“I try to make money infrequently, as infrequently as possible simply because I believe that rare events are not fairly valued, and that the rarer the event, the more undervalued it will be in price.”

Fooled by Randomness (2001)

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Nassim Nicholas Taleb 196
Lebanese-American essayist, scholar, statistician, former t… 1960

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Context: To read a newspaper is to refrain from reading something worth while. The natural laziness of the mind tempts one to eschew authors who demand a continuous effort of intelligence. The first discipline of education must therefore be to refuse resolutely to feed the mind with canned chatter.
People tell me that they must read the papers so as to know what is going on. In the first place, they could hardly find a worse guide. Most of what is printed turns out to be false, sooner or later. Even when there is no deliberate deception, the account must, from the nature of the case, be presented without adequate reflection and must seem to possess an importance which time shows to be absurdly exaggerated; or vice versa. No event can be fairly judged without background and perspective.

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“A rare event will be overweighted if it specifically attracts attention. […] And when there is no overweighting, there will be neglect.”

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“I am more and more convinced that our happiness or our unhappiness depends far more on the way we meet the events of life than on the nature of those events themselves.”

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