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.

My nightmare scenario is that the government saves Citibank once again, as well as the other banks, and business resumes as usual. Then, the next time the system breaks, it breaks much, much bigger.

When an investor focuses on short-term investments, he or she is observing the variability of the portfolio, not the returns - in short, being fooled by randomness.

Democracies can't handle austerity measures very well.

Switzerland is the perfect place where you have volatility at a municipal level that nothing up top - small units competing with each other.

Writing is the art of repeating oneself without anyone noticing.

I want to live happily in a world I don’t understand.