The longer-term the option, the sillier the results generated by the Black-Scholes option pricing model, and the greater … - Michael Lewis

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October is the fallen leaf, but it is also a wider horizon more clearly seen.

Michael Lewis

The longer-term the option, the sillier the results generated by the Black-Scholes option pricing model, and the greater the opportunity for people who didn't use it.

Black, Generated, Opportunity, People, Use

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The pleasure of rooting for Goliath is that you can expect to win. The pleasure of rooting for David is that, while you don’t know what to expect, you stand at least a chance of being inspired.

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People don't like uncertainty, and their minds are tools for making sense of the world, even when the world is senseless.

Like, Mind, People, Tools, World

We aren't natural statisticians. What we are is natural storytelling machines. And so what we do after we have the facts in hand is build a story to explain the facts.

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the lesson of Buffett was: To succeed in a spectacular fashion you had to be spectacularly unusual.

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As idiotic as optimism can sometimes seem, it has a weird habit of paying off.

Habit, Optimism, Paying, Sometimes, Weird

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Hal Borland

October is the fallen leaf, but it is also a wider horizon more clearly seen.

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Joyce Carol Oates

One of life's minor satisfactions is forgetting.

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Jean-Baptiste Lamarck

The thesis that the living creatures have always been composed different species was established in a time where no sufficient observations had been made and when science hardly existed. This thesis is denied every day by those who have made accurate observations, who have long time observed nature and who have had the benefit from studying our musei's large and rich collections.

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David Deutsch

If you reject the infinite, you are stuck with the finite, and the finite is parochial. . . the best explanation of anything eventually involves universality, and therefore infinity. The reach of explanations cannot be limited by fiat.

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George Bernard Shaw

Build a system that even a fool can use, and only a fool will want to use it.

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