{"id":4078,"date":"2023-09-09T03:06:31","date_gmt":"2023-09-09T07:06:31","guid":{"rendered":"https:\/\/parmaks.com\/Resources\/nassim-nicholas-taleb-scott-patterson-how-traders-make-billions-in-the-new-age-of-crisis-defending-against-silent-risks-personal-independence-skepticism-where-it-really-counts-the-bi\/"},"modified":"2023-09-09T03:06:31","modified_gmt":"2023-09-09T07:06:31","slug":"nassim-nicholas-taleb-scott-patterson-how-traders-make-billions-in-the-new-age-of-crisis-defending-against-silent-risks-personal-independence-skepticism-where-it-really-counts-the-bi","status":"publish","type":"post","link":"https:\/\/parmaks.com\/Resources\/nassim-nicholas-taleb-scott-patterson-how-traders-make-billions-in-the-new-age-of-crisis-defending-against-silent-risks-personal-independence-skepticism-where-it-really-counts-the-bi\/","title":{"rendered":"Nassim Nicholas Taleb &#038; Scott Patterson \u2014 How Traders Make Billions in The New Age of Crisis, Defending Against Silent Risks, Personal Independence, Skepticism Where It (Really) Counts, The Bishop and The Economist, and Much More (#691)"},"content":{"rendered":"<p> <a href=\"https:\/\/hop.clickbank.net\/?affiliate=infohatch&amp;vendor=J1R2C\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-10614 aligncenter\" src=\"http:\/\/parmaks.com\/Resources\/wp-content\/uploads\/2025\/05\/profit-gen400px.png\" alt=\"Profit Gen\" width=\"400\" height=\"217\" srcset=\"https:\/\/parmaks.com\/Resources\/wp-content\/uploads\/2025\/05\/profit-gen400px.png 400w, https:\/\/parmaks.com\/Resources\/wp-content\/uploads\/2025\/05\/profit-gen400px-300x163.png 300w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a><br \/>\n<\/p>\n<div>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"480\" alt=\"\" class=\"wp-image-68866 jetpack-lazy-image\" data-recalc-dims=\"1\" srcset=\"https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/09\/Nassim-Taleb-and-Scott-Patterson-Illustration-scaled.jpeg?resize=1024%2C819&amp;ssl=1 1024w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/09\/Nassim-Taleb-and-Scott-Patterson-Illustration-scaled.jpeg?resize=300%2C240&amp;ssl=1 300w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/09\/Nassim-Taleb-and-Scott-Patterson-Illustration-scaled.jpeg?resize=768%2C614&amp;ssl=1 768w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/09\/Nassim-Taleb-and-Scott-Patterson-Illustration-scaled.jpeg?resize=1536%2C1229&amp;ssl=1 1536w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/09\/Nassim-Taleb-and-Scott-Patterson-Illustration-scaled.jpeg?resize=2048%2C1638&amp;ssl=1 2048w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/09\/Nassim-Taleb-and-Scott-Patterson-Illustration-scaled.jpeg?w=1200&amp;ssl=1 1200w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/09\/Nassim-Taleb-and-Scott-Patterson-Illustration-scaled.jpeg?w=1800&amp;ssl=1 1800w\" data-lazy-sizes=\"(max-width: 767px) 90vw, 600px\" src=\"https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/09\/Nassim-Taleb-and-Scott-Patterson-Illustration.jpeg?resize=600%2C480&amp;is-pending-load=1#038;ssl=1\"\/><noscript><img loading=\"lazy\" data-lazy-fallback=\"1\" decoding=\"async\" width=\"600\" height=\"480\" src=\"https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/09\/Nassim-Taleb-and-Scott-Patterson-Illustration.jpeg?resize=600%2C480&amp;ssl=1\" alt=\"\" class=\"wp-image-68866\" srcset=\"https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/09\/Nassim-Taleb-and-Scott-Patterson-Illustration-scaled.jpeg?resize=1024%2C819&amp;ssl=1 1024w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/09\/Nassim-Taleb-and-Scott-Patterson-Illustration-scaled.jpeg?resize=300%2C240&amp;ssl=1 300w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/09\/Nassim-Taleb-and-Scott-Patterson-Illustration-scaled.jpeg?resize=768%2C614&amp;ssl=1 768w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/09\/Nassim-Taleb-and-Scott-Patterson-Illustration-scaled.jpeg?resize=1536%2C1229&amp;ssl=1 1536w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/09\/Nassim-Taleb-and-Scott-Patterson-Illustration-scaled.jpeg?resize=2048%2C1638&amp;ssl=1 2048w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/09\/Nassim-Taleb-and-Scott-Patterson-Illustration-scaled.jpeg?w=1200&amp;ssl=1 1200w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/09\/Nassim-Taleb-and-Scott-Patterson-Illustration-scaled.jpeg?w=1800&amp;ssl=1 1800w\" sizes=\"auto, (max-width: 767px) 90vw, 600px\" data-recalc-dims=\"1\"\/><\/noscript><figcaption class=\"wp-element-caption\">Illustration via <a rel=\"nofollow external noopener noreferrer\" target=\"_blank\" href=\"http:\/\/99designs.com\/tim\">99designs<\/a><\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote\">\n<p><strong>\u201cIf you must panic, panic early.\u201d<\/strong><\/p>\n<p><cite>\u2014 Nassim Nicholas Taleb<\/cite><\/p><\/blockquote>\n<blockquote class=\"wp-block-quote\">\n<p><strong>\u201cUncertainty is actually a reason for precaution rather than just throwing caution to the wind and just saying, \u2018Well, we don\u2019t know, so what the hell? Let\u2019s just keep going.&#8217;\u201d<\/strong><\/p>\n<p><cite>\u2014 Scott Patterson<\/cite><\/p><\/blockquote>\n<p><strong>Nassim Nicholas Taleb\u00a0<\/strong>(<a href=\"https:\/\/twitter.com\/nntaleb\" rel=\"nofollow external noopener noreferrer\" target=\"_blank\">@nntaleb<\/a>)<strong>\u00a0<\/strong>spent 21 years as a risk-taker (quantitative trader) before becoming a researcher in philosophical, mathematical, and (mostly) practical problems with probability.<\/p>\n<p>Taleb is the author of a multivolume essay, the\u00a0<a href=\"https:\/\/www.amazon.com\/Incerto-Fooled-Randomness-Procrustes-Antifragile\/dp\/059324365X\/?tag=offsitoftimfe-20\" rel=\"nofollow external noopener noreferrer\" target=\"_blank\"><em>Incerto<\/em><\/a>\u00a0(<a href=\"https:\/\/www.amazon.com\/Black-Swan-Improbable-Robustness-Fragility\/dp\/081297381X\/?tag=offsitoftimfe-20\" rel=\"nofollow external noopener noreferrer\" target=\"_blank\"><em>The Black Swan<\/em><\/a>,\u00a0<a href=\"https:\/\/www.amazon.com\/Fooled-Randomness-Hidden-Markets-Incerto\/dp\/0812975219\/?tag=offsitoftimfe-20\" rel=\"nofollow external noopener noreferrer\" target=\"_blank\"><em>Fooled by Randomness<\/em><\/a>,\u00a0<a href=\"https:\/\/www.amazon.com\/Antifragile-Things-That-Disorder-Incerto\/dp\/0812979680\/?tag=offsitoftimfe-20\" rel=\"nofollow external noopener noreferrer\" target=\"_blank\"><em>Antifragile<\/em><\/a>,\u00a0<a href=\"https:\/\/www.amazon.com\/Bed-Procrustes-Philosophical-Practical-Aphorisms\/dp\/0812982401\/?tag=offsitoftimfe-20\" rel=\"nofollow external noopener noreferrer\" target=\"_blank\"><em>The Bed of Procrustes<\/em><\/a>, and\u00a0<a href=\"https:\/\/www.amazon.com\/Skin-Game-Hidden-Asymmetries-Daily\/dp\/0425284646\/?tag=offsitoftimfe-20\" rel=\"nofollow external noopener noreferrer\" target=\"_blank\"><em>Skin in the Game<\/em><\/a>), covering broad facets of uncertainty. His work has been published into 49 languages.