Banks have never made money in the history of banking, losing the equivalent of all their past profits periodically - while bankers strike it rich.
Nassim Nicholas TalebWhen 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 TalebIf you have more than one reason to do something (choose a doctor or veterinarian, hire a gardener or an employee, marry a person, go on a trip), just donโt do it. It does not mean that one reason is better than two, just that by invoking more than one reason you are trying to convince yourself to do something. Obvious decisions (robust to error) require no more than a single reason.
Nassim Nicholas Taleb