{"id":33617,"date":"2018-04-21T11:27:39","date_gmt":"2018-04-21T16:27:39","guid":{"rendered":"http:\/\/olduvai.ca\/?p=33617"},"modified":"2018-04-21T11:27:39","modified_gmt":"2018-04-21T16:27:39","slug":"nassim-nicholas-taleb-has-never-borrowed-a-cent-in-his-life","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=33617","title":{"rendered":"Nassim Nicholas Taleb Has Never Borrowed a Cent in His Life"},"content":{"rendered":"
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Nassim Nicholas Taleb Has Never Borrowed a Cent in His Life<\/a><\/h3>\n

The author of The Black Swan<\/em> and Skin in the Game<\/em> on what it’s like to have true financial freedom.<\/p>\n<\/div>\n<\/header>\n

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Redux<\/span><\/div>\n<\/div>\n
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People ask me my forecast<\/strong> for the economy when they should be asking me what I have in my portfolio. Don\u2019t make pronouncements on what could happen in the future if you\u2019re immune from the consequences. In French, they use the same word for wallet and portfolio.<\/p>\n

I have never, ever borrowed a penny.<\/strong> So I have zero credit record. No loans, no mortgage, nothing. Ever. When I had no money, I rented. I have an allergy to borrowing and a scorn for people who are in debt, and I don\u2019t hide it. I follow the Romans\u2019 attitude that debtors are not free people.<\/p>\n

I carry euros, dollars, and British pounds. <\/strong>What I do with my money is personal. People who say they give it to charity, that\u2019s a no-no in my book. Nobody should ever talk about a charitable act in public.<\/p>\n

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I FOLLOW THE ROMANS\u2019 ATTITUDE THAT DEBTORS ARE NOT FREE PEOPLE.<\/p><\/blockquote>\n<\/div>\n<\/div>\n

Better to miss a zillion opportunities than blow up once.<\/strong> I learned this at my first job, from the veteran traders at a New York bank that no longer exists. Most people don\u2019t understand how to handle uncertainty. They shy away from small risks, and without realizing it, they embrace the big, big risk. Businessmen who are consistently successful have the exact opposite attitude: Make all the mistakes you want, just make sure you\u2019re going to be there tomorrow.<\/p>\n

Don\u2019t invest any energy in bargaining<\/strong> except when the zeros become large. Lose the small games and save your efforts for the big ones.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Nassim Nicholas Taleb Has Never Borrowed a Cent in His Life The author of The Black Swan and Skin in the Game on what it’s like to have true financial freedom. Redux People ask me my forecast for the economy when they should be asking me what I have in my portfolio. Don\u2019t make pronouncements […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[19878,195,19879,6448,7248],"class_list":["post-33617","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-adrienne-westenfeld","tag-debt","tag-esquire","tag-financial-freedom","tag-nassim-taleb"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33617"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33617\/revisions"}],"predecessor-version":[{"id":33618,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33617\/revisions\/33618"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}