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The worst side effect of wealth is the social associations it forces on its victims, as people with big houses end up socializing with other people with big houses.
Nassim Nicholas Taleb
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Nassim Nicholas Taleb
Age: 64
Born: 1960
Born: September 11
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Economist
Essayist
Mathematician
Philosopher
Statistician
University Teacher
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Nassim Nicholas Najib Taleb
Nassim Taleb
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More quotes by Nassim Nicholas Taleb
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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Prediction, not narration, is the real test of our understanding of the world.
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Forecasting by bureaucrats tends to be used for anxiety relief rather than for adequate policy making.
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Stoicism is about the *domestication* of emotions, not their elimination.
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The sucker's trap is when you focus on what you know and what others don't know, rather than the reverse.
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When some systems are stuck in a dangerous impasse, randomness and only randomness can unlock them and set them free.
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The same past data can confirm a theory and its exact opposite! If you survive until tomorrow, it could mean that either a) you are more likely to be immortal or b) that you are closer to death.
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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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I no longer care about the financial system. I gave them my roadmap. OK? Thanks, bye. I've no idea what's going on. I'm disconnected. I'm totally disengaged.
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The number of managers with great track records in a given market depends far more on the number of people who started in the investment business (in place of going to dental school), rather than on their ability to produce profits.
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I'm a capitalist but one who is smallist and localist, and who favours businesses where owners are still in charge.
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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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Banks have never made money in the history of banking, losing the equivalent of all their past profits periodically - while bankers strike it rich.
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If you let markets - in general, my belief is that if you let markets give you information, they'll give you the information rather than artificially prop up everything.
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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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It's not a good idea to take a forecast from someone wearing a tie. If possible, tease people who take themselves and their knowledge too seriously.
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Modernity has replaced ethics with legalese, and the law can be gamed with a good lawyer.
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Decomposition, for most, starts when they leave the free, social, and uncorrupted college life for the solitary confinement of professions and nuclear families.
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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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The world we live in is vastly different from the world we think we live in.
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