"Banks hire dull people and train them to be even more dull. If they look conservative, it’s only because their loans go bust on rare, very rare occasions. But (…)bankers are not conservative at all. They are just phenomenally skilled at self-deception by burying the possibility of a large, devastating loss under the rug."
-Nassim Nicholas Taleb, from The Black Swan
If you are an active trader and have not read The Black Swan and Taleb's other book, Fooled by Randmoness, you are at a huge competitive disadvantage against traders that have. If you have not made money in this bear market it is because you have not read two of the most transformational books on chance (but more importantly life and investing).
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