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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
Writer
Nassim Nicholas Najib Taleb
Nassim Taleb
History
Equivalent
Money
Banking
Past
Banks
Made
Strike
Never
Strikes
Profit
Periodically
Losing
Bankers
Rich
Profits

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[A] theory is a very dangerous thing to have.
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I don't know anyone on Wall Street who goes to work every day thinking of anything but how to increase their bonus.
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I'd rather have the market tell us what - I'd rather have events precipitate events, rather than just sit there like passive people in Washington.
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You want to be yourself, idiosyncratic the collective (school, rules, jobs, technology) wants you generic to the point of castration.
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Writing is the art of repeating oneself without anyone noticing.
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Stoicism is about the *domestication* of emotions, not their elimination.
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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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The twentieth century was the bankruptcy of the social utopia the twenty-first will be that of the technological one.
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The world we live in is vastly different from the world we think we live in.
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Modernity: we created youth without heroism, age without wisdom, and life without grandeur
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Things always become obvious after the fact
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It is also naïve empiricism to provide, in support of some argument, series of eloquent confirmatory quotes by dead authorities. By searching, you can always find someone who made a well-sounding statement that confirms your point of view and, on every topic, it is possible to find another dead thinker who said the exact opposite.
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Those who do not think that employment is systemic slavery are either blind or employed.
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They think that intelligence is about noticing things are relevant (detecting patterns) in a complex world, intelligence consists in ignoring things that are irrelevant (avoiding false patterns)
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If humans fight the last war, nature fights the next one.
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There is no effective difference between guessing a variable that is not random, but for which information is partial or deficient, and a random one. In this sense, guessing (what I don't know, but what someone else may know) and predicting (what has not taken place yet) are the same thing.
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If you're going to fail, you'd rather fail early than fail late in general.
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Economic life should be definancialised. We should learn not to use markets as storehouses of value: they do not harbour the certainties that normal citizens require. Citizens should experience anxiety about their own businesses (which they control), not their investments (which they do not control).
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The rationalist imagines an imbecile-free society the empiricist and imbecile-proof one, or even better, a rationalist-proof one.
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