It was obvious that their profits were simply cash borrowed from destiny with some random payback time.

It's not a good idea to take a forecast from someone wearing a tie. If possible, tease people who take themselves and their knowledge too seriously.

Banks have never made money in the history of banking, losing the equivalent of all their past profits periodically - while bankers strike it rich.

Banking is a very treacherous business because you don't realize it is risky until it is too late. It is like calm waters that deliver huge storms.

Alan Greenspan is unskilled; you don't take the unskilled seriously.

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.

Antifragility is beyond resilience or robustness. The resilient resists shocks and stays the same; the antifragile gets better.