[H]istory cannot lend itself to experimentation. But... is potent enough... to eventually bury the bad guy. Bad trades catch up with you... Mathematicians of probability give that a... name: ergodicity. [R]oughly... properties of a very... long sample path would be similar to the Monte Carlo properties of an average of shorter ones. ...Those unlucky... in spite of their skills would eventually rise. The lucky fool... would slowly converge to the state of a less-lucky idiot. Each ...would revert to his long-term properties. (Nassim Nicholas Taleb)

[H]istory cannot lend itself to experimentation. But... is potent enough... to eventually bury the bad guy. Bad trades catch up with you... Mathematicians of probability give that a... name: ergodicity. [R]oughly... properties of a very... long sample path would be similar to the Monte Carlo properties of an average of shorter ones. ...Those unlucky... in spite of their skills would eventually rise. The lucky fool... would slowly converge to the state of a less-lucky idiot. Each ...would revert to his long-term properties.

Nassim Nicholas Taleb

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average bad bury catch enough experimentation fool guy idiot lend lucky monte name ones path potent probability revert rise sample similar spite state ergodicity shorter trades

Related quotes

Each state of the human mind has some parable in the physical creation by which it is shadowed forth; nor is it only artists and poets, but even the most abstract thinkers that have drawn from this source. Lively activity we name fire; time is a stream that rolls on, sweeping all before it; eternity is a circle; a mystery is hid in midnight gloom, and truth dwells in the sun. Nay, I begin to believe that even the future destiny of the human race is prefigured in the dark oracular utterances of bodily creation.

Friedrich Schiller

The stupidity of the average man will permit the oligarch, whether economic or political, to hide his real purposes from the scrutiny of his fellows and to withdraw his activities from effective control. Since it is impossible to count on enough moral goodwill among those who possess irresponsible power to sacrifice it for the good of the whole, it must be destroyed by coercive methods and these will always run the peril of introducing new forms of injustice in place of those abolished.

Reinhold Niebuhr

The first act by virtue of which the State really constitutes itself the representative of the whole of society-the taking possession of the means of production in the name of society-this is, at the same time, its last independent act as a State. State interference in social relations becomes, in one domain after another, superfluous, and then dies out of itself; the government of persons is replaced by the administration of things, and by the conduct of processes of production. The State is not "abolished.” It dies out.

Friedrich Engels

Is it not possible that the chimpanzees are responding to some feeling like awe? A feeling generated by the mystery of water; water that seems alive, always rushing past yet never going, always the same yet ever different. Was it perhaps similar feelings of awe that gave rise to the first animistic religions, the worship of the elements and the mysteries of nature over which there was no control? Only when our prehistoric ancestors developed language would it have been possible to discuss such internal feelings and create a shared religion.

Jane Goodall

Broader and deeper we must write our annals, from an ethical reformation, from an influx of the ever new, ever sanative conscience, if we would trulier express our central and wide-related nature, instead of this old chronology of selfishness and pride to which we have too long lent our eyes. Already that day exists for us, shines in on us at unawares, but the path of science and of letters is not the way into nature. The idiot, the Indian, the child, and unschooled farmer's boy, stand nearer to the light by which nature is to be read, than the dissector or the antiquary.

Ralph Waldo Emerson