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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
Agency
Trade
Line
Banker
Lines
Trades
Problem
Bankers
Neck
Necks
Bank
More quotes by Nassim Nicholas Taleb
Prediction, not narration, is the real test of our understanding of the world.
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If you're going to fail, you'd rather fail early than fail late in general.
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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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Never ask a trader if he is profitable: you can easily see it in his gesture and gait.
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If you let markets - in general, my belief is that if you let markets give you information, they'll give you the information rather than artificially prop up everything.
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The fastest way to become rich is to socialize with the poor the fastest way to become poor is to socialize with the rich.
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Most people are sceptical about the wrong things and gullible about the wrong things.
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Life is a tightrope between two errors: generalizing the wrong particular and particularizing the wrong general.
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The bonus for bankers fragilizes the system. Someone has the upside at the expense of others.
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What fools call wasting time is most often the best investment.
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If humans fight the last war, nature fights the next one.
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Never think that lack of variability is stability. Don't confuse lack of volatility with stability, ever.
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But they never notice the following inconsistency: this so-called worst-case event, when it happened, exceeded the worst case at the time.
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Read books are far less valuable than unread ones.
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Alan Greenspan is unskilled you don't take the unskilled seriously.
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true humility is when you can surprise yourself more than others the rest is either shyness or good marketing
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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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I no longer care about the financial system. I gave them my roadmap. OK? Thanks, bye. I've no idea what's going on. I'm disconnected. I'm totally disengaged.
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Greatness starts with the replacement of hatred with polite disdain.
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Probability is not about the odds, but about the belief in the existence of an alternative outcome, cause, or motive.
Nassim Nicholas Taleb
