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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
Nassim Nicholas Taleb
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Nassim Nicholas Taleb
Age: 64
Born: 1960
Born: September 11
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Economist
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Mathematician
Philosopher
Statistician
University Teacher
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Nassim Nicholas Najib Taleb
Nassim Taleb
Doctors
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More quotes by Nassim Nicholas Taleb
The characteristic feature of the loser is to bemoan, in general terms, mankind's flaws, biases, contradictions, and irrationality - without exploiting them for fun and profit
Nassim Nicholas Taleb
You want to favor systems that benefit from error, disorder, variability and things like that. You want to favor these systems and unfortunately, when - there's something I call the Soviet Illusion. The more the government becomes intrusive, the more things have to follow a script, and it can't handle this kind of system.
Nassim Nicholas Taleb
Debt is a mistake between lender and borrower, and both should suffer.
Nassim Nicholas Taleb
It does not matter how frequently something succeeds if failure is too costly to bear.
Nassim Nicholas Taleb
Prediction, not narration, is the real test of our understanding of the world.
Nassim Nicholas Taleb
Private equity has absolutely no reason to exist. The private equity holder has all the upside and the banks all the downside.
Nassim Nicholas Taleb
Capitalism is about adventurers who get harmed by their mistakes, not people who harm others with their mistakes.
Nassim Nicholas Taleb
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.
Nassim Nicholas Taleb
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.
Nassim Nicholas Taleb
It has been more profitable for us to bind together in the wrong direction than to be alone in the right one.
Nassim Nicholas Taleb
When we want to do something while unconsciously certain to fail, we seek advice so we can blame someone else for the failure.
Nassim Nicholas Taleb
Never trust a journalist unless she's your mother.
Nassim Nicholas Taleb
I always remind myself that what one observes is at best a combination of variance and returns, not just returns.
Nassim Nicholas Taleb
If you are in banking and lending, surprise outcomes are likely to be negative for you.
Nassim Nicholas Taleb
Someone bemoaned that there were so few women in economics. But there are also very few men in economics.
Nassim Nicholas Taleb
Read books are far less valuable than unread ones.
Nassim Nicholas Taleb
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.
Nassim Nicholas Taleb
The inability to predict outliers implies the inability to predict the course of history
Nassim Nicholas Taleb
I remind myself of Einstein's remark that common sense is nothing but a collection of misconceptions acquired by age 18.
Nassim Nicholas Taleb
Don't cross a river if it is four feet deep on average.
Nassim Nicholas Taleb
