I don't read the papers; I stopped reading the papers. I read the papers only during periods of crisis, and I think papers are too long on a regular day and too short days when we have a crisis.

At no point in history have so many non-risk-takers, that is, those with no personal exposure, exerted so much control.

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.

We favor the visible, the embedded, the personal, the narrated, and the tangible; we scorn the abstract.

Academia is to knowledge what prostitution is to love.

I always remind myself that what one observes is at best a combination of variance and returns, not just returns.

It is much harder to become independent if you are wealthy than to become wealthy if you are independent.