Banking is a very treacherous business because you don't realize it is risky until it is too late. It is like calm waters that deliver huge storms.

Rationalism crashes in the tails.

You don't become completely free by just avoiding being a slave; you also need to avoid becoming a master.

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

The fool generalizes the particular; the nerd particularizes the general; some do both; and the wise does neither

Read books are far less valuable than unread ones.

The track record of economists in predicting events is monstrously bad. It is beyond simplification; it is like medieval medicine.