My point taken further is that True and False (hence what we call "belief") play a poor, secondary role in human decisions; it is the payoff from the True and the False that dominates-and it is almost always asymmetric, with one consequence much bigger than the other, i.e., harboring positive and negative asymmetries (fragile or antifragile). Let me explain.

Only the autodidacts are free.

A system, artificially stabilized, and of course you have hidden risks under the surface, and you don't know where the risks are.

It does not matter how frequently something succeeds if failure is too costly to bear.

In economic life and history more generally, just about everything of consequence comes from black swans; ordinary events have paltry effects in the long term.

Your reputation is harmed the most by what you say to defend it.

Deficits are like putting dynamite in the hands of children. They can get out of control very quickly.