The Bed of Procrustes is a short book consisting of quotes by Taleb. Unlike his other books, this book is mostly a collection of quotes. Procrustes used to stretch/amputate his guests who won’t fit on his bed. Similarly, when our …
Does raising the education levels to lead to wealth? Should we bail out banks? Is an irregular diet better than a regular one? How complex systems differ from complicated ones?
The book posits a unique viewpoint to understand randomness and unpredictability in the world around us. Rather than trying to predict the improbable black swans, it focuses more on how not to be adversely impacted by them.
How wealth reduces optionality, why pilots commit less mistakes than surgeons, employees vs contractors, and why pope is an atheist
Probability is not about odds but a belief in the existence of an alternative outcome. Rational thinking has little to do with risk avoidance, most of it is about rationalizing one's actions by fitting some logic to them. People become leaders not because of the skills they possess but the superficial expressions they make on others ("charisma").
The reasons behind our portfolios and investment choices reveal a lot more about us than we might initially think. Half of all US mutual fund portfolio managers do not invest a cent of their own money in their funds, according …
The book focuses on the application of simple and profound maths to day-to-day life and how not to be deceived by mathematical traps. Dividing one number by another is mere computation. Figuring out what to divide is mathematics.