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Nassim Nicholas Taleb – interesting guy

Saturday, May 15th, 2010

Been reading some of his stuff, shary guy and interesting views of the world.

Some of his comments that came from an interview with The Times:

1 Scepticism is effortful and costly. It is better to be sceptical about matters of large consequences, and be imperfect, foolish and human in the small and the aesthetic.

2 Go to parties. You can’t even start to know what you may find on the envelope of serendipity. If you suffer from agoraphobia, send colleagues.

3 It’s not a good idea to take a forecast from someone wearing a tie. If possible, tease people who take themselves and their knowledge too seriously.

4 Wear your best for your execution and stand dignified. Your last recourse against randomness is how you act — if you can’t control outcomes, you can control the elegance of your behaviour. You will always have the last word.

5 Don’t disturb complicated systems that have been around for a very long time. We don’t understand their logic. Don’t pollute the planet. Leave it the way we found it, regardless of scientific ‘evidence’.

6 Learn to fail with pride — and do so fast and cleanly. Maximise trial and error — by mastering the error part.

7 Avoid losers. If you hear someone use the words ‘impossible’, ‘never’, ‘too difficult’ too often, drop him or her from your social network. Never take ‘no’ for an answer (conversely, take most ‘yeses’ as ‘most probably’).

8 Don’t read newspapers for the news (just for the gossip and, of course, profiles of authors). The best filter to know if the news matters is if you hear it in cafes, restaurants… or (again) parties.

9 Hard work will get you a professorship or a BMW. You need both work and luck for a Booker, a Nobel or a private jet.

10 Answer e-mails from junior people before more senior ones. Junior people have further to go and tend to remember who slighted them.

Doug enjoy

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4 Responses to “Nassim Nicholas Taleb – interesting guy”

  1. Tim said on May 18th, 2010 at 7:55 am

    Have you read his book, The Black Swan, would be interested to hear about that?

    Also the link to the Times Article:
    http://business.timesonline.co.uk/tol/business/economics/article4022091.ece

  2. Doug Scott said on May 18th, 2010 at 3:19 pm

    Some heavy going but the concepts are very simple and fairly obvious….worth getting for the fiver

    Doug

  3. Mark Hoult said on November 12th, 2010 at 5:19 pm

    Yes – he’s a pretty lateral thinker.

    His stuff in the Black Swan about conventional risk management being a waste of time because it doesn’t look for the rare catastrophic events (and opportunities) is pretty fitting given the hedge fund and bond market disasters of the last couple of years.

  4. jezza101 said on April 19th, 2011 at 10:35 am

    One could also argue that said disasters were the culmination of smaller risks bundled up and passed around. And in fact we can see that those who were well prepared came through the mess with healthy profits as usual.

    But whatever, a nice list of “truisms” :-)

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