What fools call "wasting time" is most often the best investment. Nassim Nicholas Taleb More Quotes by Nassim Nicholas Taleb More Quotes From Nassim Nicholas Taleb The rationalist imagines an imbecile-free society; the empiricist and imbecile-proof one, or even better, a rationalist-proof one. Nassim Nicholas Taleb imbeciles imagine atheist A verbal threat is the most authentic certificate of impotence. Nassim Nicholas Taleb certificates impotence threat Banks have never made money in the history of banking, losing the equivalent of all their past profits periodically - while bankers strike it rich. Nassim Nicholas Taleb banking past bankers Deficits are like putting dynamite in the hands of children. They can get out of control very quickly. Nassim Nicholas Taleb deficit children hands People who forecast simply because "that's my job," knowing pretty well that their forecast is ineffectual, are not what I would call ethical. What they do is no different from repeating lies simply because "it's my job." Nassim Nicholas Taleb knowing jobs lying Writing is the art of repeating oneself without anyone noticing. Nassim Nicholas Taleb oneself writing art Another definition of modernity: conversations can be more and more completely reconstructed with clips from other conversations taking place at the same time on the planet. Nassim Nicholas Taleb planets definitions conversation A good rule of thumb is as follows: If the numbers come from somebody wearing a tie (Wall Street economist or analyst, industry public relations department, captive think tank academic and so on), you ought to be very skeptical. By design messages from these people are intended to move markets, move merchandise and/or move public policy and are not a comment on the state of the physical universe. Nassim Nicholas Taleb wall moving thinking Being an economist is the least ethical profession, closer to charlatanism than any science. Nassim Nicholas Taleb economist profession ethical 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. Nassim Nicholas Taleb socialism type today Financial institutions have been merging into a smaller number of very large banks. Almost all banks are interrelated. So the financial ecology is swelling into gigantic, incestuous, bureaucratic banks-when one fails, they all fall. We have moved from a diversified ecology of small banks, with varied lending policies, to a more homogeneous framework of firms that all resemble one another. True, we now have fewer failures, but when they occur... I shiver at the thought. Nassim Nicholas Taleb financial numbers fall I don't know anyone on Wall Street who goes to work every day thinking of anything but how to increase their bonus. Nassim Nicholas Taleb bonus wall thinking I drive a hybrid, moving into an electric car. I only drink tap water, never consume food that's travelled. Nassim Nicholas Taleb car water moving Charm is the ability to insult people without offending them; nerdiness the reverse Nassim Nicholas Taleb offending nerd people Please, don’t drive a school bus blindfolded. Nassim Nicholas Taleb bus please school 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. Nassim Nicholas Taleb too-much hurt people Education makes the wise slightly wiser, but it makes the fool vastly more dangerous. Nassim Nicholas Taleb fool dangerous wise It is also naïve empiricism to provide, in support of some argument, series of eloquent confirmatory quotes by dead authorities. By searching, you can always find someone who made a well-sounding statement that confirms your point of view and, on every topic, it is possible to find another dead thinker who said the exact opposite. Nassim Nicholas Taleb support views opposites 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. Nassim Nicholas Taleb ties advice war Randomness works well in search sometimes better than humans. Nassim Nicholas Taleb randomness wells sometimes
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