Skin in the Game: Hidden Asymmetries in Daily Life by Nassim Nicholas Taleb.
Brilliant :-)
1. The minority rule produces low variance outcomes.
2. Never compare a multiplicative, systemic, and fat-tailed risk to a non-multiplicative, idiosyncratic, and thin-tailed one.
3. Courage is when you sacrifice your own well-being for the sake of the survival of a layer higher than yours.
4. How much you truly "believe" in something can be manifested only through what you are willing to risk for it.
5. There is no love without sacrifice, no power without fairness, no facts without rigor, no statistics without logic, no teaching without experience, no complication without depth, no science without skepticism, and nothing without skin in the game.
A great review here as well.
Brilliant :-)
1. The minority rule produces low variance outcomes.
2. Never compare a multiplicative, systemic, and fat-tailed risk to a non-multiplicative, idiosyncratic, and thin-tailed one.
3. Courage is when you sacrifice your own well-being for the sake of the survival of a layer higher than yours.
4. How much you truly "believe" in something can be manifested only through what you are willing to risk for it.
5. There is no love without sacrifice, no power without fairness, no facts without rigor, no statistics without logic, no teaching without experience, no complication without depth, no science without skepticism, and nothing without skin in the game.
A great review here as well.
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