Quotes About Risk

which a loss is more painful than a gain is pleasant):

Nassim Nicholas Taleb

We inherited the taste for uncalculated risk taking. Should we encourage such behavior?

It does not matter how frequently something succeeds if failure is too costly to bear.

In fact, economic growth comes from such risk taking.

There are some risks we just cannot afford to take. And there are other risks (of the type academics shun) that we cannot afford to not take.

few want to jeopardize their jobs and reputation for the sake of change.

have some element of loss aversion.

We are gliding into disorder, but not necessarily bad disorder. This implies that we will see more periods of calm and stability, with most problems concentrated into a small number of Black Swans.

And one needs to be rational in not making trial and error completely random.

Traders were replaced by computers, for very small visible benefits and massively large risks.

many people become long-term investors after they lose money, postponing their decision to sell as part of their denial.

While errors made by traders are confined and distributed, those made by computerized systems go wild

as to what to do in the event of losses.

that we generally take risks not out of bravado but out of ignorance and blindness to probability!

Lembre-se também do que vimos no capítulo 2: a sobrecompensação, para funcionar, exige algum nível de dano e estressores como ferramentas de descoberta

who benefited from a market cycle.

I believe that risk aversion does not exist: what we observe is, simply, a residual of ergodicity. People are, simply, trying to avoid financial suicide and take a certain attitude to tail risks.

Things designed by people without skin in the game tend to grow in complication (before their final collapse).

but would treat cost of search as "loss.

But you are already there; why take more risks?

Some blindness to the odds or an obsession with their own positive Black Swan is necessary for entrepreneurs to function. The

Selfish courage is not courage. A foolish gambler is not committing an act of courage, especially if he is risking other people's funds or has a family to feed.*4

So the antifragile can lose for a long time with impunity, so long as he happens to be right once; for the fragile, a single loss can be terminal.