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

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People focus on role models it is more effective to find antimodels - people you don't want to resemble when you grow up
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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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Never ask a trader if he is profitable: you can easily see it in his gesture and gait.
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Maximum of an average is necessarily less volatile than the average maximum
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The best test of whether someone is extremely stupid (or extremely wise) is whether financial and political news makes sense to him.
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But it remains the case that you know what is wrong with a lot more confidence than you know what is right.
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Love without sacrifice is like theft
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We glorify those who left their names in history books at the expense of those contributors about whom our books are silent. We humans are not just a superficial race - we are a very unfair one.
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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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Read books are far less valuable than unread ones. The library should contain as much of what you do not know as your financial means, mortgage rates, and the currently tight real-estate market alow you to put there.
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Success is becoming in middle adulthood what you dreamed to be in late childhood.
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My nightmare scenario is that the government saves Citibank once again, as well as the other banks, and business resumes as usual. Then, the next time the system breaks, it breaks much, much bigger.
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They are born, put in a box they go home to live in a box they study by ticking boxes they go to what is called work in a box, where they sit in their cubicle box they drive to the grocery store in a box to buy food in a box they talk about thinking outside the box and when they die they are put in a box.
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Aesthetics, ethics, and many good things in humans are contagious.
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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 you roll dice, you know that the odds are one in six that the dice will come up on a particular side. So you can calculate the risk. But, in the stock market, such computations are bull - you don't even know how many sides the dice have!
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I want to live happily in a world I don’t understand.
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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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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.
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