Good quotes form Nassim Taleb's Anti-fragile:
If you see fraud and do not say fraud, you are a fraud
George Santayana - A man is morally free when ...he judges the world and judges other men with uncompromising sincerity
stoic
sage - someone who transforms fear into prudence, pain into
information, mistakes in intuition, and desire into undertaking
1. Never get in a plane if the pilot is not on board. and 2. Make sure there is a co-pilot
I want predictors to have visible scars on their body from precision errors, not distribute these errors to society.
Never
ask anyone for their opinion, forecast, or recommendation.Just ask them
what they have - or don't have in their portfolio
Suckers try to win arguments, non-suckers try to win.
Do not cross a river if it is on average four feet deep.
Philosophers talk about truth and falsehood, people talk about payoff, exposure, and consequences (risk and rewards)
Other key thoughts
The road to trading ruin. Traders
trade - figure out techniques to gain - academics find formulas to
explain traders - new traders follow academics - blowups
Always look for convex payoff.
Remember the turkey problem. Life is good until Thanksgiving.
What is important is relevant knowledge.
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