It is impossible for our brain to see anything in raw form without some interpretation. We may not even always be conscious of it.
He tends to mistake the unknown for the nonexistent.
Gene plays a role, are quite tractable, but anything entailing higher dimensionality falls apart. Understanding the genetic makeup of a unit will never allow us to understand the behavior of the unit...
For Mother Nature, opinions and predictions don’t count; surviving is what matters.
Equable
Domain-specific I mean that our reactions, our mode of thinking, our intuitions, depend on the context in which the matter is presented, what
Certain professionals, while believing they are experts, are in fact not. Based on their empirical record, they do not know more about their subject matter than the general population, but they are mu...
Awareness of a problem does not mean much—particularly when you have special interests and self-serving institutions in play.
At any point in time, the richest traders are often the worst traders. This, I will call the cross-sectional problem: At a given time in the market, the most successful traders are likely to be those...
Anything locked into planning tends to fail precisely because of these attributes—it is quite a myth that planning helps corporations: in fact we saw that the world is too random and unpredictable to...
An erudite can be dissatisfied with his own knowledge, and such dissatisfaction is a wonderful shield against Platonicity, the
An ad hominen attack against an intellectual, not against an idea, is highly flattering. It indicates that the person does not have anything intelligent to say about your message.
After the event you start predicting the possibility of other outliers happening locally, that is, in the process you were just surprised by, but not elsewhere. After
Absence of fluctuations in the market causes hidden risks to accumulate with impunity. The longer one goes without a market trauma, the worse the damage when commotion occurs.
You will never fully convince
You stand above the rat race and the pecking order, not outside of it, if you do so by choice.
You may prefer apples to oranges, oranges to pears, but pears to apples—it depends on how the choices are presented to you.
You can tell how uninteresting a person is by asking him whom he finds interesting.
Yet they believe blindly in the stock market, and in the abilities of their pension plan manager. Why do they do so? Because they accept that this is what people should do with their savings, because...
With few exceptions, those who dress outrageously are robust or even antifragile in reputation; those clean-shaven types who dress in suits and ties are fragile to information about them.