Nassim Nicholas Taleb
Nassim Nicholas Taleb
Nassim Nicholas Talebis a Lebanese-American essayist, scholar, statistician, former trader, and risk analyst, whose work focuses on problems of randomness, probability, and uncertainty. His 2007 book The Black Swan was described in a review by the Sunday Times as one of the twelve most influential books since World War II...
NationalityLebanese
ProfessionScientist
CountryLebanon
mistake pay-the-price benefits
Bankers, they're not harmed by their mistakes. They benefit when things go right, and the society pays the price.
pay-the-price risk should
We should ban banks from risk-taking because society is going to pay the price.
expectations pay probability
Probability and expectation are not the same. Its probability and probability times the pay off.
fool pay worst
We learn the most from fools ... yet we pay them back with the worst ingratitude.
venture payoff humans
The payoff of a human venture is, in general, inversely proportional to what it is expected to be.
serendipity luck
...maximize the serendipity around you.
weakness
It is a sign of weakness to avoid showing signs of weakness.
delay large members united
In the United States, large corporations control some members of Congress. All this does is delay the corporation's funeral at our expense.
happiness humanity replace trade
Corporations take the humanity out of trade - they take the happiness out and replace it with something that is ugly.
Capitalism has forced everyone to overoptimize in order to compete.
children
You know, children philosophize more than adults - and they are critical of adults.
There are two types of people: those who try to win and those who try to win arguments. They are never the same.
risks
If you take risks and face your fate with dignity, there is nothing you can do that makes you small; if you don't take risks, there is nothing you can do that makes you grand, nothing.
Inequalities of wealth lead to a dispersion in wealth for all.