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

To bankrupt a fool, give him information.

The best philosophers were not academics, but had another job, so their philosophy was not corrupted by careerism.

Fragility is the quality of things that are vulnerable to volatility.

Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises with debt spending

But they never notice the following inconsistency: this so-called worst-case event, when it happened, exceeded the worst case at the time.

Stoicism is about the *domestication* of emotions, not their elimination.