Quotes About Nassim

But we don't easily translate this to other domains and remain victims of scientism

options pushed me to study the math of probability.

grammar is something people without anything more exciting to do in their lives codify into a book. While

One of the attractive aspects of my profession as a quantitative option trader is that

I have had the privilege to work with colleagues who have hidden paranoid disorders that come to the surface on occasion.

the lucky surge of interest for reasons completely external to the works themselves.

they would not buy my ideas on robust risk management because "everyone uses these textbooks.

Can be generalized to politics, anything where the penalty is weak and the victims are abstract and distributed (say taxpayers or shareholders).

aside from deriving conclusions from static measures of inequality—the methods he used were flawed:

Scorn of the abstract: favoring contextualized thinking over more abstract, though more relevant, matters. "The death of one child is a tragedy; the death of a million is a statistic.

Such statements, that other traders had also gotten into trouble, are self-incriminating.

The problem is that they did not want these tables to exhibit any form of regularity. Yet real randomness does not look random!

Note a slight disagreement on my part that does not change the story by much: the world, rather, moves by large incremental random changes.

but runs the risk of killing a few, with a net benefit to society.

the "planning fallacy," in which they try to explain the fact that projects take longer, rarely less time, using psychological factors.

you never cure structural defects; the system corrects itself by collapsing.*2

Lembre-se da assimetria fundamental: o antifrágil beneficia-se com a volatilidade e a desordem; o frágil é prejudicado. Bem, tempo e desordem são a mesma coisa.

I am not saying that for an individual, education is useless: it builds helpful credentials for one's own career—but such effect washes out at the country level.

I never meant to say that the Conservatives are generally stupid. I meant to say that stupid people are generally Conservative," John Stuart Mill once complained. This problem is chronic: if you tell people that the key to success is not always skills, they think that you are telling them that it is never skills, always luck.

who benefited from a market cycle.

every search has incrementally a higher probability of yielding a result

they are explicitly designed to benefit from market volatility.

it. It was a physical sensation, perhaps a mixture of joy, pride, and terror.

their role being confined to analysis, not decision making.