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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
Bank
Agency
Trade
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Banker
Lines
Trades
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Bankers
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Necks
More quotes by Nassim Nicholas Taleb
Is the economy something organic or is it something engineered? I think it's closer to the organic. You harm it by artificially suppressing volatility in it.
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The bonus for bankers fragilizes the system. Someone has the upside at the expense of others.
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Simplicity is not so simple to attain.
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You will be civilized on the day you can spend a long period doing nothing, learning nothing, and improving nothing, without feeling the slightest amount of guilt.
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The book is the only medium left that hasn't been corrupted by the profane.
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Comfort makes you weaker. We need some variability, some stressors. Not too much, but just enough.
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A verbal threat is the most authentic certificate of impotence.
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Philosophers talk about truth and falsehood. People in life talk about payoff, exposure, and consequences (risks and rewards), hence fragility and antifragility. And sometimes philosophers and thinkers and those who study conflate Truth with risks and rewards.
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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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Asking science to explain life and vital matters is equivalent to asking a grammarian to explain poetry.
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My best definition of a nerd: someone who asks you to explain an aphorism
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Life is a tightrope between two errors: generalizing the wrong particular and particularizing the wrong general.
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Your reputation is harmed the most by what you say to defend it.
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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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Only the autodidacts are free.
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I hated school because I liked to daydream and the system tried to stop me from that.
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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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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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The number of managers with great track records in a given market depends far more on the number of people who started in the investment business (in place of going to dental school), rather than on their ability to produce profits.
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