Here are some miscellaneous quotes from The Black Swan by Nassim Nicholas Taleb.
In statistics you are given the odds, but in real life, it's a different story. This seems so obvious to me that it hardly needs to be stated, but it is especially astute. Statistics don't translate directly to real life.
127 In real life you do not know the odds; you need to discover them, and the sources of uncertainty are not defined.
He brings in the concept of the unknown unknown.
128 Unknown uncertainty
And more:
149 What matters is not how often you are right, but how large your cumulative errors are.
154 I know that history is going to be dominated by an improbable event, I just don't know what that event will be.
I especially liked this one:
170 ...collect opportunities
There are others, but I've not transcribed them yet.
Do you have a favorite quote or section of this book?
Karin
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