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!

Make sure that you are in a situation where the constant mistakes are small and can be used for something.

The inability to predict outliers implies the inability to predict the course of history

Character is proportionate to N, the number of consecutive failures without being discouraged, or equivalently, the number of successive rejections without being intimidated.

Maximum of an average is necessarily less volatile than the average maximum

If there is something in nature you don't understand, odds are it makes sense in a deeper way that is beyond your understanding. So there is a logic to natural things that is much superior to our own. Just as there is a dichotomy in law: 'innocent until proven guilty' as opposed to 'guilty until proven innocent', let me express my rule as follows: what Mother Nature does is rigorous until proven otherwise; what humans and science do is flawed until proven otherwise.

Nobody reads the disclosures that roll down your computer screen. You click 'I agree' but you don't know what you're agreeing to.