Incerto 4-Book Bundle

I have curated the most important and deep parts of this book into the following quotes:- You don’t know yourself unless you have to make your own choices.- We don’t understand things when we have an edge. Only when we have the perspective of coming from behind.- If we win during bear markets you’ll be fine on bull markets.- Dispersion of outcomes ... See more

6 discussion topics on which David agrees with Taleb:(1) [p. 286] The sterilized randomness of games does not resemble randomness in real life; thinking it does constitutes the Ludic Fallacy (his neologism). This is exactly right, and mathematicians should pay attention. In my own list of 100 instances of chance in the real world, exactly 1 item is... See more

The important thing is not to sit down and imagine every possible scenario in the tail (by definition, it is impossible) but to deal with fat-tailed domains in the correct way: by positioning ourselves to survive or even benefit from the wildly unpredictable future, by being the only ones thinking correctly and planning for a world we don’t fully u

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