Quote #14

A casino is the only human venture I know where the probabilities are known.

More from Nassim Nicholas Taleb

  1. Consider that the turkey's experience may have, rather than no value, a negative value. It learned from observation, as we are all advised …
  2. Probability is a liberal art.
  3. We favor the visible, the embedded, the personal, the narrated, and the tangible; we scorn the abstract.
  4. Forecasting by bureacrats tends to be used for anxiety relief rather than for adequate policy making.
  5. Probability is not about the odds, but about the belief in the existence of an alternative outcome, cause, or motive.
  6. [T]he same past data can confirm a theory and its exact opposite! If you survive until tomorrow, it could mean that either a) you are more …
  7. Science evolves from funeral to funeral.
  8. In practice, randomness is fundamentally incomplete information.

All Nassim Nicholas Taleb quotes