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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
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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
Absolutely
Exist
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Business
Downside
Reason
Upside
Equity
Banks
Finance
Private
More quotes by Nassim Nicholas Taleb
When I trade, I don't have an agency problem I have my neck on the line. When a bank or banker trades, it's not his neck on the line.
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 read newspapers for the news (just for the gossip and, of course, profiles of authors). The best filter to know if the news matters is if you hear it in cafes, restaurants... or (again) parties.
Nassim Nicholas Taleb
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
The inability to predict outliers implies the inability to predict the course of history
Nassim Nicholas Taleb
Forecasting by bureaucrats tends to be used for anxiety relief rather than for adequate policy making.
Nassim Nicholas Taleb
The world we live in is vastly different from the world we think we live in.
Nassim Nicholas Taleb
I'm a capitalist but one who is smallist and localist, and who favours businesses where owners are still in charge.
Nassim Nicholas Taleb
Never ask anyone for their opinion, forecast, or recommendation. Just ask them what they have—or don’t have—in their portfolio.
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
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.
Nassim Nicholas Taleb
The difference between slaves in Roman and Ottoman days and today's employees is that slaves did not need to flatter their boss.
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
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
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
A prophet is not someone with special visions, just someone blind to most of what others see
Nassim Nicholas Taleb
Luck is the grand equalizer.
Nassim Nicholas Taleb
I want to live happily in a world I don’t understand.
Nassim Nicholas Taleb
What is nonmeasurable and nonpredictable will remain nonmeasurable and nonpredictable ... no matter how much hate mail I get.
Nassim Nicholas Taleb
Experience is devoid of the cherry-picking that we find in studies.
Nassim Nicholas Taleb