Nassim Nicholas Taleb - Quotes

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Most people are sceptical about the wrong things and gullible about the wrong things. ---->>>

I hated school because I liked to daydream and the system tried to stop me from that. ---->>>

Steve Jobs, Bill Gates and Mark Zuckerberg didn't finish college. Too much emphasis is placed on formal education - I told my children not to worry about their grades but to enjoy learning.

Steve Jobs, Bill Gates and Mark Zuckerberg didn't finish college. Too much emphasis is placed on formal education - I told my children not to worry about their grades but to enjoy learning.

Failure saves lives. In the airline industry, every time a plane crashes the probability of the next crash is lowered by that. The Titanic saved lives because we're building bigger and bigger ships. So these people died, but we have effectively improved the safety of the system, and nothing failed in vain.

Failure saves lives. In the airline industry, every time a plane crashes the probability of the next crash is lowered by that. The Titanic saved lives because we're building bigger and bigger ships. So these people died, but we have effectively improved the safety of the system, and nothing failed in vain.

Globalization has created this interlocking fragility. At no time in the history of the universe has the cancellation of a Christmas order in New York meant layoffs in China.

Globalization has created this interlocking fragility. At no time in the history of the universe has the cancellation of a Christmas order in New York meant layoffs in China.

There are two types of people: those who try to win and those who try to win arguments. They are never the same. ---->>>

Banking is a very treacherous business because you don't realize it is risky until it is too late. It is like calm waters that deliver huge storms. ---->>>

Economics make homeopath and alternative healers look empirical and scientific. ---->>>

You will get the most attention from those who hate you. No friend, no admirer and no partner will flatter you with as much curiosity. ---->>>

Years ago, I noticed one thing about economics, and that is that economists didn't get anything right. ---->>>

A good maxim allows you to have the last word without even starting a conversation. ---->>>

We are victims of the post-Enlightenment view that the world functions like a sophisticated machine, to be understood like a textbook engineering problem and run by wonks. In other words, like a home appliance, not like the human body. ---->>>

You are rich if and only if money you refuse tastes better than money you accept. ---->>>

Poverty is clearly one source of emotional suffering, but there are others, like loneliness. ---->>>

Success is about honour, feeling morally calibrated, absence of shame, not what some newspaper defines from an external metric. ---->>>

For many people, commuting is the worst part of the day, and policies that can make commuting shorter and more convenient would be a straightforward way to reduce minor but widespread suffering. ---->>>

You have family-owned businesses that have been around for 500 years. You cannot name a corporation that survives intact for even a few decades. ---->>>

Never take advice from anyone in a tie. They'll bankrupt you. Don't ask a general for advice on war, and don't ask a broker for advice on money. ---->>>

The grandchildren should not bear the debts of the grandparents. ---->>>

When you ask people, 'What's the opposite of fragile?,' they tend to say robust, resilient, adaptable, solid, strong. That's not it. The opposite of fragile is something that gains from disorder. ---->>>

In social policy, when we provide a safety net, it should be designed to help people take more entrepreneurial risks, not to turn them into dependents. This doesn't mean that we should be callous to the underprivileged. ---->>>

Debt is a mistake between lender and borrower, and both should suffer. ---->>>

If you are in banking and lending, surprise outcomes are likely to be negative for you. ---->>>

Never think that lack of variability is stability. Don't confuse lack of volatility with stability, ever. ---->>>

Corporations take the humanity out of trade - they take the happiness out and replace it with something that is ugly. ---->>>

The key to wealth is that it doesn't matter. Once you've had it, you don't think anything of it; you can wear cheap watches. ---->>>

What we do today has nothing to do with capitalism or socialism. It is a crony type of system that transfers money to the coffers of bureaucrats. ---->>>

I no longer care about the financial system. I gave them my roadmap. OK? Thanks, bye. I've no idea what's going on. I'm disconnected. I'm totally disengaged. ---->>>

A country's assets reside in the tinkerers, the hobbyists, and the risk-takers. ---->>>

Capitalism has forced everyone to overoptimize in order to compete. ---->>>

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

I am happy everywhere except in places where I see glitz and rich farts. I am happiest in Brooklyn, where the concentration of rich farts is minimal. ---->>>

I'm a capitalist but one who is smallist and localist, and who favours businesses where owners are still in charge. ---->>>

In the United States, large corporations control some members of Congress. All this does is delay the corporation's funeral at our expense. ---->>>

The next time you experience a blackout, take some solace by looking at the sky. You will not recognize it.

The next time you experience a blackout, take some solace by looking at the sky. You will not recognize it.

