It does not matter how frequently something succeeds if failure is too costly to bear.

People who forecast simply because "that's my job," knowing pretty well that their forecast is ineffectual, are not what I would call ethical. What they do is no different from repeating lies simply because "it's my job."

Much of the research into humans' risk-avoidance machinery shows that it is antiquated and unfit for the modern world; it is made to counter repeatable attacks and learn from specifics. If someone narrowly escapes being eaten by a tiger in a certain cave, then he learns to avoid that cave.

The imagination of the genius vastly surpasses his intellect; the intellect of the academic vastly surpasses his imagination

A good maxim allows you to have the last word without even starting a conversation.

We glorify those who left their names in history books at the expense of those contributors about whom our books are silent. We humans are not just a superficial race - we are a very unfair one.

If you hear a "prominent" economist using the word 'equilibrium,' or 'normal distribution,' do not argue with him; just ignore him, or try to put a rat down his shirt.