Achal Augustine

“I was losing—a lot: about $75,000 during the last few months of 2006, most of it in one horrible evening. I played through the first several months of 2007 and continued to lose—another $60,000 or so. At that point, no longer confident that I could beat the games, I cashed out the rest of my money and quit.”
― Nate Silver, The Signal and the Noise: Why So Many Predictions Fail-but Some Don't

“There is a “water level” established by the competition and your profit will be like the tip of an iceberg: a small sliver of competitive advantage floating just above the surface, but concealing a vast bulwark of effort that went in to support it.”
― Nate Silver, The Signal and the Noise: Why So Many Predictions Fail-but Some Don't

“If you hold there is a 100 percent probability that God exists, or a 0 percent probability, then under Bayes’s theorem, no amount of evidence could persuade you otherwise.”
― Nate Silver, The Signal and the Noise: Why So Many Predictions Fail-but Some Don't

“The market can stay irrational longer than you can stay solvent.”
― Nate Silver, The Signal and the Noise: Why So Many Predictions Fail-but Some Don't