<\/p>\n<p>In addition to his trader life, Taleb has also written, as a backup of the\u00a0<em>Incerto<\/em>, more than 70 technical and scholarly papers in mathematical statistics, genetics, quantitative finance, statistical physics, medicine, philosophy, ethics, economics, and international affairs around the notion of risk and probability (grouped in the\u00a0<a href=\"https:\/\/www.amazon.com\/Statistical-Consequences-Fat-Tails-Preasymptotics\/dp\/B0CD8X5YC5\/?tag=offsitoftimfe-20\" rel=\"nofollow external noopener noreferrer\" target=\"_blank\"><em>Technical Incerto<\/em><\/a>).<\/p>\n<p>Taleb is currently Distinguished Professor of Risk Engineering at NYU\u2019s Tandon School of Engineering (retired). His current focus is on the properties of systems that can handle disorder (\u201cantifragile\u201d).<\/p>\n<p>*<\/p>\n<p><strong>Scott Patterson<\/strong>\u00a0(<a href=\"https:\/\/twitter.com\/pattersonscott?lang=en\" rel=\"nofollow external noopener noreferrer\" target=\"_blank\">@pattersonscott<\/a>) is an<strong>\u00a0<\/strong>investigative reporter for\u00a0<em>The Wall Street Journal<\/em>, currently based in Washington DC, working on climate and energy policy. His new book is\u00a0<a href=\"https:\/\/www.amazon.com\/Chaos-Kings-Street-Traders-Billions\/dp\/1982179937\/?tag=offsitoftimfe-20\" rel=\"nofollow external noopener noreferrer\" target=\"_blank\"><strong><em>Chaos Kings: How Wall Street Traders Make Billions in the New Age of Crisis<\/em><\/strong><\/a>, a profile of the rise of \u201cblack-swan traders,\u201d such as Nassim Taleb and Mark Spitznagel, as well as a survey of the many perils the world faces today\u2014and how we might fix them.<\/p>\n<p>Scott has covered everything from Berkshire Hathaway to stock exchanges to high-speed traders to the financial regulators. His first book,\u00a0<a href=\"https:\/\/www.amazon.com\/Quants-Whizzes-Conquered-Street-Destroyed\/dp\/0307453383\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><em>The Quants<\/em><\/a>, describes the rise of mathematical finance and delves into its role in the 2008 financial blowup.\u00a0<a href=\"https:\/\/www.amazon.com\/Dark-Pools-Machine-Traders-Rigging\/dp\/0307887189\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><em>Dark Pools<\/em><\/a>, his second book, tells how computer traders took control of the US stock market, starting from the birth of computer trading in the 1980s to the explosion of high-frequency trading in the late 2000s.<\/p>\n<p>Please enjoy!<\/p>\n<p><strong><em><strong><em>Listen to the episode on <a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/the-tim-ferriss-show\/id863897795?mt=2\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/episode\/0xm1Pyc7ehaGZuANB7FlPt?si=3UxJROaoTSed62XnDDLr1Q\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Spotify<\/a>, <a href=\"https:\/\/overcast.fm\/+Kebt2a-HQ\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Overcast<\/a>, <a href=\"https:\/\/podcastaddict.com\/podcast\/2031148#\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Podcast Addict<\/a>, <a href=\"https:\/\/pca.st\/timferriss\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Pocket Casts<\/a>, <a href=\"https:\/\/castbox.fm\/channel\/id1059468?country=us\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Castbox<\/a>, <a href=\"https:\/\/podcasts.google.com\/?feed=aHR0cHM6Ly9yc3MuYXJ0MTkuY29tL3RpbS1mZXJyaXNzLXNob3c&amp;ved=0CAAQ4aUDahcKEwjI_ezXzuDnAhUAAAAAHQAAAAAQAQ\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Google Podcasts<\/a>, <strong><em><strong><em><a href=\"https:\/\/music.amazon.com\/podcasts\/9814f3cc-1dc5-4003-b816-44a8eb6bf666\/the-tim-ferriss-show\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Amazon Music<\/a>,\u00a0<\/em><\/strong><\/em><\/strong>or on your favorite podcast platform<\/em><\/strong><\/em><\/strong><em><strong>.<\/strong><\/em> <em><strong>You can <a rel=\"nofollow external noopener noreferrer\" target=\"_blank\" href=\"https:\/\/youtu.be\/18ZxCxN2ZMo\">watch the interview on YouTube here<\/a>. <\/strong><\/em><\/p>\n<p><strong><em>Brought to you by<\/em><\/strong>\u00a0<a href=\"https:\/\/drinkag1.com\/tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><strong><em>AG1<\/em><\/strong><\/a><strong><em>\u00a0all-in-one nutritional supplement<\/em>,\u00a0<\/strong><a href=\"https:\/\/helixsleep.com\/tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><strong><em>Helix Sleep<\/em><\/strong><\/a><strong><em>\u00a0premium mattresses, and\u00a0<\/em><\/strong><a href=\"https:\/\/linkedin.com\/tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><strong><em>LinkedIn Jobs<\/em><\/strong><\/a><strong><em>\u00a0recruitment platform with 900M+ users.<\/em><\/strong><\/p>\n<p><em>The transcript of this episode\u00a0<a href=\"https:\/\/tim.blog\/2023\/09\/08\/nassim-nicholas-taleb-scott-patterson-transcript\/\" target=\"_blank\" rel=\"noreferrer noopener\">can be found here<\/a>. Transcripts of all episodes\u00a0<a href=\"https:\/\/tim.blog\/2018\/09\/20\/all-transcripts-from-the-tim-ferriss-show\/\" target=\"_blank\" rel=\"noreferrer noopener\">can be found here<\/a>.