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For reasons mathematical, psychological, and sociological, it is a good idea to use a money management system that is relatively forgiving of estimation errors.

— William Poundstone Fortune's Formula (2005)

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More quotes by William Poundstone

Use "entropy" and you can never lose a debate, von Neumann told Shannon - because no one really knows what "entropy" is.

Fortune's Formula (2005)

The ultimate compound return rate is acutely sensitive to fat tails.

Fortune's Formula (2005)

The assumption that anything true is knowable is the grandfather of paradoxes.

Labyrinths of Reason (1988)

The best paradoxes raise questions about what kinds of contradictions can occur—what species of impossibilities are possible.

Labyrinths of Reason (1988)

Your second ducat, like your second million, is never quite as sweet.

Fortune's Formula (2005)

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Men accept servility in order to acquire wealth; as if they could acquire anything of their own when they cannot even assert that they belong to themselves.

Étienne de La Boétie Discourse on Voluntary Servitude (1548)

Health is the greatest gift, contentment is the greatest wealth, a trusted friend is the best relative, Nibbana is the greatest bliss.

Gautama Buddha

Opulence is always the result of theft, if not committed by the actual possessor, then by his predecessor.

Jerome The Cry for Justice (1915)

Bourgeois society is ruled by equivalence. It makes the dissimilar comparable by reducing it to abstract quantities. To the Enlightenment, that which does not reduce to numbers, and ultimately to the one, becomes illusion.

Max Horkheimer Dialektik der Aufklärung [Dialectic of Enlightenment (1944)

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Quote text and notes from Wikiquote: William Poundstone (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.