Quote #6
I always remind myself that what one observes is at best a combination of variance and returns, not just returns.
More from Nassim Nicholas Taleb
- A mistake is not something to be determined after the fact, but in the light of the information until that point.
- I try to make money infrequently, as infrequently as possible simply because I believe that rare events are not fairly valued, and that the…
- [U]nlike a well-defined, precise game like Russian roulette, where the risks are visible to anyone capable of multiplying and dividing by s…
- The more data we have, the more likely we are to drown in it.
- [I]t does not matter how frequently something succeeds if failure is too costly to bear.
- At no point during his ordeal did Nero think of himself as 72% alive and 28% dead.
- You may not be able to change the world but can at least get some entertainment & make a living out of the epistemic arrogance of the human…
- Science evolves from funeral to funeral.