Private equity has absolutely no reason to exist. The private equity holder has all the upside and the banks all the downside.
Nassim Nicholas TalebMy major hobby is teasing people who take themselves and the quality of their knowledge too seriously and those who don't have the guts to sometimes say: I don't know.
Nassim Nicholas TalebIf there is something in nature you don't understand, odds are it makes sense in a deeper way that is beyond your understanding. So there is a logic to natural things that is much superior to our own. Just as there is a dichotomy in law: 'innocent until proven guilty' as opposed to 'guilty until proven innocent', let me express my rule as follows: what Mother Nature does is rigorous until proven otherwise; what humans and science do is flawed until proven otherwise.
Nassim Nicholas TalebIn the United States large corporations control some members of Congress. All this does is delay the corporationโs funeral at our expense.
Nassim Nicholas Taleb