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Monthly Archives: February 2014

Do not socialize with people much richer than you; but if you do…

Do not socialize with people much richer than you; but if you do, do it in your own territory (restaurants you can afford, wine, etc.) — (As the tribe might have noticed, I am adding a list of 99 prescriptive heuristics, with rationalization, as a short standalone addition to the INCERTO). via Do not socialize […]

Would-be Error Detectors: Suit Up | AllAboutAlpha

Taleb writes thus: “Many have the illusion that ‘because Kolmogorov-Smirnov is nonparametric’, it is therefore immune to the nature specific distribution under the test….” What does that mean? The Kolmogorov-Smirnov test is a standard measure of how a certain data sample compares with a reference probability distribution. It focuses on the largest observed distance between […]

Taleb, Mystery and Conservatism | The Brussels Journal

‘Optionality’ involves recognizing the unexpected and unpredictable consequences of trial and error tinkering. Most inventions and discoveries are chance events; intelligence is involved in recognizing a good thing when you see it, even though you weren’t expecting it.…So intelligence is employed in employing optionality, rather than needing a correct theory that explains why everything is […]

If the professor needs to prepare to give a class…

If the professor needs to prepare to give a class, don’t attend. People should only teach what they have learned organically… or get another profession. (note the “needs to”… many here mistook it for should not prepare.) via If the professor needs to prepare to give a… – Nassim Nicholas Taleb.

Two very practical heuristics I picked up from Danny Kahneman…

Two very practical heuristics I picked up from Danny Kahneman 1. When positive, show net, when negative, show details. 2. Manipulate anchor to what did not happen rather than to what did happen. via Two very practical heuristics I picked up from… – Nassim Nicholas Taleb.