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" Most people are sceptical about the wrong things and gullible about the wrong things. "
Nassim Nicholas Taleb
Most
Gullible
Wrong
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" Poverty is clearly one source of emotional suffering, but there are others, like loneliness. "
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" Corporations take the humanity out of trade - they take the happiness out and replace it with something that is ugly. "
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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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" We should ban banks from risk-taking because society is going to pay the price. "
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" The track record of economists in predicting events is monstrously bad. It is beyond simplification; it is like medieval medicine. "
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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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" 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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" When I trade, I don't have an agency problem; I have my neck on the line. When a bank or banker trades, it's not his neck on the line. "
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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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" I lift heavy weights and sprint, but I am so bad at it that I develop severe injuries. "
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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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" 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. "
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" 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. "
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" The mortgage crisis is a clear instance of consumers who needed protection. There was predatory lending to people who didn't know what they were doing. "
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" A good maxim allows you to have the last word without even starting a conversation. "
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" Nobody reads the disclosures that roll down your computer screen. You click 'I agree' but you don't know what you're agreeing to. "
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" Bailing out every bank that fails makes the system riskier, not safer. "
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" People employed in financial institutions are rarely interesting and even more rarely likable. "
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" Failure saves lives. In the airline industry, every time a plane crashes the probability of the next crash is lowered by that. The Titanic saved lives because we're building bigger and bigger ships. So these people died, but we have effectively improved the safety of the system, and nothing failed in vain. "
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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. "
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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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