To teach someone a real skill, teach him how to take risk & fail. He will never learn this in school. No nonrisktaker can ever teach it. - Nassim Nicholas Taleb

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To teach someone a real skill, teach him how to take risk & fail. He will never learn this in school. No nonrisktaker can ever teach it.

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About Nassim Nicholas Taleb

Nassim Nicholas Taleb (born 1 January 1960 in Amioun, Lebanon) is an essayist, epistemologist, researcher, and former practitioner of mathematical finance.

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Alternative Names: Nassim Taleb
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Additional quotes by Nassim Nicholas Taleb

"HISTORY AND THE TRIPLET OF OPACITY
History is opaque. You see what comes out, not the script that produces events, the generator of history. There is a fundamental incompleteness in your grasp of such events, since you do not see what's inside the box, how the mechanisms work. What I call the generator of historical events is different from the events themselves, much as the minds of the gods cannot be read just by witnessing their deeds. You are very likely to be fooled about their intentions.
This disconnect is similar to the difference between the food you see on the table at the restaurant and the process you can observe in the kitchen. (The last time I brunched at a certain Chinese restaurant on Canal Street in downtown Manhattan, I saw a rat coming out of the kitchen.)
The human mind suffers from three ailments as it comes into contact with history, what I call the triplet of opacity. They are:
a. the illusion of understanding, or how everyone thinks he knows what is going on in a world that is more complicated (or random) than they realize;
b. the retrospective distortion, or how we can assess matters only after the fact, as if they were in a rearview mirror (history seems clearer and more organized in history books than in empirical reality);
and
c. the overvaluation of factual information and the handicap of authoritative and learned people, particularly when they create categories — when they "Platonify.

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Because what matters in life isn’t how frequently one is “right” about outcomes, but how much one makes when one is right. Being wrong, when it is not costly, doesn’t count — in a way that’s similar to trial-and-error mechanisms of research.

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