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“In preparing for battle I have always found that plans are useless, but planning is indispensable.”
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“There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle.”
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“Consider a more extreme example than the casino experiment. Assume a collection of people play Russian roulette a single time for a million dollars—this is the central story in Fooled by Randomness. About five out of six will make money. If someone used a standard cost-benefit analysis, he would have claimed that one has an 83.33 percent chance of gains, for an “expected” average return per shot of $833,333. But if you keep playing Russian roulette, you will end up in the cemetery. Your expected return is … not computable.”
― Skin in the Game: The Hidden Asymmetries in Daily Life
― Skin in the Game: The Hidden Asymmetries in Daily Life
“When evening comes, I return to my home, and I go into my study; and on the thresh-hold, I take off my everyday clothes, which are covered in mud and mire,and I put on regal and curial robes; and dressed in a more appropriate manner I enter into the ancient courts of ancient men and am welcomed by them kindly, and there I taste the food that alone is mine, and for which I was born; and there I am not ashamed to speak to them, to ask them the reasons for their actions; and they, in their humanity, answer me; and for four hours I feel no boredom,I dismiss every affliction, I no longer fear poverty nor do I tremble at the thought of death; I become completely part of them.”
― The Letters of Machiavelli : A Selection
― The Letters of Machiavelli : A Selection
“Essentially, all models are wrong, but some are useful.”
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