Thursday, May 31, 2018

In short ...

… Aphorisms from Antique Lands | Michael R J Bonner - (Hat tip, Dave Lull.)

For Taleb the capacity to explain why something unforeseen happened after the fact is useless in comparison to being able to assess present risk, and the only people who can do that competently are those who have skin in the game — those who have a stake in the outcome and who willingly take on risk. They understand the game because they are involved in it.

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