782 Quotes by Nassim Nicholas Taleb

Never hire an academic unless his function is to partake of the rituals of writing papers or taking exams.

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.

One of the problems I face in life is that whenever I tell people that the Gaussian bell curve is not ubiquitous in real life, only in the minds of statisticians, they require me to “prove it”—which is easy to do, as we will see in the next two chapters, yet nobody has managed to prove the opposite

Convincing - and confident - disciplines, say, physics, tend to use little statistical backup, while political science and economics, which have never produced anything of note, are full of elaborate statistics and statistical “evidence” (and you know that once you remove the smoke, the evidence is not evidence).

Black Swans and tail events run the socioeconomic world

...avoidance of small mistakes makes the large ones more severe.

Those who were unlucky in life in spite of their skills would eventually rise. The lucky fool might have benefited from some luck in life; over the longer run he would slowly converge to the state of a less-lucky idiot. Each one would revert to his long-term properties.

It is always convenient to invoke universalism when you are in the majority.

As Yogi Berra said, “In theory there is no difference between theory and practice; in practice there is.