When you write, you don't have the social constraints of having people in front of you, so you talk about abstract matters.

Anything that provides you with very, very stable income, very stable conditions, maybe generally stable, that often, it masks real risks, risks of blow-ups.

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

Antifragility is beyond resilience or robustness. The resilient resists shocks and stays the same; the antifragile gets better.

Prediction, not narration, is the real test of our understanding of the world.

Suckers try to win arguments, nonsuckers try to win.

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