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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.
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
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Nassim Nicholas Najib Taleb
Nassim Taleb
Losing
Bankers
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Periodically
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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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If humans fight the last war, nature fights the next one.
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He who has never sinned is less reliable than he who has only sinned once.
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I'm in favour of religion as a tamer of arrogance. For a Greek Orthodox, the idea of God as creator outside the human is not God in God's terms. My God isn't the God of George Bush.
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Also, it's good to have more than one profession, in case your own profession goes out of style. A Wall Street trader who's also a belly dancer will do a lot better than a trader who winds up driving a taxi.
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A man without a heroic bent starts dying at the age of thirty.
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There are systems that use failure as fuel for improvement, where the cost of failure is small.
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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 book is the only medium left that hasn't been corrupted by the profane.
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An erudite is someone who displays less than he knows a journalist or consultant the opposite.
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I've debated many economists who claim to specialize in risk and probability: when one takes them slightly outside their narrow focus, but within the discipline of probability, they fall apart, with the disconsolate face of a gym rat in front of a gangster hit man.
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The twentieth century was the bankruptcy of the social utopia the twenty-first will be that of the technological one.
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Heroes are heroes because they are heroic in behavior, not because they won or lost.
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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
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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.
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Economics make homeopath and alternative healers look empirical and scientific.
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Experience is devoid of the cherry-picking that we find in studies.
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A good maxim allows you to have the last word without even starting a conversation.
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A mistake is not something to be determined after the fact, but in the light of the information until that point.
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Maximum of an average is necessarily less volatile than the average maximum
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