Money and Finance
- Harari On Hindsight...
From Sapiens: A Brief History of Humankind: "...the better you know a particular historical period, the harder it becomes to explain why things happened one way and not another…In fact, the people who knew the period best – those alive at the...
- Nassim Taleb Quote
"So the central tenet of the epistemology I advocate is as follows: we know a lot more what is wrong than what is right, or, phrased according to the fragile/robust classification, negative knowledge (what is wrong, what does not work) is more robust...
- Michael Burry's 2008 1st Quarter Letter
Thanks to Dang for reminding me about these letters being online, which prompted me to go back and read this one, which is full of great insights. Earlier this month, I took my family on our first extended vacation far away from California, and we ran...
- Nassim Taleb Quote
“Don’t look for the precise and the local. Simply, do not be narrow-minded. The great discoverer Pasteur, who came up with the notion that chance favors the prepared, understood that you do not look for something particular every morning but work...
- Nassim Taleb On Living With Black Swans
Thanks to Steve F. for passing this along. Nassim Taleb is a literary essayist, hedge fund manager, derivatives trader and professor of risk engineering at The Polytechnic Institute of New York University. But he is best known these days as the author...
Money and Finance
Complimentary Quotes from Nassim Taleb and Howard Marks
“The Black Swans we imagine, discuss, and worry about do not resemble those likely to be Black Swans. We worry about the wrong “improbable” events……We like to think about specific and known Black Swans when in fact the very nature of randomness lies in its abstraction.” –Nassim Taleb, The Black Swan
“A good decision can wisely anticipate the range of things that might happen, but the one thing that actually happens may not have been one of the ones that reasonably could have been considered highly likely – or even possible. Or it may just happen at a time other than when it “should” have. The bottom line is that investors are often “right for the wrong reason,” and vice versa.” –Howard Marks, “Assessing Performance Records – A Case Study”
- Harari On Hindsight...
From Sapiens: A Brief History of Humankind: "...the better you know a particular historical period, the harder it becomes to explain why things happened one way and not another…In fact, the people who knew the period best – those alive at the...
- Nassim Taleb Quote
"So the central tenet of the epistemology I advocate is as follows: we know a lot more what is wrong than what is right, or, phrased according to the fragile/robust classification, negative knowledge (what is wrong, what does not work) is more robust...
- Michael Burry's 2008 1st Quarter Letter
Thanks to Dang for reminding me about these letters being online, which prompted me to go back and read this one, which is full of great insights. Earlier this month, I took my family on our first extended vacation far away from California, and we ran...
- Nassim Taleb Quote
“Don’t look for the precise and the local. Simply, do not be narrow-minded. The great discoverer Pasteur, who came up with the notion that chance favors the prepared, understood that you do not look for something particular every morning but work...
- Nassim Taleb On Living With Black Swans
Thanks to Steve F. for passing this along. Nassim Taleb is a literary essayist, hedge fund manager, derivatives trader and professor of risk engineering at The Polytechnic Institute of New York University. But he is best known these days as the author...