My favorite "Black Swan" quotes
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Transcript of My favorite "Black Swan" quotes
My favorite Black Swanquotes
Images: www.sxc.hu – “The Black Swan” was written by N.N. Taleb
We tend to learn the precise, not the general…
We don’t learn
rules, just facts
The Platonic fold is the explosive boundary where the Platonic mindset enters in contact with the messy reality, where the gap between what you know and what you think you know becomes dangerously wide.
Ideas come and go – stories stay
Metaphors and stories are far more potent (alas) than ideas; they are easier to remember and more fun to read.
We tend to treat our knowledge as personal property to be protected and defended.
The minds of the gods can not be read by just watching their deeds.
Categorizing always produces reduction in true complexity
There is nothing interesting about the details of the business world, which is
inelegant, dull, pompous, greedy, unintellectual, selfish and boring
The great strength of the free-market system is the fact that company executives
don’t need to know what’s
Most [financial] traders are
“picking pennies in front of a steamroller”
exposing themselves to the high-impact rare event yet sleeping like babies,
unaware of it.
[Organize yourself] to do minimal but intense work, never attend business “meetings”, avoid the company of “achievers” and people in suits who don’t read books.
America is currently far more creative than these nations of museumgoers and
It is also far more tolerant of bottom-up tinkering and undirected trial and error.
Mediocristan is where we must endure the tyranny of the collective, the routine, the obvious and the predicted;
Extremistan is where we are subjected to the tyranny of
the singular, the accidently, the unseen and the unpredicted.
For their lending business,
banks hire dull people and train them to be even more dull.
We harbor a crippling dislike for the
The media seem to want to be
wrong with infinite
(instead of accepting being
A nerd is simply someone who
thinks exceedingly inside the box
When you are employed, hence dependent on other people’s judgment, looking busy can help you claim responsibility for the results in a random environment.
Additional knowledge of the minutiae of daily business can be useless, even actually toxic.
News shared with
millions has no added value
The problem with experts is that they do not know what they do not know.
It is often said that “is wise who can see things coming”
Perhaps the wise one is the one who knows
that he can not see things far away.
sleepwalkers stumbling upon results and not realizing what they have in their hands.
We build toys. Some of those toys change the world.
… a strange activity called the business meeting, in which well-fed, but sedentary, men voluntarily restrict their blood circulation with an expensive device called a necktie.
Don’t ask the barber whether you need a haircut…
and don’t ask an academic if what he does is relevant.
Maximize the serendipity around you
American culture encourages the process of failure, unlike the cultures of Europe and Asia where failure is met with stigma and embarrassment
The electricity blackout experienced in the States in 2003 is a perfect example of what could take place if one of the big banks went under today
In the last 50 years, the
ten most extreme days in the financial markets
half the returns
Worry less about embarrassment than about missing an opportunity