A Quote by Nassim Nicholas Taleb
In economic life and history more generally, just about everything of consequence comes from black swans; ordinary events have paltry effects in the long term.
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For it is in the millions of small melodies that the truth of history is always found, for history only matters because of the effects we see or imagine in the lives of the ordinary people who are caught up in, or give shape to, the great events.
Revolutions just spread blood. Evolution - this is something that changes in the long term. Because history is long term. But today, we don't talk about history. The past is two weeks ago, and the future is two weeks after.
I hate the term 'black' because it doesn't bring to life who we are as a people. The term 'black' has more negative synonyms than the term white.
Medical thinking usually sees stress as highly disturbing but isolated events such as, for example, sudden unemployment, a marriage breakup, or the death of a loved one. These major events are potent sources of stress for many, but there are chronic daily stresses in people's lives that are more insidious and more harmful in their long-term biological consequences. Internally generated stresses take their toll without in any way seeming out of the ordinary.
Black History is enjoying the life of our ancestors who paved the way for every African-American. No matter what color you are, the history of Blacks affected everyone; that's why we should cherish and respect Black history. Black history changed America and is continuing to change and shape our country. Black history is about everyone coming together to better themselves and America. Black history is being comfortable in your own skin no matter what color you are. Black history makes me proud of where I came from and where I am going in life.
In the stock market (as in much of life), the beginning of wisdom is admitting your ignorance. One of the many things you cannot know about stocks is exactly when they will up or go down. Over the long term, stocks generally rise at a nice pace. History shows they double in value every seven years or so. But in the short term, stocks are just plain wild. Over periods of days, weeks and months, no one has any idea what they will do. Still, nearly all investors think they are smart enough to divine such short-term movements. This hubris frequently gets them into trouble.
No number of sightings of white swans can prove the theory that all swans are white. The sighting of just one black one may disprove it.
The most important thing that a company can do in the midst of this economic turmoil is to not lose sight of the long-term perspective. Don't confuse the short-term crises with the long-term trends. Amidst all of these short-term change are some fundamental structural transformations happening in the economy, and the best way to stay in business is to not allow the short-term distractions to cause you to ignore what is happening in the long term.
What is working in the economy is a natural comeback plus some effects of the policies we've been following. But I'm sort of worried about the long term effects.
Educate yourself, take the time to find out what is in a bill and how it will effect everything, and not just how it effects you in the short term, but what the long term consequences of a bill, law or legislations will have an everyone and every community, altimetry effecting you!
More and more people realize the importance of economic growth, near-term and long-term in the U.S., and the competitiveness with other countries around the world.
As the story about CTE got more real, it became more clear that players are playing that without a full understanding of the risks they face, and the long-term effects.
The economic interpretation of history does not necessarily mean that all events are determined solely by economic forces. It simply means that economic facts are the ever recurring decisive forces, the chief points in the process of history.
Sometimes it's about the economic situation and sometimes it's about the fear of others. Sometimes it's about protecting the generally accepted values. If you look at history, history is just a succession of people meeting other people, either through commerce, voyages or wars.
Black-Scholes works for short-term options, but if it's a long-term option and you think you know something [about the underlying asset], it's insane to use Black-Scholes.
Oral history is a research method. It is a way of conducting long, highly detailed interviews with people about their life experiences, often in multiple interview sessions. Oral history allows the person being interviewed to use their own language to talk about events in their life and the method is used by researchers in different fields like history, anthropology and sociology.
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