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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.
Nassim Nicholas Taleb
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Nassim Nicholas Taleb
Age: 64
Born: 1960
Born: September 11
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Economist
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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
Paul Krugman is a danger to society!
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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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It does not matter how frequently something succeeds if failure is too costly to bear.
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Don't read newspapers for the news (just for the gossip and, of course, profiles of authors). The best filter to know if the news matters is if you hear it in cafes, restaurants... or (again) parties.
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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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Let me be more aggressive: we are largely better at doing than we are at thinking, thanks to antifragility. I’d rather be dumb and antifragile than extremely smart and fragile, any time.
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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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Love without sacrifice is like theft
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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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I want to live happily in a world I don’t understand.
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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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If something is going on, I hear about it. I like to talk to people, I socialise. Television is a waste of time. Human contact is what matters.
Nassim Nicholas Taleb
To bankrupt a fool, give him information.
Nassim Nicholas Taleb
The twentieth century was the bankruptcy of the social utopia the twenty-first will be that of the technological one.
Nassim Nicholas Taleb
Modernity has replaced ethics with legalese, and the law can be gamed with a good lawyer.
Nassim Nicholas Taleb
A mistake is not something to be determined after the fact, but in the light of the information until that point.
Nassim Nicholas Taleb
Success is about honour, feeling morally calibrated, absence of shame, not what some newspaper defines from an external metric.
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Private equity has absolutely no reason to exist. The private equity holder has all the upside and the banks all the downside.
Nassim Nicholas Taleb
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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I've debated many economists who claim to specialize in risk and probability: when one takes them slightly outside their narrow focus, but within the discipline of probability, they fall apart, with the disconsolate face of a gym rat in front of a gangster hit man.
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