We should probably stop trading derivatives, anything more complex than regular options ... I am an options trader, and I don't understand options. How do you want a regulator to understand them?

Realism is punishing. Probabilistic skepticism is worse.

Probability and expectation are not the same. Its probability and probability times the pay off.

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

I am happy everywhere except in places where I see glitz and rich farts. I am happiest in Brooklyn, where the concentration of rich farts is minimal.

Only the autodidacts are free.

Never ask anyone for their opinion, forecast, or recommendation. Just ask them what they have—or don’t have—in their portfolio.