Money and Finance
- Nassim Taleb Quote
"Someone with a linear payoff needs to be right more than 50 percent of the time. Someone with a convex payoff, much less. The hidden benefit of antifragility is that you can guess worse than random and still end up outperforming. Here lies the power...
- Nassim Taleb On Being An Autodidact
From Antifragile:My idea was to be rigorous in the open market. This made me focus on what an intelligent antistudent needed to be: an autodidact—or a person of knowledge compared to the students called “swallowers” in Lebanese dialect, those who...
- Notes From Tim Harford's Book "adapt"
Via Farnam Street: Biologists have a word for the way in which solutions emerge from failure: evolution. ... Disconcertingly, given our instinctive belief that complex problems require expertly designed solutions, it is completely unplanned. Astounding...
- Tim Harford On Learning From Failure
Link to video: Trial, error, success ……………….. Book: Adapt Related previous posts: In praise of pragmatism - By Tim Harford Tim Harford on EconTalk ...
- Jury Duty Today
I'll be doing my civic duty today and hopefully will get released early and not get stuck there all day or selected for some major trial. I also got a call yesterday talking about sending me back out for work again. It'll be good to get back out...
Money and Finance
Nassim Taleb quote
“Trial and error has one overriding value people fail to understand: it is not really random, rather, thanks to optionality, it requires some rationality. One needs to be intelligent in recognizing the favorable outcome and knowing what to discard.
And one needs to be rational in not making trial and error completely random. If you are looking for your misplaced wallet in your living room, in a trial and error mode, you exercise rationality by not looking in the same place twice. In many pursuits, every trial, every failure provides additional information, each more valuable than the previous one—if you know what does not work, or where the wallet is not located. With every trial one gets closer to something, assuming an environment in which one knows exactly what one is looking for. We can, from the trial that fails to deliver, figure out progressively where to go.”
-Nassim Taleb, Antifragile
- Nassim Taleb Quote
"Someone with a linear payoff needs to be right more than 50 percent of the time. Someone with a convex payoff, much less. The hidden benefit of antifragility is that you can guess worse than random and still end up outperforming. Here lies the power...
- Nassim Taleb On Being An Autodidact
From Antifragile:My idea was to be rigorous in the open market. This made me focus on what an intelligent antistudent needed to be: an autodidact—or a person of knowledge compared to the students called “swallowers” in Lebanese dialect, those who...
- Notes From Tim Harford's Book "adapt"
Via Farnam Street: Biologists have a word for the way in which solutions emerge from failure: evolution. ... Disconcertingly, given our instinctive belief that complex problems require expertly designed solutions, it is completely unplanned. Astounding...
- Tim Harford On Learning From Failure
Link to video: Trial, error, success ……………….. Book: Adapt Related previous posts: In praise of pragmatism - By Tim Harford Tim Harford on EconTalk ...
- Jury Duty Today
I'll be doing my civic duty today and hopefully will get released early and not get stuck there all day or selected for some major trial. I also got a call yesterday talking about sending me back out for work again. It'll be good to get back out...