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As countries get rich they start increasing education and the very educated people tend to not like trial and error, because they think they're obligated to use the body of knowledge they have.

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
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Tend
Think
Countries
Obligated
Education
Trial
Thinking
Rich
Increasing
Like
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Error
People
Knowledge
Trials
Use
Educated
Body
Errors

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Don't cross a river if it is four feet deep on average.
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Success is about honour, feeling morally calibrated, absence of shame, not what some newspaper defines from an external metric.
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Those who do not think that employment is systemic slavery are either blind or employed.
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Also, it's good to have more than one profession, in case your own profession goes out of style. A Wall Street trader who's also a belly dancer will do a lot better than a trader who winds up driving a taxi.
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Few understand that procrastination is our natural defense, letting things take care of themselves and exercise their antifragility it results from some ecological or naturalistic wisdom, and is not always bad - at an existential level, it is my body rebelling against its entrapment. It is my soul fighting the Procrustean bed of modernity.
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What is nonmeasurable and nonpredictable will remain nonmeasurable and nonpredictable ... no matter how much hate mail I get.
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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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Economics make homeopath and alternative healers look empirical and scientific.
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Never think that lack of variability is stability. Don't confuse lack of volatility with stability, ever.
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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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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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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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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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An erudite is someone who displays less than he knows a journalist or consultant the opposite.
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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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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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Go to parties. You can't even start to know what you may find on the envelope of serendipity. If you suffer from agoraphobia, send colleagues.
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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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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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We should reward people, not ridicule them, for thinking the impossible.
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