The problem of knowledge is that there are many more books on birds written by ornithologists than books on birds written by birds and books on ornithologists written by birds

Switzerland is the perfect place where you have volatility at a municipal level that nothing up top - small units competing with each other.

I don't know anyone on Wall Street who goes to work every day thinking of anything but how to increase their bonus.

Deficits are like putting dynamite in the hands of children. They can get out of control very quickly.

Never think that lack of variability is stability. Don't confuse lack of volatility with stability, ever.

Anything that provides you with very, very stable income, very stable conditions, maybe generally stable, that often, it masks real risks, risks of blow-ups.

Don't aim to be perfect! Aim to be antifragile