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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
Realism is punishing. Probabilistic skepticism is worse.
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What we do today has nothing to do with capitalism or socialism. It is a crony type of system that transfers money to the coffers of bureaucrats.
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Comfort makes you weaker. We need some variability, some stressors. Not too much, but just enough.
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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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Heroes are heroes because they are heroic in behavior, not because they won or lost.
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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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What is nonmeasurable and nonpredictable will remain nonmeasurable and nonpredictable ... no matter how much hate mail I get.
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Life is a tightrope between two errors: generalizing the wrong particular and particularizing the wrong general.
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The fragile wants tranquility, the antifragile grows from disorder, and the robust doesn't care too much.
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If my detractors knew me better they would hate me even more.
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The inability to predict outliers implies the inability to predict the course of history
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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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Daily news and sugar confuse our system in the same manner.
Nassim Nicholas Taleb
I don't know anyone on Wall Street who goes to work every day thinking of anything but how to increase their bonus.
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Doctors most commonly get mixed up between absence of evidence and evidence of abense
Nassim Nicholas Taleb
The difference between slaves in Roman and Ottoman days and today's employees is that slaves did not need to flatter their boss.
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There are secrets to our world that only practice can reveal, and no opinion or analysis will ever capture in full.
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Probability is not about the odds, but about the belief in the existence of an alternative outcome, cause, or motive.
Nassim Nicholas Taleb
Don't cross a river if it is four feet deep on average.
Nassim Nicholas Taleb
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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