The fool generalizes the particular; the nerd particularizes the general; some do both; and the wise does neither
Nassim Nicholas TalebProbability is not a mere computation of odds on the dice or more complicated variants; it is the acceptance of the lack of certainty in our knowledge and the development of methods for dealing with our ignorance.
Nassim Nicholas TalebScientists don't know what they are talking about when they talk about religion. Religion has nothing to do with belief, and I don't believe it has any negative impact on people's lives outside of intolerance. Why do I go to church? It's like asking, why did you marry that woman? You make up reasons, but it's probably just smell. I love the smell of candles. It's an aesthetic thing.
Nassim Nicholas TalebFinancial institutions have been merging into a smaller number of very large banks. Almost all banks are interrelated. So the financial ecology is swelling into gigantic, incestuous, bureaucratic banks-when one fails, they all fall. We have moved from a diversified ecology of small banks, with varied lending policies, to a more homogeneous framework of firms that all resemble one another. True, we now have fewer failures, but when they occur... I shiver at the thought.
Nassim Nicholas Taleb