Fooled by Randomness
Fooled by Randomness: The Hidden Role of Chance in the Markets and in Life, First Edition Nassim Nicholas Taleb,
Publisher: W. W. Norton & Company
ISBN: 1587990717
Edition: Hardcover; 2001-10
Summary:
If the prescriptions for getting rich that are outlined in books such
as The Millionaire Next Door and Rich Dad Poor Dad are successful
enough to make the books bestsellers, then one must ask, Why aren't
there more millionaires? In Fooled by Randomness, Nassim Nicholas
Taleb, a professional trader and mathematics professor, examines what
randomness means in business and in life and why human beings are so
prone to mistake dumb luck for consummate skill. This eccentric and
highly personal exploration of the nature of randomness meanders from
the court of Croesus and trading rooms in New York and London to
Russian roulette, Monte Carlo engines, and the philosophy of Karl
Popper. Part of what makes this book so good is Taleb's ability to
make seemingly arcane mathematical concepts (at least to this
reviewer) entirely relevant in evaluating and understanding
everything from the stock market to the success of those millionaires
cited in the aforementioned bestsellers. Here's an articulate, wise,
and humorous meditation on the nature of success and failure that
anyone who wants a little more of the former would do well to
consider. Highly recommended. --Harry C. Edwards
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