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Binding: PaperbackDewey Decimal Number: 123.3 EAN: 9780812975215 Edition: 2 Updated ISBN: 0812975219 Label: Random House Trade Paperbacks Manufacturer: Random House Trade Paperbacks Number Of Items: 1 Number Of Pages: 368 Publication Date: August 23, 2005 Publisher: Random House Trade Paperbacks Release Date: August 23, 2005 Studio: Random House Trade Paperbacks Editorial Review: Amazon.com Review: 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 Product Description: “[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. Average Rating:
 Rating:  - one of the "bestest" book everThis book is definitely one of the best books ever...I claim to be a mathematician somewhat having gained straight A's in pure and applied mathematics and advanced mathematics with (a boring) engineering degree at a number of UK univerisities, and after years of dabbling in options trading and having experienced first hand; Black Monday (black swan?), the Asian Economic Crisis, living in the epicentre of SARS (lucky to avoid it), and being in this market whilst we have one of the greatest financial ... Read More Rating: - An insightful view of lifeSome years ago, I had a colleague who organized a Mark 6 pool among friends. They had a database of previous Mark 6 results and from it derived that some numbers were more easily drawn than others. They then collectively bet on such numbers which they believed would have a higher probability of winning. I asked him the basis of his action. He explained that the fact some numbers appeared more frequently was real as proven by the statistics. The reason could be the material of the paint of different ... Read More Rating: - Methods of thinking and mental models worth learningEvery once in a while, someone really intelligent focuses his thoughts on the most valuable skill a human can have--how to think. Nassim Taleb has done an admirable job at just that: not telling us what to think--but showing us how to think in ways we can apply to innumerable life situations. I'm talking about what Charlie Munger refers to as "multiple mental models." The most important ideas explored are those of Popper--the idea of the open society--one in which no theory is known with ... Read More Rating: - An Insightful RantThis book reads a lot like a self-absorbed blogger's rant, but it is a rant that is highly satisfying to read. Almost all of us have a distant relative or friend who is allegedly a "stock market genius". Taleb argues that it is usually hard to know whether that person is truly skilled or just lucky. He argues that most often trading success is either the result of ones arbitrary trading style happening to jibe with market conditions or a product of exposure to volatility in a way that allows for small regular ... Read More Rating:  - An exercise in self-justificationOne of the most self-congratulatory, didactic books I've ever read. Taleb is a convinced ideologue whose expertise in stock trading has created the conviction that he sees the invisible hand at work. He constantly reminds the reader that he is writing, restating and recasting sections with a reference to his earlier statements (never trust a writer that quotes himself) while dismissing whole schools of thought by selectively quoting from philosophers to make them look silly and misguided--if you ... Read More |
