We should ban banks from risk-taking because society is going to pay the price.
Nassim Nicholas TalebAnything that provides you with very, very stable income, very stable conditions, maybe generally stable, that often, it masks real risks, risks of blow-ups.
Nassim Nicholas TalebFurther, in writing, I feel corrupt and unethical if I have to look up a subject in a library as part of the writing itself. This acts as a filter--it is the only filter. If the subject is not interesting enough for me to look it up independently, for my own curiosity or purposes, and I have not done so before, then I should not be writing about it at all, period. It does not mean that libraries (physical and virtual) are not acceptable; it means that they should not be the source of any idea.
Nassim Nicholas TalebPrivate equity has absolutely no reason to exist. The private equity holder has all the upside and the banks all the downside.
Nassim Nicholas Taleb