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Nassim Nicholas Taleb

Nassim Nicholas Taleb spent 21 years as a risk taker (quantitative trader) before becoming a flaneur and researcher in philosophical, mathematical and (mostly) practical problems with probability. 


Taleb is the author of a multivolume essay, the Incerto (The Black Swan, Fooled by Randomness, Antifragile, and Skin in the Game) an investigation of opacity, luck, uncertainty, probability, human error, risk, and decision making when we don’t understand the world, expressed in the form of a personal essay with autobiographical sections, stories, parables, and philosophical, historical, and scientic discussions in nonover lapping volumes that can be accessed in any order.

In addition to his trader life, Taleb has also written, as a backup of the Incerto, more than 50 scholarly papers in statistical physics, statistics, philosophy, ethics, economics, international affairs, and quantitative finance, all around the notion of risk and probability.

Taleb is currently Distinguished Professor of Risk Engineering at NYU's Tandon School of Engineering (only a quarter time position). His current focus is on the properties of systems that can handle disorder ("antifragile").

Taleb believes that prizes, honorary degrees, awards, and ceremonialism debase knowledge by turning it into a spectator sport.

See Wikipedia for more details.


“We favor the visible, the embedded, the personal, the narrated, and the tangible; we scorn the abstract.”
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“The three most harmful addictions are heroin, carbohydrates, and a monthly salary.”
Nassim Nicholas Taleb
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“The curious mind embraces science; the gifted and sensitive, the arts; the practical, business; the leftover becomes an economist”
Nassim Nicholas Taleb
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“Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises with debt spending”
Nassim Nicholas Taleb
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“Love without sacrifice is like theft”
Nassim Nicholas Taleb
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“Half of the people lie with their lips; the other half with their tears”
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“What organized dating sites fail to understand is that the people are far more interesting in what they don't say about themselves.”
Nassim Nicholas Taleb
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“The classical man's worst fear was inglorious death; the modern man's worst fear is just death”
Nassim Nicholas Taleb
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“In the past, only some of the males, but all of the females, were able to procreate. Equality is more natural for females.”
Nassim Nicholas Taleb
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“In poor countries, officials receive explicit bribes; in D.C. they get the sophisticated, implicit, unspoken promise to work for large corporations”
Nassim Nicholas Taleb
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“A prophet is not someone with special visions, just someone blind to most of what others see”
Nassim Nicholas Taleb
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“The four most influential moderns: Darwin, Marx, Freud, and (the productive) Einstein were scholars but not academics. It has always been hard to do genuine - and no perishable - work within institutions”
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“The imagination of the genius vastly surpasses his intellect; the intellect of the academic vastly surpasses his imagination”
Nassim Nicholas Taleb
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“They think that intelligence is about noticing things are relevant (detecting patterns); in a complex world, intelligence consists in ignoring things that are irrelevant (avoiding false patterns)”
Nassim Nicholas Taleb
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“The problem of knowledge is that there are many more books on birds written by ornithologists than books on birds written by birds and books on ornithologists written by birds”
Nassim Nicholas Taleb
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“true humility is when you can surprise yourself more than others; the rest is either shyness or good marketing”
Nassim Nicholas Taleb
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“Meditation is a way to be narcissistic without hurting anyone”
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“My biggest problem with modernity may lie in the growing separation of the ethical and the legal”
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“Just as no monkey is as good-looking as the ugliest of humans, no academic is worthier than the worst of the creators”
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“. . . the world in which we live has an increasing number of feedback loops, causing events to be the cause of more events (say, people buy a book because other people bought it), thus generating snowballs and arbitrary and unpredictable planet-wide winner-take-all effects.”
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“Luck is the grand equalizer.”
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“Most info-Web-media-newspaper types have a hard time swallowing the idea that knowledge is reached (mostly) by removing junk from peoples heads”
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“What I learned on my own I still remember”
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“The fool generalizes the particular; the nerd particularizes the general; some do both; and the wise does neither”
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“Every social association that is not face-to-face is injurious to your health”
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“The difference between technology and slavery is that slaves are fully aware that they are not free”
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“Charm is the ability to insult people without offending them; nerdiness the reverse”
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“People focus on role models; it is more effective to find antimodels - people you don't want to resemble when you grow up”
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“Modernity: we created youth without heroism, age without wisdom, and life without grandeur”
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“When you beat up someone physically, you get excercise and stress relief; when you assault him verbally on the Internet, you just harm yourself.”
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“Academia is to knowledge what prostitution is to love; close enough on the surface but, to the nonsucker, not exactly the same thing”
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“They will envy you for your success, your wealth, for your intelligence, for your looks, for your status - but rarely for your wisdom.”
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“By all means, avoid words—threats, complaints, justification, narratives, reframing, attempts to win arguments, supplications; avoid words!”
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“Bir treni kaçırmak ancak peşinden koşarsanız acı verici olur.”
