Nassim Nicholas Taleb

"We see the winners and try to "learn" from them, while forgetting the huge number of losers." Nassim Nicholas Taleb


"Human beings tend to view the world as more explainable than it really is. So they look for explanations even when there are none." Nassim Nicholas Taleb


"We almost always ignore the fact that, for one success story, there are many failures. But we seldom hear about the failures (just like we never hear about the many theories that didn't fit the data). So it's all a game of numbers: out of 10,000 traders, a few are statistically bound to be successful, even if they are nothing more than lucky idiots. The fact that they succeeded does not mean anything. It doesn't mean that they are bad traders, but it doesn't mean that they are good traders either, because on average somebody had to succeed." - Nassim Nicholas Taleb