Nassim N Taleb - Collected Quotes

"A mistake is not something to be determined after the fact, but in the light of the information until that point." (Nassim N Taleb, "Fooled by Randomness", 2001)

"Probability is not about the odds, but about the belief in the existence of an alternative outcome, cause, or motive." (Nassim N Taleb, "Fooled by Randomness", 2001)

"A Black Swan is a highly improbable event with three principal characteristics: It is unpredictable; it carries a massive impact; and, after the fact, we concoct an explanation that makes it appear less random, and more predictable, than it was. […] The Black Swan idea is based on the structure of randomness in empirical reality. [...] the Black Swan is what we leave out of simplification." (Nassim N Taleb, "The Black Swan" , 2007)

"Prediction, not narration, is the real test of our understanding of the world." (Nassim N Taleb, "The Black Swan", 2007)

"The inability to predict outliers implies the inability to predict the course of history.” (Nassim N Taleb, “The Black Swan”, 2007)

"While in theory randomness is an intrinsic property, in practice, randomness is incomplete information." (Nassim N Taleb, "The Black Swan", 2007)

"Complex systems are full of interdependencies - hard to detect - and nonlinear responses. […] Man-made complex systems tend to develop cascades and runaway chains of reactions that decrease, even eliminate, predictability and cause outsized events. So the modern world may be increasing in technological knowledge, but, paradoxically, it is making things a lot more unpredictable." (Nassim N Taleb, "Antifragile: Things that gain from disorder", 2012)

"Technology is the result of antifragility, exploited by risk-takers in the form of tinkering and trial and error, with nerd-driven design confined to the backstage." (Nassim N Taleb, "Antifragile: Things that gain from disorder", 2012)

"The higher the dimension, in other words, the higher the number of possible interactions, and the more disproportionally difficult it is to understand the macro from the micro, the general from the simple units. This disproportionate increase of computational demands is called the curse of dimensionality." (Nassim N Taleb, "Skin in the Game: Hidden Asymmetries in Daily Life", 2018)

"[…] whenever people make decisions after being supplied with the standard deviation number, they act as if it were the expected mean deviation." (Nassim N Taleb, "Statistical Consequences of Fat Tails: Real World Preasymptotics, Epistemology, and Applications" 2nd Ed., 2022)