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Life is a tightrope between two errors: generalizing the wrong particular and particularizing the wrong general.

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
Tightrope
Investing
Errors
General
Particular
Wrong
Two
Generalisation
Life
Generalizing

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Debt is a mistake between lender and borrower, and both should suffer.
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By setting oneself totally free of constraints, free of thoughts, free of this debilitating activity called work, free of efforts, elements hidden in the texture of reality start staring at you then mysteries that you never thought existed emerge in front of your eyes.
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Cumulative errors depend largely on the big surprises, the big opportunities. Not only do economic, financial, and political predictors miss them, but they are quite ashamed to say anything outlandish to their clients and yet events, it turns out, are almost always outlandish.
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Probability is not a mere computation of odds on the dice or more complicated variants it is the acceptance of the lack of certainty in our knowledge and the development of methods for dealing with our ignorance.
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Scepticism is effortful and costly. It is better to be sceptical about matters of large consequences, and be imperfect, foolish and human in the small and the aesthetic.
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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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It was obvious that their profits were simply cash borrowed from destiny with some random payback time.
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An option hides where we don't want it to hide.
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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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Capitalism is about adventurers who get harmed by their mistakes, not people who harm others with their mistakes.
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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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Maximum of an average is necessarily less volatile than the average maximum
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Please, don’t drive a school bus blindfolded.
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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.
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Poverty is clearly one source of emotional suffering, but there are others, like loneliness.
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Never ask anyone for their opinion, forecast, or recommendation. Just ask them what they have—or don’t have—in their portfolio.
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Don't disturb complicated systems that have been around for a very long time. We don't understand their logic. Don't pollute the planet. Leave it the way we found it, regardless of scientific 'evidence'.
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The bonus for bankers fragilizes the system. Someone has the upside at the expense of others.
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You don't become completely free by just avoiding being a slave you also need to avoid becoming a master.
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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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