<\/em><\/p>\n<div class=\"wp-block-tim-podcast-link-main podcast-block wp-embed-aspect-16-9 wp-has-aspect-ratio\"><a class=\"podcast-block__link\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\" href=\"https:\/\/podcasts.apple.com\/us\/podcast\/the-tim-ferriss-show\/id863897795?mt=2\"><img decoding=\"async\" class=\"podcast-block__link-icon jetpack-lazy-image\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/tim.blog\/wp-content\/themes\/timferriss\/inc\/blocks\/podcast-link\/images\/apple-podcast.png?w=600&amp;is-pending-load=1#038;ssl=1\" srcset=\"https:\/\/tim.blog\/data:image\/gif;base64,https:\/\/tim.blog\/R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\"\/><noscript><img data-lazy-fallback=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/tim.blog\/wp-content\/themes\/timferriss\/inc\/blocks\/podcast-link\/images\/apple-podcast.png?w=600&amp;ssl=1\" class=\"podcast-block__link-icon\" data-recalc-dims=\"1\"\/><\/noscript><span class=\"podcast-block__link-text-top\">Listen on<\/span><span class=\"podcast-block__link-text\">Apple Podcasts<\/span><\/a><\/div>\n<div class=\"wp-block-tim-podcast-link-main podcast-block wp-embed-aspect-16-9 wp-has-aspect-ratio\"><a class=\"podcast-block__link\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\" href=\"https:\/\/open.spotify.com\/episode\/0xm1Pyc7ehaGZuANB7FlPt?si=3UxJROaoTSed62XnDDLr1Q\"><img loading=\"lazy\" width=\"167\" height=\"167\" decoding=\"async\" class=\"podcast-block__link-icon jetpack-lazy-image\" src=\"https:\/\/tim.blog\/wp-content\/themes\/timferriss\/inc\/blocks\/podcast-link\/images\/spotify.svg?is-pending-load=1\" srcset=\"https:\/\/tim.blog\/data:image\/gif;base64,https:\/\/tim.blog\/R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\"\/><noscript><img data-lazy-fallback=\"1\" decoding=\"async\" src=\"https:\/\/tim.blog\/wp-content\/themes\/timferriss\/inc\/blocks\/podcast-link\/images\/spotify.svg\" class=\"podcast-block__link-icon\"\/><\/noscript><span class=\"podcast-block__link-text-top\">Listen on<\/span><span class=\"podcast-block__link-text\">Spotify<\/span><\/a><\/div>\n<div class=\"wp-block-tim-podcast-link-main podcast-block wp-embed-aspect-16-9 wp-has-aspect-ratio\"><a class=\"podcast-block__link\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\" href=\"https:\/\/overcast.fm\/+Kebt2a-HQ\"><img loading=\"lazy\" width=\"1000\" height=\"1000\" decoding=\"async\" class=\"podcast-block__link-icon jetpack-lazy-image\" src=\"https:\/\/tim.blog\/wp-content\/themes\/timferriss\/inc\/blocks\/podcast-link\/images\/overcast.svg?is-pending-load=1\" srcset=\"https:\/\/tim.blog\/data:image\/gif;base64,https:\/\/tim.blog\/R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\"\/><noscript><img data-lazy-fallback=\"1\" decoding=\"async\" src=\"https:\/\/tim.blog\/wp-content\/themes\/timferriss\/inc\/blocks\/podcast-link\/images\/overcast.svg\" class=\"podcast-block__link-icon\"\/><\/noscript><span class=\"podcast-block__link-text-top\">Listen on<\/span><span class=\"podcast-block__link-text\">Overcast<\/span><\/a><\/div>\n<div class=\"podcast-player\">\n<div class=\"podcast-player-inner-wrap\">\n<p>#691: Nassim N. Taleb &amp; Scott Patterson \u2014 How Traders Make Billions in The New Age of Crisis, Defending Against Silent Risks, Personal Independence, Skepticism Where It (Really) Counts, The Bishop and The Economist, and Much More<\/p>\n<p><noscript><iframe src=\"https:\/\/www.art19.com\/shows\/58dacbdc-646e-4585-9914-19c3de11d1ba\/episodes\/7b5c4405-b143-4f7b-a6a6-0444e63fe65a\/embed?type=micro\" style=\"width: 100%; height: 30px; border: 0 none;\" scrolling=\"no\"><\/iframe><\/noscript><\/div>\n<\/div>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<p>\n<span class=\"embed-youtube\" style=\"text-align:center; display: block;\"><iframe loading=\"lazy\" title=\"Nassim Nicholas Taleb &amp; Scott Patterson \u2014 How Traders Make Billions in The New Age of Crisis\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/18ZxCxN2ZMo?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/span>\n<\/p>\n<\/figure>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<p><strong>This episode is brought to you by <a rel=\"nofollow external noopener noreferrer\" target=\"_blank\" href=\"https:\/\/drinkag1.com\/tim\">AG1<\/a>!<\/strong>\u00a0I get asked all the time, \u201cIf you could use only one supplement, what would it be?\u201d My answer is usually\u00a0<a href=\"https:\/\/drinkag1.com\/tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">AG1<\/a>, my all-in-one nutritional insurance. I recommended it in\u00a0<em>The 4-Hour Body<\/em>\u00a0in 2010 and did not get paid to do so. I do my best with nutrient-dense meals, of course, but\u00a0<a href=\"https:\/\/drinkag1.com\/tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">AG1<\/a>\u00a0further covers my bases with vitamins, minerals, and whole-food-sourced micronutrients that support gut health and the immune system.\u00a0<\/p>\n<p><strong>Right now,\u00a0you\u2019ll get a 1-year supply of Vitamin D free with your first subscription purchase<\/strong>\u2014a vital nutrient for a strong immune system and strong bones.\u00a0<strong>Visit\u00a0<a rel=\"nofollow external noopener noreferrer\" target=\"_blank\" href=\"https:\/\/drinkag1.com\/tim\">DrinkAG1.com\/Tim<\/a>\u00a0to claim this special offer today and receive your 1-year supply of Vitamin D (and 5 free AG1 travel packs) with your first subscription purchase!\u00a0<\/strong>That\u2019s up to a one-year supply of Vitamin D as added value when you try their delicious and comprehensive daily, foundational nutrition supplement that supports whole-body health. <\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<p><strong>This episode is brought to you by\u00a0<a href=\"http:\/\/helixsleep.com\/tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><strong>Helix Sleep<\/strong><\/a>!\u00a0<\/strong>Helix was selected as the best overall mattress of 2022 by\u00a0<em>GQ\u00a0<\/em>magazine<em>, Wired,\u00a0<\/em>and Apartment Therapy. With\u00a0<a href=\"http:\/\/helixsleep.com\/tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Helix<\/a>, there\u2019s a specific mattress to meet each and every body\u2019s unique comfort needs. Just take their quiz\u2014<a href=\"http:\/\/helixsleep.com\/tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">only two minutes to complete<\/a>\u2014that matches your body type and sleep preferences to the perfect mattress for you. They have a 10-year warranty, and you get to try it out for a hundred nights, risk-free. They\u2019ll even pick it up from you if you don\u2019t love it.