NASSIM TALEB ~ FOOLED BY RANDOMNESS

~ TREF ~ The Rare-Event Fallacy

~ TCSOCBTROOHFFTDOTIWCSA ~ This Conclusion Set Off Calls By The Religious Orders Of High Finance For The Destruction Of The Infidel Who Committed Such Apostasy

~ IDNMHFSS-IFITCTB ~ It Does Not Matter How Frequently Something Succeeds – If Failure Is Too Costly To Bear

~ YCDCUTWOE-ANCCYSTINSTAACE ~ You Can Disguise Charlatanism Under The Weight Of Equations – And Nobody Can Catch You Since There Is No Such Thing As A Controlled Experiment

~ TPO‘FE’CAWMDOP ~ The Practice Of “Financial Engineering” Came Along With Massive Doses Of Pseudoscience

~ LAEIOBSABOUALOR ~ Lumping All Economics In One Basket Shows A Bit Of Unfairness And Lack Of Rigor

~ TAOEHTUARE ~ The Attitude Of Epic Heroism That Usually Accompanies Rapid Enrichment

~ ATTDNPASOCUWIWBCW-WBTC ~ A Theory That Does Not Present A Set Of Conditions Under Which It Would Be Considered Wrong – Would Be Termed Charlatanism

~ AOSIOIWNPTIHTE-TWACITE ~ An Open Society Is One In Which No Permanent Truth Is Held To Exist – This Would Allow Counter-Ideas To Emerge

~ TMDWH-TMLWATDII ~ The More Data We Have – The More Likely We Are To Drown In It

~ ASKOPCLTWRTNKAA ~ A Small Knowledge Of Probability Can Lead To Worse Results Than No Knowledge At All

~ AOSOTW-IINFTWFTVC-AOSTSAOTS-WISAMPOTD ~ As One Sees Only The Winners – It Is Natural For Those Who Failed To Vanish Completely – Accordingly, One See The Survivors, And Only The Survivors – Which Imparts Such A Mistaken Perception Of The Odds

~ TMMND ~ Too Many Millionaires Next Door

~ TVOCITSCTAOPGRTTB-BTINNTIA-ESGAAM(OI)A ~ The Virtue Of Capitalism Is That Society Can Take Advantage Of People’s Greed Rather Than Their Benevolence – But There Is No Need To, In Addition – Extol Such Greed As A Moral (Or Intellectual) Accomplishment

~ YRRDNLR ~ Yet Real Randomness Does Not Look Random

~ TMBGIITFTNTP ~ There May Be Great Information In The Fact That Nothing Took Place

~ BTPB ~ Beware The Philosopher Bureaucrat

~ OCMADWE ~ One Cannot Make A Decision Without Emotion

~ WFE(LB)-TFAE(N) ~ We Feel Emotions (Limbic Brain) – Then Find An Explanation (Neocortex)

~ SP‘M’R-PITAPFI ~ Somehow People “Measure” Risks – Particularly If They Are Paid For It

~ NMPIE-NEANP-IWNITWOTFM ~ Nobel Memorial Prize In Economics – Not Even A Nobel Prize – It Was Never In The Will Of The Famous Man

~ PCSAS-SIG-B-ISAD ~ People Confuse Science And Scientists – Science Is Great – But – Individual Scientists Are Dangerous

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