If I ask you to write down the last 4 digits of your social security number, and then take you out to lunch and ask you how many dentists there are in Manhattan, there's going to be a high correlation between those two numbers. What happens is that the number psychologically makes you feel confident.
From Nassim Nicholas Taleb
Inequalities of wealth lead to a dispersion in wealth for all.
The best philosophers were not academics, but had another job, so their philosophy was not corrupted by careerism.
I don't read the papers; I stopped reading the papers. I read the papers only during periods of crisis, and I think papers are too long on a regular day and too short days when we have a crisis.
Nature builds things that are antifragile. In the case of evolution, nature uses disorder to grow stronger. Occasional starvation or going to the gym also makes you stronger, because you subject your body to stressors and gain from them.
Corporations take the humanity out of trade - they take the happiness out and replace it with something that is ugly.
You have family-owned businesses that have been around for 500 years. You cannot name a corporation that survives intact for even a few decades.
Individuals should think about the worst-case scenarios and plan for them. The world will be crazier than you think it will be. Put money away, and then you can live with much more freedom.
Capitalism has forced everyone to overoptimize in order to compete.
Debt is a mistake between lender and borrower, and both should suffer.
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