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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
Average
Less
Volatile
Maximum
Necessarily

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Dress your best on your execution day. Be extremely courteous to your assistant when you lose money. Try not to blame others for your fate, even if they deserve blame. Never exhibit any self-pity. Do not complain.
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I want them poor and they deserve to be poor. You can't have capitalism without punishment.
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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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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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Read books are far less valuable than unread ones. The library should contain as much of what you do not know as your financial means, mortgage rates, and the currently tight real-estate market alow you to put there.
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Greatness starts with the replacement of hatred with polite disdain.
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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 book is the only medium left that hasn't been corrupted by the profane.
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If something is going on, I hear about it. I like to talk to people, I socialise. Television is a waste of time. Human contact is what matters.
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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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An option hides where we don't want it to hide.
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Banks have never made money in the history of banking, losing the equivalent of all their past profits periodically - while bankers strike it rich.
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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.
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The bonus for bankers fragilizes the system. Someone has the upside at the expense of others.
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Prediction, not narration, is the real test of our understanding of the world.
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A prophet is not someone with special visions, just someone blind to most of what others see
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He who has never sinned is less reliable than he who has only sinned once. And someone who has made plenty of errors-though never the same error more than once-is more reliable than someone who has never made any.
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Globalization has created this interlocking fragility. At no time in the history of the universe has the cancellation of a Christmas order in New York meant layoffs in China.
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Success is becoming in middle adulthood what you dreamed to be in late childhood.
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