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" Individuals should think about the worst-case scenarios and plan for them. The world will be crazier than you think it will be. Put money away, and then you can live with much more freedom. "
Nassim Nicholas Taleb
World
Money
Live
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" The key to wealth is that it doesn't matter. Once you've had it, you don't think anything of it; you can wear cheap watches. "
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" I select a very small number of things to be sceptical about, such as markets, and on these I am hypersceptic. But I want to be fooled by randomness in art. I want the ceremonial of religion; we are made for it. "
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" Alan Greenspan is unskilled; you don't take the unskilled seriously. "
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" When you write, you don't have the social constraints of having people in front of you, so you talk about abstract matters. "
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" 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. "
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" We know from chaos theory that even if you had a perfect model of the world, you'd need infinite precision in order to predict future events. With sociopolitical or economic phenomena, we don't have anything like that. "
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" 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. "
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" 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. "
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" The next time you experience a blackout, take some solace by looking at the sky. You will not recognize it. "
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" I have never had personal debt and never will. "
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" 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. "
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" 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. "
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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. "
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" People employed in financial institutions are rarely interesting and even more rarely likable. "
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" You have family-owned businesses that have been around for 500 years. You cannot name a corporation that survives intact for even a few decades. "
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" What America does best is produce the ability to accept failure. "
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" I hated school because I liked to daydream and the system tried to stop me from that. "
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" I am happy everywhere except in places where I see glitz and rich farts. I am happiest in Brooklyn, where the concentration of rich farts is minimal. "
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" Steve Jobs, Bill Gates and Mark Zuckerberg didn't finish college. Too much emphasis is placed on formal education - I told my children not to worry about their grades but to enjoy learning. "
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" I'm a private intellectual, not a public one. "
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" In social policy, when we provide a safety net, it should be designed to help people take more entrepreneurial risks, not to turn them into dependents. This doesn't mean that we should be callous to the underprivileged. "
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