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When I trade, I don't have an agency problem I have my neck on the line. When a bank or banker trades, it's not his neck on the line.
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
Problem
Bankers
Neck
Necks
Bank
Agency
Trade
Line
Banker
Lines
Trades
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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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Simplicity is not so simple to attain.
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The American people will eventually get hurt by this accumulated deficit. That's the problem. We have too much deficit. We have to find a solution.
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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.
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Prediction, not narration, is the real test of our understanding of the world.
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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.
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Your reputation is harmed the most by what you say to defend it.
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Greatness starts with the replacement of hatred with polite disdain.
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I lift heavy weights and sprint, but I am so bad at it that I develop severe injuries.
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When you beat up someone physically, you get excercise and stress relief when you assault him verbally on the Internet, you just harm yourself.
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It has been more profitable for us to bind together in the wrong direction than to be alone in the right one.
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Education makes the wise slightly wiser, but it makes the fool vastly more dangerous.
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Read books are far less valuable than unread ones.
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Antifragility is beyond resilience or robustness. The resilient resists shocks and stays the same the antifragile gets better.
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The world we live in is vastly different from the world we think we live in.
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Also, it's good to have more than one profession, in case your own profession goes out of style. A Wall Street trader who's also a belly dancer will do a lot better than a trader who winds up driving a taxi.
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Only the autodidacts are free.
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The traits I respect are erudition and the courage to stand up when half-men are afraid for their reputation. Any idiot can be intelligent.
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Debt is a mistake between lender and borrower, and both should suffer.
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Decomposition, for most, starts when they leave the free, social, and uncorrupted college life for the solitary confinement of professions and nuclear families.
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