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“The biologist and intellectual E. O. Wilson was once asked what represented the most hindrance to the development of children; his answer was the soccer mom. He did not use the notion of the Procrustean bed, but he outlined it perfectly. His argument is that they repress children's natural biophilia, their love of living things. But the problem is more general; soccer moms try to eliminate the trial and error, the antifragility, from children's lives, move them away from the ecological and transform them into nerds working on preexisting (soccer-mom-compatible) maps of reality. Good students, but nerds--that is, they are like computers except slower. Further, they are now totally untrained to handle ambiguity. As a child of civil war, I disbelieve in structured learning . . . . Provided we have the right type of rigor, we need randomness, mess, adventures, uncertainty, self-discovery, near-traumatic episodes, all those things that make life worth living, compared to the structured, fake, and ineffective life of an empty-suit CEO with a preset schedule and an alarm clock.”
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“Some can be more intelligent than others in a structured environment—in fact school has a selection bias as it favors those quicker in such an environment, and like anything competitive, at the expense of performance outside it. Although I was not yet familiar with gyms, my idea of knowledge was as follows. People who build their strength using these modern expensive gym machines can lift extremely large weights, show great numbers and develop impressive-looking muscles, but fail to lift a stone; they get completely hammered in a street fight by someone trained in more disorderly settings. Their strength is extremely domain-specific and their domain doesn't exist outside of ludic—extremely organized—constructs. In fact their strength, as with over-specialized athletes, is the result of a deformity. I thought it was the same with people who were selected for trying to get high grades in a small number of subjects rather than follow their curiosity: try taking them slightly away from what they studied and watch their decomposition, loss of confidence, and denial. (Just like corporate executives are selected for their ability to put up with the boredom of meetings, many of these people were selected for their ability to concentrate on boring material.) I've debated many economists who claim to specialize in risk and probability: when one takes them slightly outside their narrow focus, but within the discipline of probability, they fall apart, with the disconsolate face of a gym rat in front of a gangster hit man.”
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“If you have more than one reason to do something (choose a doctor or veterinarian, hire a gardener or an employee, marry a person, go on a trip), just don’t do it. It does not mean that one reason is better than two, just that by invoking more than one reason you are trying to convince yourself to do something. Obvious decisions (robust to error) require no more than a single reason.”
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“Few understand that procrastination is our natural defense, letting things take care of themselves and exercise their antifragility; it results from some ecological or naturalistic wisdom, and is not always bad -- at an existential level, it is my body rebelling against its entrapment. It is my soul fighting the Procrustean bed of modernity.”
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“I've debated many economists who claim to specialize in risk and probability: when one takes them slightly outside their narrow focus, but within the discipline of probability, they fall apart, with the disconsolate face of a gym rat in front of a gangster hit man.”
Nassim Nicholas Taleb
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“If there is something in nature you don't understand, odds are it makes sense in a deeper way that is beyond your understanding. So there is a logic to natural things that is much superior to our own. Just as there is a dichotomy in law: 'innocent until proven guilty' as opposed to 'guilty until proven innocent', let me express my rule as follows: what Mother Nature does is rigorous until proven otherwise; what humans and science do is flawed until proven otherwise.”
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“Further, in writing, I feel corrupt and unethical if I have to look up a subject in a library as part of the writing itself. This acts as a filter--it is the only filter. If the subject is not interesting enough for me to look it up independently, for my own curiosity or purposes, and I have not done so before, then I should not be writing about it at all, period. It does not mean that libraries (physical and virtual) are not acceptable; it means that they should not be the source of any idea.”
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“The psychologist Gerd Gigerenzer has a simple heuristic. Never ask the doctor what you should do. Ask him what he would do if he were in your place. You would be surprised at the difference”
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“Bullish or bearish are terms used by people who do not engage in practicing uncertainty, like the television commentators, or those who have no experience in handling risk. Alas, investors and businesses are not paid in probabilities; they are paid in dollars. Accordingly, it is not how likely an event is to happen that matters, it is how much is made when it happens that should be the consideration.”
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“There is asymmetry. Those who die do so very early in the game, while those who live go on living very long. Whenever there is asymmetry in outcomes, the average survival has nothing to do with the median survival.”
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“There are some people who, if they don't already know, you can't tell them.As the great philosopher of uncertainty Yogi berra once said, "Don't waste your time trying to fight forecasters, stock analysts, economists and social scientists, except to play pranks on them.”
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“Seize any opportunity or anything that looks like opportunity.”
Nassim Nicholas Taleb
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“Don't look for the precise and local. Simply; do not be narrow minded.”
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“Prediction requires knowing about technologies that will be discovered in the future, but that very knowledge would almost automatically allow us to start developing those technologies right away. Ergo we do not know what we will know.”
Nassim Nicholas Taleb
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“Being an executive doesn't require very developed frontal lobes, but rather a combination of charisma, a capacity to sustain boredom, and the ability to shallowly perform on harrowing schedules.”
Nassim Nicholas Taleb
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“Black Swan has three attributes: unpredictability, consequences, retrospective explainability.”
Nassim Nicholas Taleb
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