“The central idea in The Black Swan is that: rare events cannot be estimated from empirical observation since they are rare.”
– Nassim Nicholas Taleb
“If you invest and don’t diversify, you’re literally throwing out money. People don’t realize that diversification is beneficial even if it reduces your return. Why? Because it reduces your risk even more. Therefore, if you diversify and then use margin to increase your leverage to a risk level equivalent to that of a nondiversified position, your return will probably be greater.” – Jeff Yass