\u00a0<strong>And now, Helix is offering 25% off all mattress orders plus two free pillows at\u00a0<a href=\"http:\/\/helixsleep.com\/tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">HelixSleep.com\/Tim<\/a>.<\/strong> The 25% off offer is valid until September 10th. <\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<p><strong>This episode is brought to you by\u00a0<\/strong><a rel=\"nofollow external noopener noreferrer\" href=\"https:\/\/linkedin.com\/Tim\" target=\"_blank\"><strong>LinkedIn Jobs<\/strong><\/a><strong>.<\/strong>\u00a0Whether you are looking to hire now for a critical role or thinking about needs that you may have in the future,\u00a0<a rel=\"nofollow external noopener noreferrer\" href=\"https:\/\/linkedin.com\/Tim\" target=\"_blank\">LinkedIn Jobs<\/a>\u00a0can help. LinkedIn screens candidates for the hard and soft skills you\u2019re looking for and puts your job in front of candidates looking for job opportunities that match what you have to offer.<\/p>\n<p>Using LinkedIn\u2019s active community of more than 900 million professionals worldwide,\u00a0<a href=\"https:\/\/linkedin.com\/Tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><strong>LinkedIn Jobs<\/strong><\/a>\u00a0can help you find and hire the right person faster.\u00a0<strong>When your business is ready to make that next hire, find the right person with LinkedIn Jobs. And now, you can post a job for free.<\/strong>\u00a0<a href=\"https:\/\/linkedin.com\/Tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><strong>Just visit LinkedIn.com\/Tim<\/strong><\/a><strong>.<\/strong><\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<p><strong><a href=\"https:\/\/tim.blog\/2022\/06\/28\/edward-o-thorp-2\/\" target=\"_blank\" rel=\"noreferrer noopener\">Want to hear<\/a> an interview with someone else who history will remember as much more than a successful hedge fund manager?<\/strong> Listen to my most recent conversation with <a href=\"https:\/\/tim.blog\/2022\/06\/28\/edward-o-thorp-2\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Ed Thorp<\/strong><\/a> in which we discussed music as stress reduction, avoiding unnecessary risks, how to become more numeracy literate, the value of long-term thinking, the price of short-term thinking, making the best financial decisions with unknown variables, how to have fun learning about probability and statistics, <a href=\"https:\/\/tim.blog\/2022\/06\/28\/edward-o-thorp-2\/\" target=\"_blank\" rel=\"noreferrer noopener\">and much more<\/a>.<\/p>\n<div class=\"podcast-player\">\n<div class=\"podcast-player-inner-wrap\">\n<p>#604: Master Investor Ed Thorp on How to Think for Yourself, Mental Models for the Second Half of Life, How to Be Inner-Directed, How Basic Numeracy Is a Superpower, and The Dangers of Investing Fads<\/p>\n<p><noscript><iframe src=\"https:\/\/www.art19.com\/shows\/58dacbdc-646e-4585-9914-19c3de11d1ba\/episodes\/b91aabda-fddc-4e9f-81a9-d953ea9c9bcd\/embed?type=micro\" style=\"width: 100%; height: 30px; border: 0 none;\" scrolling=\"no\"><\/iframe><\/noscript><\/div>\n<\/div>\n<p><strong>What was your favorite quote or lesson from this episode? Please let me know <a href=\"https:\/\/tim.blog\/2023\/09\/07\/nassim-nicholas-taleb-scott-patterson\/#respond\">in the comments<\/a>.<\/strong><\/p>\n<p><strong>SCROLL BELOW FOR LINKS AND SHOW NOTES\u2026<\/strong><\/p>\n<p><span id=\"more-68863\"\/><\/p>\n<h3 class=\"wp-block-heading\">SELECTED LINKS FROM THE EPISODE<\/h3>\n<ul>\n<li>Connect with <strong>Nassim Nicholas Taleb<\/strong>:<\/li>\n<\/ul>\n<p class=\"has-text-align-center\"><a href=\"https:\/\/www.fooledbyrandomness.com\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Website<\/a> | <a href=\"https:\/\/twitter.com\/nntaleb\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Twitter<\/a><\/p>\n<ul>\n<li>Connect with <strong>Scott Patterson<\/strong>:<\/li>\n<\/ul>\n<p class=\"has-text-align-center\"><a href=\"https:\/\/scottpattersonbooks.com\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Website<\/a> | <a href=\"https:\/\/twitter.com\/pattersonscott\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Twitter<\/a><\/p>\n<ul>\n<li><a href=\"https:\/\/www.amazon.com\/Chaos-Kings-Street-Traders-Billions\/dp\/1982179937\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><strong>Chaos Kings: How Wall Street Traders Make Billions in the New Age of Crisis by Scott Patterson | Amazon<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/www.amazon.com\/Quants-Whizzes-Conquered-Street-Destroyed\/dp\/0307453383\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It by Scott Patterson | Amazon<\/a><\/li>\n<li><a href=\"https:\/\/www.amazon.com\/Dark-Pools-Machine-Traders-Rigging\/dp\/0307887189\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Dark Pools: The Rise of the Machine Traders and the Rigging of the US Stock Market by Scott Patterson | Amazon<\/a><\/li>\n<li><a href=\"https:\/\/www.amazon.com\/Incerto-Fooled-Randomness-Procrustes-Antifragile\/dp\/059324365X\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Incerto by Nassim Nicholas Taleb | Amazon<\/a><\/li>\n<li><a href=\"https:\/\/www.amazon.com\/Black-Swan-Improbable-Robustness-Fragility\/dp\/081297381X\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Black Swan: The Impact of the Highly Improbable by Nassim Nicholas Taleb | Amazon<\/a><\/li>\n<li><a href=\"https:\/\/www.amazon.com\/Fooled-Randomness-Hidden-Markets-Incerto\/dp\/0812975219\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Nassim Nicholas Taleb | Amazon<\/a><\/li>\n<li><a href=\"https:\/\/www.amazon.com\/Antifragile-Things-That-Disorder-Incerto\/dp\/0812979680\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Antifragile: Things That Gain from Disorder by Nassim Nicholas Taleb | Amazon<\/a><\/li>\n<li><a href=\"https:\/\/www.amazon.com\/Bed-Procrustes-Philosophical-Practical-Aphorisms\/dp\/0812982401\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Bed of Procrustes: Philosophical and Practical Aphorisms by Nassim Nicholas Taleb | Amazon<\/a><\/li>\n<li><a href=\"https:\/\/www.amazon.com\/Skin-Game-Hidden-Asymmetries-Daily\/dp\/0425284646\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Skin in the Game: Hidden Asymmetries in Daily Life by Nassim Nicholas Taleb | Amazon<\/a><\/li>\n<li><a href=\"https:\/\/www.amazon.com\/Statistical-Consequences-Fat-Tails-Preasymptotics\/dp\/B0CD8X5YC5\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Statistical