Probability and expectation are not the same. Its probability and probability times the pay off.

If you see fraud and do not say fraud, you are a fraud.

Globalization has created this interlocking fragility. At no time in the history of the universe has the cancellation of a Christmas order in New York meant layoffs in China.

A washing machine needs constant maintenance. It doesn't want any harm. It wants tranquility, and you need someone to - you're not going to harm it by continuously monitoring it and adjusting it.

A mistake is not something to be determined after the fact, but in the light of the information until that point.

The central idea in The Black Swan is that: rare events cannot be estimated from empirical observation since they are rare.

The fastest way to become rich is to socialize with the poor; the fastest way to become poor is to socialize with the rich.