The inability to predict outliers implies the inability to predict the course of history

Don't disturb complicated systems that have been around for a very long time. We don't understand their logic. Don't pollute the planet. Leave it the way we found it, regardless of scientific 'evidence'.

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!

Fragility is the quality of things that are vulnerable to volatility.

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.

...maximize the serendipity around you.

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