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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
Maximum
Necessarily
Average
Less
Volatile

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What we need to do is break the financial community's grip on society.
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Just as being nice to the arrogant is no better than being arrogant toward the nice, being accommodating toward anyone committing a nefarious action condones it.
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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 fool generalizes the particular the nerd particularizes the general some do both and the wise does neither
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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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Only the autodidacts are free.
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Modernity widened the distance between the sensational and the relevant.
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There are secrets to our world that only practice can reveal, and no opinion or analysis will ever capture in full.
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When we want to do something while unconsciously certain to fail, we seek advice so we can blame someone else for the failure.
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The difference between slaves in Roman and Ottoman days and today's employees is that slaves did not need to flatter their boss.
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The psychologist Gerd Gigerenzer has a simple heuristic. Never ask the doctor what you should do. Ask him what he would do if he were in your place. You would be surprised at the difference
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As countries get rich they start increasing education and the very educated people tend to not like trial and error, because they think they're obligated to use the body of knowledge they have.
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A competitive athlete is painful to look at trying hard to become an animal rather than a man, he will never be as fast as a cheetah or as strong as an ox.
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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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Daily news and sugar confuse our system in the same manner.
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The bonus for bankers fragilizes the system. Someone has the upside at the expense of others.
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