Not everything that can be counted counts, and not everything that counts can be counted. --- Albert Einstein
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"Just as a man working with his tools should know its limitations, a man working with his cognitive apparatus must know its limitations"--
Charlie Munger.
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Amos Tversky: “It’s frightening to think that you might not know something, but more frightening to think that, by and large, the world is run by people who have faith that they know exactly what’s going on.”
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"Just as a man working with his tools should know its limitations, a man working with his cognitive apparatus must know its limitations"--
Charlie Munger.
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"I'd put my money on the sun and solar energy. What a source of power! I hope we don't have to wait until oil and coal run out before we tackle that." --- Thomas Edison
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"Just as a man working with his tools should know its limitations, a man working with his cognitive apparatus must know its limitations"--
Charlie Munger.
The administrator has disabled public write access.
"Mathematics is automatically considered as producing precise and dependable results. But in the stock market, the more elaborate and abstruse the mathematics, the more uncertain and speculative the conclusions we draw therefrom. Whenever calculus is brought in or higher algebra, you can take it as a warning signal the operator is trying to substitute theory for experience and usually also to give speculation the deceptive guise of investment." --- Benjamin Graham
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"Just as a man working with his tools should know its limitations, a man working with his cognitive apparatus must know its limitations"--
Charlie Munger.
The administrator has disabled public write access.
Mathematicians and others are endeavoring to apply insights gleaned from the sciences of complexity to the seemingly intractable problem of understanding the world economy. I have a guess, however, that if this problem can be solved (and that is unlikely in the near future), then it will not be possible to use this knowledge to make money on financial markets. One can make money only if there is real risk based on actual uncertainty, and without uncertainty there is no risk. --- Dreams of Reason: The Rise of the Sciences of Complexity
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"Just as a man working with his tools should know its limitations, a man working with his cognitive apparatus must know its limitations"--
Charlie Munger.
The administrator has disabled public write access.