The central idea in The Black Swan is that: rare events cannot be estimated from empirical observation since they are rare.

I don't read the papers; I stopped reading the papers. I read the papers only during periods of crisis, and I think papers are too long on a regular day and too short days when we have a crisis.

Procrastination is the soul rebelling against entrapment.

Go to parties. You can't even start to know what you may find on the envelope of serendipity. If you suffer from agoraphobia, send colleagues.

When we want to do something while unconsciously certain to fail, we seek advice so we can blame someone else for the failure.

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

If you roll dice, you know that the odds are one in six that the dice will come up on a particular side. So you can calculate the risk. But, in the stock market, such computations are bull - you don't even know how many sides the dice have!