Nobody reads the disclosures that roll down your computer screen. You click 'I agree' but you don't know what you're agreeing to.
Nassim Nicholas TalebRead
Banking is a very treacherous business because you don't realize it is risky until it is too late. It is like calm waters that deliver huge storms.
Interpretation
What this quote means
Banking can seem safe until hidden risks lead to significant consequences.
Nassim Nicholas Taleb uses this quote to illustrate the deceptive nature of the banking industry, where the calmness and stability often mask underlying risks. Just as serene waters can conceal dangerous storms, banking practices can appear secure until unforeseen events trigger crises, highlighting the importance of recognizing and preparing for potential dangers in seemingly stable systems.
Themes
BankingRiskFinanceStormBusiness
In practice
Example use cases
In a financial seminar discussing risk management strategies.
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