When an investor focuses on short-term investments, he or she is observing the variability of the portfolio, not the returns - in short, being fooled by randomness.
Nassim Nicholas TalebThe bonus for bankers fragilizes the system. Someone has the upside at the expense of others.
Nassim Nicholas TalebIf one puts an infinite number of monkeys in front of typewriters, and lets them clap away, there is a certainty that one of them will come out with an exact version of the 'Iliad.'
Nassim Nicholas TalebWhen you write, you don't have the social constraints of having people in front of you, so you talk about abstract matters.
Nassim Nicholas TalebI hated school because I liked to daydream and the system tried to stop me from that.
Nassim Nicholas TalebPeople have the problem of denial. This is one of the things I learned in Lebanon. Everybody who left Beirut when the war started, including my parents, said, 'Oh, its temporary.' It lasted 17 years! People tend to underestimate the gravity of these situations. That's how they work.
Nassim Nicholas Taleb