Victoria

“VaR has been called “potentially catastrophic,” “a fraud,” and many other things not fit for a family book about statistics like this one. In particular, the model has been blamed for the onset and severity of the financial crisis. The primary critique of VaR is that the underlying risks associated with financial markets are not as predictable as a coin flip or even a blind taste test between two beers. The false precision embedded in the models created a false sense of security. The VaR was like a faulty speedometer, which is arguably worse than no speedometer at all. If you place too much faith in the broken speedometer, you will be oblivious to other signs that your speed is unsafe. In contrast, if there is no speedometer at all, you have no choice but to look around for clues as to how fast you are really going.”
― Charles Wheelan, Naked Statistics: Stripping the Dread from the Data

“The greatest risks are never the ones you can see and measure, but the ones you can’t see and therefore can never measure. The ones that seem so far outside the boundary of normal probability that you can’t imagine they could happen in your lifetime—even though, of course, they do happen, more often than you care to realize.”
― Charles Wheelan, Naked Statistics: Stripping the Dread from the Data

“By transporting Asian species to North America, and North American species to Australia, and Australian species to Africa, and European species to Antarctica, we are, in effect, reassembling the world into one enormous supercontinent—what biologists sometimes refer to as the New Pangaea.”
― Elizabeth Kolbert, The Sixth Extinction: An Unnatural History

“Sometimes the simplest and best use of our will is to drop it all and just walk out from under everything that is covering us, even if only for an hour or so—just walk out from under the webs we've spun, the tasks we've assumed, the problems we have to solve. They'll be there when we get back, and maybe some of them will fall apart without our worry to hold them up.”
― Mark Nepo, The Book of Awakening: Having the Life You Want by Being Present to the Life You Have