Forecasting vs Speculation

Forecasting (in words) bears no relation to speculation (in deeds).

Nassim Taleb

Author of Skin in The Game

How a person acts when his assets are at risk is a much better predictor of what they think than what advise they give to others. I’m reminded of my friends who favor spending vast sums on public transport systems but still depend on their cars for all their own transportation needs.

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