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" 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. "
Nassim Nicholas Taleb
Calm
Late
Business
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" Bailing out every bank that fails makes the system riskier, not safer. "
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" All of technology, really, is about maximizing free options. "
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Technology
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" 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. "
Nassim Nicholas Taleb
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" You know, children philosophize more than adults - and they are critical of adults. "
Nassim Nicholas Taleb
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" Paul Krugman is a danger to society! "
Nassim Nicholas Taleb
Paul
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" 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. "
Nassim Nicholas Taleb
Financial
Thanks
System
" 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. "
Nassim Nicholas Taleb
Fate
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You
" 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. "
Nassim Nicholas Taleb
Technology
Information
Small
" 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. "
Nassim Nicholas Taleb
People
Work
War
" 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
Money
Advice
You
" 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. "
Nassim Nicholas Taleb
Security
Feel
You
" 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. "
Nassim Nicholas Taleb
Able
War
Tension
" Capitalism has forced everyone to overoptimize in order to compete. "
Nassim Nicholas Taleb
Compete
Capitalism
Everyone
" What America does best is produce the ability to accept failure. "
Nassim Nicholas Taleb
Ability
Failure
Best
" 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
People
Problem
American
" The next time you experience a blackout, take some solace by looking at the sky. You will not recognize it. "
Nassim Nicholas Taleb
Looking
You
Time
" Capitalism is about adventurers who get harmed by their mistakes, not people who harm others with their mistakes. "
Nassim Nicholas Taleb
Capitalism
People
Others
" When you write, you don't have the social constraints of having people in front of you, so you talk about abstract matters. "
Nassim Nicholas Taleb
You
Matters
Talk
" I'm a capitalist but one who is smallist and localist, and who favours businesses where owners are still in charge. "
Nassim Nicholas Taleb
Who
Where
Still
" 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
Work
Day
Thinking
" 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. "
Nassim Nicholas Taleb
Curiosity
Friend
Hate
" Democracies can't handle austerity measures very well. "
Nassim Nicholas Taleb
Very
Austerity
Measures
" Most people are sceptical about the wrong things and gullible about the wrong things. "
Nassim Nicholas Taleb
Most
Gullible
Wrong
" Deficits are like putting dynamite in the hands of children. They can get out of control very quickly. "
Nassim Nicholas Taleb
Get
Out
Hands
" 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. "
Nassim Nicholas Taleb
Grow
Gym
Evolution
" 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. "
Nassim Nicholas Taleb
Listen
You
Three
" There are two types of people: those who try to win and those who try to win arguments. They are never the same. "
Nassim Nicholas Taleb
Two
People
Same
" I lift heavy weights and sprint, but I am so bad at it that I develop severe injuries. "
Nassim Nicholas Taleb
Heavy
I Am
Sprint
" Years ago, I noticed one thing about economics, and that is that economists didn't get anything right. "
Nassim Nicholas Taleb
Years
Right
Economics
" 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. "
Nassim Nicholas Taleb
World
Body
Home