The world we live in is vastly different from the world we think we live in. ---->>>

We humans lack imagination, to the point of not even knowing what tomorrow's important things will look like. ---->>>

When I trade, I don't have an agency problem; I have my neck on the line. When a bank or banker trades, it's not his neck on the line. ---->>>

We have this culture of financialization. People think they need to make money with their savings rather with their own business. So you end up with dentists who are more traders than dentists. A dentist should drill teeth and use whatever he does in the stock market for entertainment. ---->>>

Individuals should think about the worst-case scenarios and plan for them. The world will be crazier than you think it will be. Put money away, and then you can live with much more freedom. ---->>>

Nature builds things that are antifragile. In the case of evolution, nature uses disorder to grow stronger. Occasional starvation or going to the gym also makes you stronger, because you subject your body to stressors and gain from them. ---->>>

People have the problem of denial. This is one of the things I learned in Lebanon. Everybody who left Beirut when the war started, including my parents, said, 'Oh, its temporary.' It lasted 17 years! People tend to underestimate the gravity of these situations. That's how they work. ---->>>

I select a very small number of things to be sceptical about, such as markets, and on these I am hypersceptic. But I want to be fooled by randomness in art. I want the ceremonial of religion; we are made for it. ---->>>

If you take risks and face your fate with dignity, there is nothing you can do that makes you small; if you don't take risks, there is nothing you can do that makes you grand, nothing. ---->>>

The mortgage crisis is a clear instance of consumers who needed protection. There was predatory lending to people who didn't know what they were doing. ---->>>

I don't read the papers; I stopped reading the papers. I read the papers only during periods of crisis, and I think papers are too long on a regular day and too short days when we have a crisis. ---->>>

I'm in favour of religion as a tamer of arrogance. For a Greek Orthodox, the idea of God as creator outside the human is not God in God's terms. My God isn't the God of George Bush.

I'm in favour of religion as a tamer of arrogance. For a Greek Orthodox, the idea of God as creator outside the human is not God in God's terms. My God isn't the God of George Bush.

If I ask you to write down the last 4 digits of your social security number, and then take you out to lunch and ask you how many dentists there are in Manhattan, there's going to be a high correlation between those two numbers. What happens is that the number psychologically makes you feel confident. ---->>>

We know from chaos theory that even if you had a perfect model of the world, you'd need infinite precision in order to predict future events. With sociopolitical or economic phenomena, we don't have anything like that. ---->>>

The people I go after are the false experts, those who do not accept the limits of their knowledge.

The people I go after are the false experts, those who do not accept the limits of their knowledge.

Capitalism is about adventurers who get harmed by their mistakes, not people who harm others with their mistakes. ---->>>

Deficits are like putting dynamite in the hands of children. They can get out of control very quickly. ---->>>

The best philosophers were not academics, but had another job, so their philosophy was not corrupted by careerism. ---->>>

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

All of technology, really, is about maximizing free options. ---->>>

Democracies can't handle austerity measures very well. ---->>>

I don't go to the doctor except when I'm very ill, and when I go to India, I drink a drop of local water. ---->>>

I drive a hybrid, moving into an electric car. I only drink tap water, never consume food that's travelled. ---->>>

I have never had personal debt and never will. ---->>>

Inequalities of wealth lead to a dispersion in wealth for all. ---->>>

Paul Krugman is a danger to society! ---->>>

People employed in financial institutions are rarely interesting and even more rarely likable. ---->>>

The American people will eventually get hurt by this accumulated deficit. That's the problem. We have too much deficit. We have to find a solution. ---->>>

The track record of economists in predicting events is monstrously bad. It is beyond simplification; it is like medieval medicine. ---->>>

We should ban banks from risk-taking because society is going to pay the price. ---->>>

What America does best is produce the ability to accept failure. ---->>>

You know, children philosophize more than adults - and they are critical of adults. ---->>>

I'm a private intellectual, not a public one. ---->>>

When you write, you don't have the social constraints of having people in front of you, so you talk about abstract matters. ---->>>

I've been telling anyone willing to listen that banks have a tendency to sit on time bombs while convincing themselves that they are conservative and nonvolatile. ---->>>

If you are an Arabic-speaking, Greek-Orthodox going to a French school it makes you deeply sceptical if you have to listen to three different accounts of the Crusades - one from the Muslim side, one from the Greek side and one from the Catholic side. ---->>>

The Internet allows the small guy a global marketplace. But technology is harmful in the sense that we get too much information from it. Because of the web we get 10 times the amount of noise we ever got, which makes harmful fallacies far more likely. ---->>>

Bailing out every bank that fails makes the system riskier, not safer. ---->>>

Being an economist is the least ethical profession, closer to charlatanism than any science. ---->>>

Governments that try to shoot for a surplus hardly ever reach it. ---->>>

I lift heavy weights and sprint, but I am so bad at it that I develop severe injuries. ---->>>

It might be useful to be able to predict war. But tension does not necessarily lead to war, but often to peace and to denouement. ---->>>

Nobody reads the disclosures that roll down your computer screen. You click 'I agree' but you don't know what you're agreeing to. ---->>>

I don't know anyone on Wall Street who goes to work every day thinking of anything but how to increase their bonus. ---->>>

Most so-called writers keep writing and writing with the hope, some day, to find something to say. ---->>>

What we need to do is break the financial community's grip on society. ---->>>

Writing is sacred, other activities are profane, and I don't want them to corrupt my writing. ---->>>

Biography

Nationality: Lebanese
Born: 06-21, 1960
Birthplace:
Die:
Occupation: Scientist
Website:

Nassim Nicholas Taleb (Arabic: نسيم نقولا طالب‎‎, alternatively Nessim or Nissim, born 1960) is a Lebanese-American essayist, scholar, statistician, former trader, and risk analyst, whose work focuses on problems of randomness, probability, and uncertainty. His 2007 book The Black Swan was described in a review by The Sunday Times as one of the twelve most influential books since World War II (wikipedia)