb
Never ask anyone for their opinion, forecast, or recommendation. Just ask them what they have—or don’t have—in their portfolio.
Nassim Nicholas Taleb
Karl Marx, a visionary, figured out that you can control a slave much better by convincing him he is an employee.
Nassim Nicholas Taleb
We glorify those who left their names in history books at the expense of those contributors about whom our books are silent. We humans are not just a superficial race - we are a very unfair one.
Nassim Nicholas Taleb
The difference between slaves in Roman and Ottoman days and today's employees is that slaves did not need to flatter their boss.
Nassim Nicholas Taleb
Every social association that is not face-to-face is injurious to your health.
Nassim Nicholas Taleb