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Maximum of an average is necessarily less volatile than the average maximum

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
Volatile
Maximum
Necessarily
Average
Less

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Writing is the art of repeating oneself without anyone noticing.
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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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If you roll dice, you know that the odds are one in six that the dice will come up on a particular side. So you can calculate the risk. But, in the stock market, such computations are bull - you don't even know how many sides the dice have!
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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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People focus on role models it is more effective to find antimodels - people you don't want to resemble when you grow up
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Karl Marx, a visionary, figured out that you can control a slave much better by convincing him he is an employee.
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Wittgenstein's ruler: Unless you have confidence in the ruler's reliability, if you use a ruler to measure a table you may also be using the table to measure the ruler.
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Umberto Eco is the owner of a large personal library of almost 30,000 books that he has not read. [To him] 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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Most so-called writers keep writing and writing with the hope, some day, to find something to say.
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The best way to measure the loss of intellectual sophistication - this nerdification, to put it bluntly - is in the growing disappearance of sarcasm, as mechanic minds take insults a bit too literally.
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The best test of whether someone is extremely stupid (or extremely wise) is whether financial and political news makes sense to him.
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It is often the mistakes of others that benefit the rest of us and, sadly, not them ... For the antifragile, harm from errors should be less than the benefits.
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We should probably stop trading derivatives, anything more complex than regular options ... I am an options trader, and I don't understand options. How do you want a regulator to understand them?
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To bankrupt a fool, give him information.
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Don't ask the barber whether you need a haircut, and don't ask an academic if what he does is relevant.
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Those who do not think that employment is systemic slavery are either blind or employed.
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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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An erudite is someone who displays less than he knows a journalist or consultant the opposite.
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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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