Consequences of Fat Tails: Real World Preasymptotics, Epistemology, and Applications (Technical Incerto) by Nassim Nicholas Taleb | Amazon<\/a><\/li>\n<li><a href=\"http:\/\/www.hoagiehaven.com\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Hoagie Haven<\/a><\/li>\n<li><a href=\"https:\/\/www.wsj.com\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Wall Street Journal<\/a><\/li>\n<li><a href=\"https:\/\/en.wikipedia.org\/wiki\/Empirica_Capital\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Empirica Capital | Wikipedia<\/a><\/li>\n<li><a href=\"https:\/\/www.universa.net\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Universa Investments LP<\/a><\/li>\n<li><a href=\"https:\/\/www.investopedia.com\/articles\/economics\/09\/lehman-brothers-collapse.asp\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Collapse of Lehman Brothers: A Case Study | Investopedia<\/a><\/li>\n<li><a href=\"https:\/\/www.investopedia.com\/terms\/t\/tailrisk.asp\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Understanding Tail Risk and the Odds of Portfolio Losses | Investopedia<\/a><\/li>\n<li><a href=\"https:\/\/fernandonogueiracosta.files.wordpress.com\/2014\/07\/taleb-nassim-silent-risk.pdf\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Silent Risk: Lectures on Fat Tails, (Anti)Fragility, Precaution, and Asymmetric Exposures by Nassim Nicholas Taleb<\/a><\/li>\n<li><a href=\"https:\/\/www.investopedia.com\/terms\/b\/blackmonday.asp\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Black Monday: Definition in Stocks, What Caused It, and Losses | Investopedia<\/a><\/li>\n<li><a href=\"https:\/\/www.officialdata.org\/us\/stocks\/s-p-500\/2007\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">S&amp;P 500 Returns since 2007 | Official Data Foundation<\/a><\/li>\n<li><a href=\"https:\/\/www.snopes.com\/news\/2022\/02\/19\/bruce-lee-value-of-practice\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Did Bruce Lee Say This About the Value of Practice? | Snopes<\/a><\/li>\n<li><a href=\"https:\/\/www.bankrate.com\/investing\/what-are-put-options-learn-basics-buying-selling\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">What Is a Put Option?: A Guide to Buying and Selling | Bankrate<\/a><\/li>\n<li><a href=\"https:\/\/necsi.edu\/systemic-risk-of-pandemic-via-novel-pathogens-coronavirus-a-note\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Systemic Risk of Pandemic via Novel Pathogens \u2013 Coronavirus: A Note | New England Complex Systems Institute<\/a><\/li>\n<li><a href=\"https:\/\/www.newyorker.com\/news\/daily-comment\/the-pandemic-isnt-a-black-swan-but-a-portent-of-a-more-fragile-global-system?utm_campaign=falcon&amp;utm_source=facebook&amp;utm_social-type=owned&amp;utm_medium=social&amp;mbid=social_facebook&amp;utm_brand=tny&amp;fbclid=IwAR27VF3vqPfWRc4e3Gl0WyPP-NUUlYC6zZzypDnrbXTMvFbTBxcfZ4MALLc\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Pandemic Isn\u2019t a Black Swan but a Portent of a More Fragile Global System | The New Yorker<\/a><\/li>\n<li><a href=\"https:\/\/www.montana.edu\/historybug\/yersiniaessays\/schat.html#:~:text=The%20plague%20reached%20Constantinople%20in,1)%20(Keys%201999).\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Did Justinian Create the First Pandemic? | Montana State University<\/a><\/li>\n<li><a href=\"https:\/\/www.ncbi.nlm.nih.gov\/pmc\/articles\/PMC2732530\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Biological Warfare at the 1346 Siege of Caffa | Emerging Infectious Diseases<\/a><\/li>\n<li><a href=\"https:\/\/www.nationalarchives.gov.uk\/education\/resources\/great-plague\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Great Plague of 1665-1666 | The National Archives<\/a><\/li>\n<li><a href=\"https:\/\/www.history.com\/news\/pandemics-end-plague-cholera-black-death-smallpox\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">How Five of History\u2019s Worst Pandemics Finally Ended | History<\/a><\/li>\n<li><a href=\"https:\/\/www.nature.com\/articles\/s41567-020-0921-x\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Tail Risk of Contagious Diseases | Nature Physics<\/a><\/li>\n<li><a href=\"https:\/\/www.netflix.com\/title\/81252357\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Don\u2019t Look Up | Netflix<\/a><\/li>\n<li><a href=\"https:\/\/cla.umn.edu\/austrian\/story\/cas-exclusive-emperor-josephs-solution-coronavirus\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Emperor Joseph\u2019s Solution to Coronavirus | University of Minnesota<\/a><\/li>\n<li><a href=\"https:\/\/tzdubrovnik.hr\/lang\/en\/get\/spomenici\/5505\/the_lazarettos.html\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Lazarettos | Experience Dubrovnik<\/a><\/li>\n<li><a href=\"https:\/\/govinsider.asia\/intl-en\/article\/revealed-singapores-strategic-secrets-for-staying-ahead\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Revealed: Singapore\u2019s Strategic Secrets for Staying Ahead | GovInsider<\/a><\/li>\n<li><a href=\"https:\/\/www.fdic.gov\/bank\/historical\/managing\/chronological\/1982.html\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Managing the Crisis: Chronological Overview \u2014 Chapter Five: 1982 | FDIC<\/a><\/li>\n<li><a href=\"https:\/\/fundamentalfinanceplaybook.com\/bob-rubin-trade\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">A Bob Rubin Trade | Fundamental Finance Playbook<\/a><\/li>\n<li><a href=\"https:\/\/www.seattletimes.com\/business\/robert-rubin-former-exec-at-citigroup-apologizes-over-financial-crisis\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Robert Rubin, Former Exec at Citigroup, Apologizes over Financial Crisis | The Seattle Times<\/a><\/li>\n<li><a href=\"https:\/\/www.theguardian.com\/books\/2012\/nov\/24\/nassim-taleb-antifragile-finance-interview#:~:text=We're%20perhaps%20not%20all%20quite%20as%20independent,more%20of%20it%2C%20Taleb%20doesn't%20actually%20seem\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Nassim Taleb: My Rules for Life | The Guardian<\/a><\/li>\n<li><a href=\"https:\/\/www.maxim.com\/maxim-man\/8-rules-for-haters-tools-for-titans-2016-12\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Eight Terrific Tactics for Dealing with Haters, According to Tim Ferriss | Maxim<\/a><\/li>\n<li><a href=\"https:\/\/25iq.com\/2015\/10\/24\/a-dozen-things-ive-learned-from-charlie-munger-about-ethics\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">A Dozen Things I\u2019ve Learned from Charlie Munger about Ethics | 25iq<\/a><\/li>\n<li><a href=\"https:\/\/www.citadel.com\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Identifying the Highest and Best Uses of Capital | Citadel<\/a><\/li>\n<li><a href=\"https:\/\/www.yahoo.com\/video\/taleb-asness-black-swan-spat-131503756.html\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Taleb-Asness Black Swan Spat Is a Teaching Moment | Yahoo!