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We should probably stop trading derivatives, anything more complex than regular options ... I am an options trader, and I don't understand options. How do you want a regulator to understand them?

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
Complex
Regulators
Probably
Derivatives
Stop
Traders
Understand
Trading
Business
Options
Anything
Finance
Regular
Regulator
Complexes
Trader

More quotes by Nassim Nicholas Taleb

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An option hides where we don't want it to hide.
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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.
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He who has never sinned is less reliable than he who has only sinned once.
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I suppose that the main benefit of being rich (over just being independent) is to be able to despise rich people (a good concentration of whom you find in glitzy ski resorts) without any sour grapes. It is even sweeter when these farts don't know that you are richer than they are.
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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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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.
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Daily news and sugar confuse our system in the same manner.
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Ideas come and go, stories stay.
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Probability is not about the odds, but about the belief in the existence of an alternative outcome, cause, or motive.
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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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Steve Jobs, Bill Gates and Mark Zuckerberg didn't finish college. Too much emphasis is placed on formal education - I told my children not to worry about their grades but to enjoy learning.
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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
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A washing machine needs constant maintenance. It doesn't want any harm. It wants tranquility, and you need someone to - you're not going to harm it by continuously monitoring it and adjusting it.
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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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I hated school because I liked to daydream and the system tried to stop me from that.
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Umberto Eco is the owner of a large personal library of almost 30,000 books that he has not read. [To him] read books are far less valuable than unread ones.
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If I could predict what my day would exactly look like, I would feel a little bit dead.
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It does not matter how frequently something succeeds if failure is too costly to bear.
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We should ban banks from risk-taking because society is going to pay the price.
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It has been more profitable for us to bind together in the wrong direction than to be alone in the right one.
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