Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets

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Random House Publishing Group, Oct 14, 2008 - Business & Economics - 368 pages
29 Reviews
Fooled by Randomness is a standalone book in Nassim Nicholas Taleb’s landmark Incerto series, an investigation of opacity, luck, uncertainty, probability, human error, risk, and decision-making in a world we don’t understand. The other books in the series are The Black Swan, Antifragile, and The Bed of Procrustes.

“[Taleb is] Wall Street’s principal dissident. . . . [Fooled By Randomness] is to conventional Wall Street wisdom approximately what Martin Luther’s ninety-nine theses were to the Catholic Church.”
Malcolm Gladwell, The New Yorker

Finally in paperback, the word-of-mouth sensation that will change the way you think about the markets and the world.This book is about luck: more precisely how we perceive luck in our personal and professional experiences.

Set against the backdrop of the most conspicuous forum in which luck is mistaken for skill–the world of business–Fooled by Randomness is an irreverent, iconoclastic, eye-opening, and endlessly entertaining exploration of one of the least understood forces in all of our lives.


From the Trade Paperback edition.
 

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LibraryThing Review

User Review  - StanleyPhang - LibraryThing

A Great Read. Makes you truly wonder how anyone survive in this day and age relying on a hunk of meat programmed for the savanna. Alas, fallible humans, overflowing with biases. Read full review

LibraryThing Review

User Review  - joeydag - LibraryThing

Never boring, but sometimes a bit obtuse. I got the impression that he admits in this book that he does want to enlighten but not to enlighten everybody. In this book I do enjoy his comment that math is for meditation not for computation. Read full review

Contents

Two A BIZARRE ACCOUNTING METHOD
22
SOME ARCHITECTURAL
27
Three A MATHE MATICAL MEDITATION
43
Six SKEWNESS AND ASYMMETRY
97
Seven THE PROBLEM OF INDUCTION
116
T DEPENDS ON THE NUMBER OF MON KEYS 156
137
Nine IT IS EASIER TO BUY AND SELL
149
BEWARE THE p HLOSOPHER BUREAUCRAT
185
AM NOT SO INTELLIGENT
222
THE SKINNER plg EON EXPER MENT
229
CAR NEADES COMES TO ROME 255
237
BAC CHUS ABAND ONS ANTONY
245
Postscript THREE AFTERTHouGHTS IN
253
Acknowledgments for the First Edition
263
Notes
269
References
295

WHY WE DONT MARRY THE FIRST DATE
197
PROBABILITIES AND THE MEDIA
211

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About the author (2008)

Nassim Nicholas Taleb has devoted his life to problems of uncertainty, probability, and knowledge. He spent nearly two decades as a businessman and quantitative trader before becoming a full-time philosophical essayist and academic researcher in 2006. Although he spends most of his time in the intense seclusion of his study, or as a flâneur meditating in cafés, he is currently Distinguished Professor of Risk Engineering at New York University’s Polytechnic Institute. His main subject matter is “decision making under opacity”—that is, a map and a protocol on how we should live in a world we don’t understand.
 
Taleb’s books have been published in thirty-three languages.


From the Hardcover edition.

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