<\/a><\/li>\n<li><a href=\"https:\/\/plato.stanford.edu\/entries\/existentialism\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Existentialism | Stanford Encyclopedia of Philosophy<\/a><\/li>\n<li><a href=\"https:\/\/www.amazon.com\/Irrational-Man-Study-Existential-Philosophy\/dp\/0385031386\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Irrational Man: A Study in Existential Philosophy by William Barrett | Amazon<\/a><\/li>\n<li><a href=\"https:\/\/www.amazon.com\/Catch-22-Joseph-Heller\/dp\/0099470462\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Catch-22 by Joseph Heller | Amazon<\/a><\/li>\n<li><a href=\"http:\/\/scripting.com\/2019\/08\/14\/174016.html\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Kurt Vonnegut\u2019s Remembrance of Joseph Heller in The New Yorker | Scripting News<\/a><\/li>\n<li><a href=\"https:\/\/dailystoic.com\/what-is-stoicism-a-definition-3-stoic-exercises-to-get-you-started\/#all-ephemeral\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">What Is Stoicism? A Definition &amp; 9 Stoic Exercises To Get You Started | Daily Stoic<\/a><\/li>\n<li><a href=\"https:\/\/www.edge.org\/3rd_culture\/taleb05\/taleb05_index.html\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Opiates of the Middle Classes by Nassim Taleb | Edge<\/a><\/li>\n<li><a href=\"https:\/\/plato.stanford.edu\/entries\/skepticism\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Skepticism | Stanford Encyclopedia of Philosophy<\/a><\/li>\n<li><a href=\"https:\/\/www.weforum.org\/agenda\/2023\/03\/polycrisis-adam-tooze-historian-explains\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">We\u2019re in a \u2018Polycrisis\u2019 \u2014 A Historian Explains What That Means | World Economic Forum<\/a><\/li>\n<li><a href=\"https:\/\/en.wikipedia.org\/wiki\/Precautionary_principle\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Precautionary Principle | Wikipedia<\/a><\/li>\n<li><a href=\"https:\/\/necsi.edu\/the-precautionary-principle\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Precautionary Principle | New England Complex Systems Institute<\/a><\/li>\n<li><a href=\"https:\/\/atlasgeographica.com\/the-precautionary-principle-explained\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Precautionary Principle Explained by Nassim Taleb | Atlas Geographica<\/a><\/li>\n<li><a href=\"https:\/\/www.fool.com\/investing\/general\/2014\/03\/09\/is-nassim-taleb-right-about-monsanto-company-and-g.aspx\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Is Nassim Taleb Right About Monsanto Company and GMOs? | The Motley Fool<\/a><\/li>\n<li><a href=\"https:\/\/coffeeandjunk.com\/mediocristan-extremistan\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Mediocristan and Extremistan: The Two Categories of Random Events | Coffee and Junk<\/a><\/li>\n<li><a href=\"https:\/\/www.americanscientist.org\/article\/fat-tails#:~:text=The%20classic%20fat%2Dtailed%20distribution,the%20distribution%20does%20not%20exist.\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Fat Tails | American Scientist<\/a><\/li>\n<li><a href=\"https:\/\/arxiv.org\/ftp\/arxiv\/papers\/1307\/1307.6695.pdf\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Where Do Thin Tails Come From? by Nassim N. Taleb | arXiv: Risk Management<\/a><\/li>\n<li><a href=\"https:\/\/www.poynter.org\/fact-checking\/2020\/on-fox-news-dr-phil-said-360000-americans-die-in-swimming-pools-every-year-hes-wrong-by-magnitudes\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">On Fox News, Dr. Phil Said 360,000 Americans Die in Swimming Pools Every Year. He\u2019s Wrong by Magnitudes. | Poynter<\/a><\/li>\n<li><a href=\"https:\/\/twitter.com\/nntaleb\/status\/1251108127279321093\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">RE: Drowning in Swimming Pools | Nassim Nicholas Taleb, Twitter<\/a><\/li>\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=gAlHjWctpLw\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Mini Lecture 12: How to Look at the Risks of COVID Vaccines | N.N. Taleb\u2019s Probability Moocs<\/a><\/li>\n<li><a href=\"https:\/\/time.com\/after-the-bomb\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">After The Bomb: Survivors of Hiroshima and Nagasaki Share Their Stories | Time<\/a><\/li>\n<li><a href=\"https:\/\/www.healthline.com\/health\/kuru\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Kuru: Causes, Symptoms, and Diagnosis | Healthline<\/a><\/li>\n<li><a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/the-monsanto-saga-and-launch-of-toxic\/id1534737585?i=1000602071210\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Monsanto Saga and Launch of \u201cToxic Exposure\u201d with Nassim Nicholas Taleb | Healthcare Unfiltered<\/a><\/li>\n<li><a href=\"https:\/\/www.nytimes.com\/2015\/07\/14\/business\/dealbook\/another-too-big-to-fail-system-in-gmos.html\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Another \u2018Too Big to Fail\u2019 System in GMOs | The New York Times<\/a><\/li>\n<li><a href=\"https:\/\/www.cfr.org\/report\/regulation-gmos-europe-and-united-states\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Regulation of GMOs in Europe and the United States | Council on Foreign Relations<\/a><\/li>\n<li><a href=\"https:\/\/www.reuters.com\/article\/uk-health-monsanto-glyphosate-analysis\/analysis-mixed-message-on-weed-killer-reflects-reality-of-scientific-uncertainty-idUKKCN0T61QH20151117\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Analysis: Mixed Message on Weed-Killer Reflects Reality of Scientific Uncertainty | Reuters<\/a><\/li>\n<li><a href=\"https:\/\/vimeo.com\/6417531\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">David Cameron in Conversation with Nassim Taleb | RSA<\/a><\/li>\n<li><a href=\"http:\/\/debateon.weebly.com\/karl-popper-debate.html\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Karl Popper Debate | BC Forensic League Society<\/a><\/li>\n<li><a href=\"https:\/\/history.stackexchange.com\/questions\/23785\/what-did-richelieu-mean-by-his-six-lines-quote\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">What Did Richelieu Mean by His \u201cSix Lines\u201d Quote? | History Stack Exchange<\/a><\/li>\n<li><a href=\"https:\/\/www.chemicalsafetyfacts.org\/health-and-safety\/the-dose-makes-the-poison\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">\u201cThe Dose Makes the Poison.