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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.
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
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More quotes by Nassim Nicholas Taleb
There is a certain category of fool-the overeducated, the academic, the journalist, the newspaper reader, the mechanistic scientist, the pseudo-empiricist, those endowed with what I call epistemic arrogance, this wonderful ability to discount what they did not see, the unobserved.
Nassim Nicholas Taleb
The twentieth century was the bankruptcy of the social utopia the twenty-first will be that of the technological one.
Nassim Nicholas Taleb
People used to wear ordinary clothes weekdays, and formal attire on Sunday. Today it is the exact reverse.
Nassim Nicholas Taleb
Anything that provides you with very, very stable income, very stable conditions, maybe generally stable, that often, it masks real risks, risks of blow-ups.
Nassim Nicholas Taleb
I don't know anyone on Wall Street who goes to work every day thinking of anything but how to increase their bonus.
Nassim Nicholas Taleb
Read books are far less valuable than unread ones.
Nassim Nicholas Taleb
Avoid losers. If you hear someone use the words 'impossible', 'never', 'too difficult' too often, drop him or her from your social network.
Nassim Nicholas Taleb
It might be useful to be able to predict war. But tension does not necessarily lead to war, but often to peace and to denouement.
Nassim Nicholas Taleb
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.
Nassim Nicholas Taleb
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.
Nassim Nicholas Taleb
While in theory randomness is an intrinsic property, in practice, randomness is incomplete information.
Nassim Nicholas Taleb
Cumulative errors depend largely on the big surprises, the big opportunities. Not only do economic, financial, and political predictors miss them, but they are quite ashamed to say anything outlandish to their clients and yet events, it turns out, are almost always outlandish.
Nassim Nicholas Taleb
The book is the only medium left that hasn't been corrupted by the profane.
Nassim Nicholas Taleb
The rationalist imagines an imbecile-free society the empiricist and imbecile-proof one, or even better, a rationalist-proof one.
Nassim Nicholas Taleb
The world we live in is vastly different from the world we think we live in.
Nassim Nicholas Taleb
Those who do not think that employment is systemic slavery are either blind or employed.
Nassim Nicholas Taleb
Another definition of modernity: conversations can be more and more completely reconstructed with clips from other conversations taking place at the same time on the planet.
Nassim Nicholas Taleb
To succeed in life requires a total inability to do anything that makes you uncomfortable when you look at yourself in the mirror.
Nassim Nicholas Taleb
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.
Nassim Nicholas Taleb
Probability is not a mere computation of odds on the dice or more complicated variants it is the acceptance of the lack of certainty in our knowledge and the development of methods for dealing with our ignorance.
Nassim Nicholas Taleb
