The track record of economists in predicting events is monstrously bad. It is beyond simplification; it is like medieval medicine.
Nassim Nicholas TalebIf you let markets - in general, my belief is that if you let markets give you information, they'll give you the information rather than artificially prop up everything.
Nassim Nicholas TalebThe three most harmful addictions are heroin, carbohydrates, and a monthly salary.
Nassim Nicholas TalebCharacter is proportionate to N, the number of consecutive failures without being discouraged, or equivalently, the number of successive rejections without being intimidated.
Nassim Nicholas TalebIf you sat with a pencil and jotted down all the decisions you've taken in the past week, or, if you could, over your lifetime, you would realize that almost all of them have had asymmetric payoff, with one side carrying a larger consequence than the other. You decide principally based on fragility, not probability. Or to rephrase, You decide principally based on fragility, not so much on True/False.
Nassim Nicholas Taleb