Samuelson, however, hedged his personal bets - by putting some of his own money in Berkshire Hathaway.

Expectation is a statistical fiction, like having 2.5 children.

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

The more improbable the message, the less "compressible" it is, and the more bandwidth it requires. This is Shannon's point: the essence is its improbability.

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

The best strategy is one that offers the highest compound return consistent with no risk of going broke.

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

In real conversations, we are always trying to outguess each other.

The story of the Kelly system is a story of secrets - or if you prefer, a story of entropy.

A bit is worth 10,000 basis points.

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

Nothing exists that is more valuable than time

The narrowness of mind is the biggest handicap for innovation.

The three-part whats to winning: 1. What you have. 2. What you need.3. What you believe.

Talking is nothing. Doing is something.

Born with a silver spoon in his mouth, he was going out with a rifle in his hand.

I keep my campaign promises, but I never promised to wear stockings.

Behind this judicial wall of separation there is a tyranny of lies that will fall... I say to you, my friends, let it fall!

A gem of a short film has a sense of pure joy in animation that is different from anything you see in a feature film.

The stock market and economy are two different things.

Whether something is called art is beside the point. What counts is what happens when you ask it to actually be art.