\u201d | Chemical Safety Facts<\/a><\/li>\n<li><a href=\"https:\/\/www.edge.org\/conversation\/nassim_nicholas_taleb-understanding-is-a-poor-substitute-for-convexity-antifragility\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Understanding is a Poor Substitute for Convexity (Antifragility) by Nassim Nicholas Taleb | Edge<\/a><\/li>\n<li><a href=\"https:\/\/www.americanprogress.org\/article\/7-things-you-need-to-know-about-fannie-mae-and-freddie-mac\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Seven Things You Need to Know About Fannie Mae and Freddie Mac | Center for American Progress<\/a><\/li>\n<li><a href=\"https:\/\/www.investopedia.com\/terms\/p\/plaza-accord.asp\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Plaza Accord: Definition, History, Purpose, and Its Replacement | Investopedia<\/a><\/li>\n<li><a href=\"https:\/\/www.investopedia.com\/terms\/p\/plstatement.asp\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Profit and Loss Statement (P&amp;L) | Investopedia<\/a><\/li>\n<li><a href=\"https:\/\/www.newyorker.com\/magazine\/2007\/10\/15\/the-blow-up-artist\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Blow-Up Artist | The New Yorker<\/a><\/li>\n<li><a href=\"https:\/\/www.investopedia.com\/ask\/answers\/08\/george-soros-bank-of-england.asp\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">How Did George Soros Break the Bank of England? | Investopedia<\/a><\/li>\n<li><a href=\"https:\/\/www.bloomberg.com\/professional\/blog\/fat-tails-ellipticality-and-diversification\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Fat Tails, Ellipticality, and Diversification | Bloomberg Professional Services<\/a><\/li>\n<li><a href=\"http:\/\/www.mrglobalization.com\/globalisation\/84-is-globalization-a-black-swan\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Is Globalization a Black Swan? | Mr. Globalization<\/a><\/li>\n<li><a href=\"https:\/\/www.bbc.com\/news\/business-32028693\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">How Lee Kuan Yew Engineered Singapore\u2019s Economic Miracle | BBC News<\/a><\/li>\n<li><a href=\"https:\/\/en.wikipedia.org\/wiki\/Soviet_influence_on_the_peace_movement\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Soviet Influence on the Peace Movement | Wikipedia<\/a><\/li>\n<li><a href=\"https:\/\/www.cleanenergywire.org\/factsheets\/history-behind-germanys-nuclear-phase-out\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The History behind Germany\u2019s Nuclear Phase-Out | Clean Energy Wire<\/a><\/li>\n<li><a href=\"https:\/\/thebreakthrough.org\/journal\/no-18-fall-2022\/the-source-of-germanys-nuclear-aversion\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Source of Germany\u2019s Nuclear Aversion | The Breakthrough Institute<\/a><\/li>\n<li><a href=\"https:\/\/ifrf.net\/ifrf-blog\/lessons-and-doubts-from-the-chernobyl-disaster\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Lessons and Doubts from the Chernobyl Disaster | IFRF<\/a><\/li>\n<li><a href=\"https:\/\/www.investopedia.com\/investing\/hedge-funds-financial-crisis-boom-bust\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Hedge Funds Since the Financial Crisis: From Boom to Bust | Investopedia<\/a><\/li>\n<li><a href=\"https:\/\/www.ft.com\/content\/7a4fc077-0d70-4343-9b0c-4c2f588f3d7a\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">US Regulator Calls for Greater Scrutiny of Hedge Funds after Bond Turmoil | Financial Times<\/a><\/li>\n<li><a href=\"https:\/\/www.barrons.com\/articles\/federal-reserve-bailout-financial-crisis-long-term-capital-management-too-big-to-fail-1bba5684\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Tale of the Fed and Long-Term Capital Management | Barron\u2019s<\/a><\/li>\n<li><a href=\"https:\/\/www.linkedin.com\/pulse\/how-tech-startups-behaving-new-age-ponzi-schemes-kirti-dixit\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">How Tech Startups Have Behaved as New Age Ponzi Schemes by Kirti Dixit | LinkedIn<\/a><\/li>\n<li><a href=\"https:\/\/www.mdpi.com\/1099-4300\/25\/2\/343\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Working with Convex Responses: Antifragility from Finance to Oncology | Entropy<\/a><\/li>\n<li><a href=\"https:\/\/www.health.harvard.edu\/blog\/heart-rate-variability-new-way-track-well-2017112212789\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Heart Rate Variability: A New Way to Track Well-Being | Harvard Health<\/a><\/li>\n<li><a href=\"https:\/\/www.healthline.com\/nutrition\/intermittent-fasting-guide\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Intermittent Fasting 101 \u2014 The Ultimate Beginner\u2019s Guide | Healthline<\/a><\/li>\n<li><a href=\"https:\/\/acataleptico.files.wordpress.com\/2019\/05\/principia_politicasep2019.pdf\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Principia Politica Third Draft | Nassim Nicholas Taleb<\/a><\/li>\n<li><a href=\"https:\/\/www.benzinga.com\/news\/23\/02\/30797752\/does-black-swan-author-think-chatgpt-is-an-idiot-confirms-my-idea-of-verbalism\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Does \u2018Black Swan\u2019 Author Taleb Think ChatGPT Is An Idiot? | Benzinga<\/a><\/li>\n<li><a href=\"https:\/\/www.myjewishlearning.com\/article\/talmud-101\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">What Is the Talmud? | My Jewish Learning<\/a><\/li>\n<li><a href=\"https:\/\/www.jewishvirtuallibrary.org\/aramaic\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Ancient Jewish History: Aramaic | Jewish Virtual Library<\/a><\/li>\n<li><a