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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
Business
Downside
Reason
Upside
Equity
Banks
Finance
Private
Absolutely
Exist
Holder

More quotes by Nassim Nicholas Taleb

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The inability to predict outliers implies the inability to predict the course of history
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It is my great hope someday, to see science and decision makers rediscover what the ancients have always known. Namely that our highest currency is respect.
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It's harder to say 'no' when you really mean it.
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Only the autodidacts are free.
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Antifragility is beyond resilience or robustness. The resilient resists shocks and stays the same the antifragile gets better.
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Writing is the art of repeating oneself without anyone noticing.
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If you don't feel that you haven't read enough, you haven't read enough.
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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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Is the economy something organic or is it something engineered? I think it's closer to the organic. You harm it by artificially suppressing volatility in it.
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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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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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Experience is devoid of the cherry-picking that we find in studies.
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It was obvious that their profits were simply cash borrowed from destiny with some random payback time.
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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.
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When we want to do something while unconsciously certain to fail, we seek advice so we can blame someone else for the failure.
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When you ask people, 'What's the opposite of fragile?,' they tend to say robust, resilient, adaptable, solid, strong. That's not it. The opposite of fragile is something that gains from disorder.
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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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Missing a train is only painful if you run after it! Likewise, not matching the idea of success others expect from you is only painful if that’s what you are seeking.
Nassim Nicholas Taleb
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Dress your best on your execution day. Be extremely courteous to your assistant when you lose money. Try not to blame others for your fate, even if they deserve blame. Never exhibit any self-pity. Do not complain.
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Life is a tightrope between two errors: generalizing the wrong particular and particularizing the wrong general.
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