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" "The left holds that because markets are stupid models should be smart; the right believes that because models are stupid markets should be smart. Alas, it never hit both sides that both markets and models are very stupid.
Nassim Nicholas Taleb (born 1 January 1960 in Amioun, Lebanon) is an essayist, epistemologist, researcher, and former practitioner of mathematical finance.
Biography information from Wikiquote
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Silver Rule in intellectual debates. You can criticize either what a person said or what a person meant. The former is more sensational, hence lends itself more readily to dissemination. The mark of a charlatan — say the writer and pseudo-rationalist Sam Harris — is to defend his position or attack a critic by focusing on some specific statement (“look at what he said”) rather than blasting his exact position (“look at what he means” or, more broadly, “look at what he stands for”) — for the latter requires an extensive grasp of the proposed idea. Note that the same applies to the interpretation of religious texts, often extracted from their broader circumstances.
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