href=\"https:\/\/www.newadvent.org\/summa\/1013.htm\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Summa Theologi\u00e6 of St. Thomas Aquinas | New Advent<\/a><\/li>\n<li><a href=\"https:\/\/www.wsj.com\/articles\/the-professor-helping-guide-billions-in-climate-spending-96d3d17c\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Professor Helping Guide Billions in Climate Spending | WSJ<\/a><\/li>\n<li><a href=\"https:\/\/www.audubon.org\/news\/12-ways-inflation-reduction-act-will-benefit-birds-and-people\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">12 Ways the Inflation Reduction Act Will Benefit Birds and People | Audubon<\/a><\/li>\n<li><a href=\"https:\/\/www.theguardian.com\/environment\/2023\/feb\/22\/climate-spending-republican-states-clean-energy-funding\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Republicans in the US \u2018Battery Belt\u2019 Embrace Biden\u2019s Climate Spending | The Guardian<\/a><\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">SHOW NOTES<\/h3>\n<p><em>Editor\u2019s Note: Timestamps will be added shortly<\/em><\/p>\n<ul>\n<li>How Scott and Nassim first connected.<\/li>\n<li>Why Nassim would rather be remembered as a scholar than a trader.<\/li>\n<li>You can\u2019t forge a new friendship without breaking a few eggs.<\/li>\n<li>Silent risk, tail events, and one-trick ponies.<\/li>\n<li>What prompted Scott to write <em>Chaos Kings<\/em>?<\/li>\n<li>Pseudo-efficiency, pseudo-optimization, and pseudo-sorries.<\/li>\n<li>The joy of writing a preemptive resignation letter.<\/li>\n<li>Developing resilience against criticism.<\/li>\n<li>Recurring patterns in successful investors.<\/li>\n<li>Nassim: contrarian, or simply independent?<\/li>\n<li>Jiving with skeptical turkeys.<\/li>\n<li>Living in the polycrisis.<\/li>\n<li>The precautionary principle.<\/li>\n<li>Fat tails, thin tails, and the COVID vaccine.<\/li>\n<li>GMO risks and Monsanto intimidation tactics.<\/li>\n<li>Implementing the precautionary principle at a large scale.<\/li>\n<li>Uncertainty and the climate crisis.<\/li>\n<li>Convexity in the face of financial crisis.<\/li>\n<li>Are investors overpowered in an interconnected world?<\/li>\n<li>Utilizing the precaution principle in the real world (for better <em>and<\/em> worse).<\/li>\n<li>The flow-on effect of having skin in the game.<\/li>\n<li>The ponzification of startups and an overdue reckoning.<\/li>\n<li>What convexity at the center of all things conveys.<\/li>\n<li>Where to find Scott and Nassim.<\/li>\n<li>What Nassim is working on now.<\/li>\n<li>New insights from ancient words.<\/li>\n<li>Parting thoughts.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">MORE QUOTES FROM THE INTERVIEW<\/h3>\n<p><strong>\u201cOn my grave, I don\u2019t want to be known as a trader, but as a scholar.\u201d<\/strong><\/p>\n<p>\u2014 Nassim Nicholas Taleb<\/p>\n<p><strong>\u201cIf you must panic, panic early.\u201d<\/strong><\/p>\n<p>\u2014 Nassim Nicholas Taleb<\/p>\n<p><strong>\u201cUncertainty is actually a reason for precaution rather than just throwing caution to the wind and just saying, \u2018Well, we don\u2019t know, so what the hell? Let\u2019s just keep going.&#8217;\u201d<\/strong><\/p>\n<p>\u2014 Scott Patterson<\/p>\n<p><strong>\u201cIt\u2019s what I call pseudo-optimization: If you drive a Ferrari 500 kilometers per hour, you\u2019re not going to get there faster than if you ride a bicycle, because obviously you\u2019re never going to get there.\u201d<\/strong><\/p>\n<p>\u2014 Nassim Nicholas Taleb<\/p>\n<p><strong>\u201cI came into Wall Street and started reading about how there\u2019s this belief that people are irrational and the markets are rational and they are predictable because of this. And I thought that is just crazy. To me, I look at financial markets and I see black swans, I see fear and greed. That to me is what drives markets, not rational behavior, rational expectations.\u201d<\/strong><\/p>\n<p>\u2014 Scott Patterson<\/p>\n<h3 class=\"wp-block-heading\">PEOPLE MENTIONED<\/h3>\n<p><h3 class=\"jp-relatedposts-headline\"><em>Related and Recommended<\/em><\/h3>\n<\/p>\n<p><em><a href=\"https:\/\/tim.blog\/podcast\"><strong>The Tim Ferriss Show<\/strong><\/a> <\/em><span>is one <\/span>of the most popular podcasts in the world with more than 900 million downloads. It has been selected for &#8220;Best of Apple Podcasts&#8221; three times, it is often the #1 interview podcast across all of Apple Podcasts, and it&#8217;s been ranked #1 out of 400,000+ podcasts on many occasions. To listen to any of the past episodes for free, check out <strong><a href=\"https:\/\/tim.blog\/podcast\">this page<\/a><\/strong>.<\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/hop.clickbank.net\/?affiliate=infohatch&amp;vendor=J1R2C\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-10614 aligncenter\" src=\"http:\/\/parmaks.com\/Resources\/wp-content\/uploads\/2025\/05\/profit-gen400px.png\" alt=\"Profit Gen\" width=\"400\" height=\"217\" srcset=\"https:\/\/parmaks.com\/Resources\/wp-content\/uploads\/2025\/05\/profit-gen400px.png 400w, https:\/\/parmaks.com\/Resources\/wp-content\/uploads\/2025\/05\/profit-gen400px-300x163.png 300w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a><br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Illustration via 99designs \u201cIf you must panic, panic early.\u201d \u2014 Nassim Nicholas Taleb \u201cUncertainty is actually a reason for precaution rather than just throwing caution [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4079,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-4078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-growth"],"_links":{"self":[{"href":"https:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/posts\/4078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/comments?post=4078"}],"version-history":[{"count":0,"href":"https:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/posts\/4078\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/media\/4079"}],"wp:attachment":[{"href":"https:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/media?parent=4078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/categories?post=4078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/tags?post=4078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}