Fooled by Randomness

Name: Fooled by Randomness
Brand: Penguin Books Ltd
SKU: 9780141031484
Price: 30.0 NZD
Availability: InStock

The Hidden Role of Chance in Life and in the Markets

By Nassim Nicholas Taleb

4.08

( 66,388 ratings, 3,260 reviews)

Summary

Fooled by Randomness by Nassim Nicholas Taleb explores the impact of randomness and uncertainty on our lives and delves into the misconceptions humans have about probability and risk. Taleb illustrates how we often mistake luck for skill, leading to erroneous conclusions about success and failure. The book combines anecdotes, philosophical reflections, and an analysis of human behaviour to challenge conventional thinking about chance.
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Format: Paperback / softback

$30⁰⁰

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Fooled by Randomness

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Book Hero Magic created this recommendation. While it's new and still learning, it may not be perfect - your feedback is welcome! IS THIS YOUR NEXT READ?

This book may appeal to you if you're intrigued by the hidden role of chance in life and want to understand how randomness influences financial markets and daily events. Taleb's engaging writing explores the limitations of human knowledge and the impact of unpredictability.

Fooled by Randomness

Everyone wants to succeed in life. But what causes some of us to be more successful than others? Is it really down to skill and strategy - or something altogether more unpredictable? This book intends to change the way you think about business and the world.

Description

Fooled by Randomness by Nassim Nicholas Taleb is a profound and engaging exploration of the role of chance in our lives. Set against the backdrop of financial markets, where Taleb draws much of his insight, the book delves deep into how we mistakenly attribute success to skill rather than acknowledging the significant impact of randomness and luck. Through a series of anecdotes, philosophical discussions, and rigorous analysis, Taleb uncovers the biases and misconceptions that influence our understanding of the world around us. This book is a journey through the unpredictable nature of life, shedding light on how unexpected events can shape our personal and professional experiences.

Everyone desires success, but what truly dictates why some flourish while others do not? Is it the mastery of skill and strategy, or is it something far more erratic and uncontrolled? Fooled by Randomness is the must-read book that challenges our perceptions of achievement and the forces behind it. Nassim Nicholas Taleb explains how our inability to grasp the concept of randomness and probability deceives us into attributing outcomes to non-existent reasons. Taleb uses his background in trading and academia to illustrate how markets, entrepreneurs, and professionals can often mistake luck for skill.

The book's central premise revolves around how we perceive and misinterpret luck in our lives. Taleb precisely argues that in areas like stock trading, we often ascribe success to vision or talent when in reality, much of it is about being in the right place at the right time. Our failure to understand randomness leads us to look for patterns and reasons where there are none, causing us to overestimate our ability to predict future outcomes. Fooled by Randomness invites readers to critically examine their beliefs about randomness and probability, encouraging a more sceptical view towards what we often consider as ’skill’ or ’talent’.

This irreverent bestseller has had a profound impact on readers globally by dismantling the illusions of predictability and control, teaching them to recognize randomness in their personal and professional lives. Taleb's unique perspective and insights have made Fooled by Randomness a transformative read, provoking thought and debate on the true nature of luck and success.

As a radical and paradoxical thinker, Nassim Nicholas Taleb's multifaceted career includes roles as a successful trader, a profound man of letters, and an esteemed academic. Currently, he serves as Distinguished Professor of Risk Engineering at New York University's Polytechnic Institute. Taleb has delved deeply into the realms of luck, uncertainty, probability, and knowledge, sharing his profound understanding through his writings. His books, including Fooled by Randomness and The Black Swan, have been translated into thirty-three languages, influencing a wide array of fields and readers worldwide. Notably, Taleb declines all awards and honours, believing they degrade knowledge by turning it into a competitive sport.

Book Hero Magic summarised reviews for this book. While it's new and still learning, it may not be perfect - your feedback is welcome! HOW HAS THIS BEEN REVIEWED?

Fooled by Randomness by Nassim Nicholas Taleb explores the role of randomness and luck in financial markets and life. Reviews highlight Taleb's engaging writing style and his expertise in statistics, praising the book for its insightful analysis of how humans often misinterpret random events. Critics appreciate his challenging of conventional wisdom, though some find his tone occasionally arrogant.

Book Details

INFORMATION

ISBN: 9780141031484

Publisher: Penguin Books Ltd

Format: Paperback / softback

Date Published: 03 May 2007

Country: United Kingdom

Imprint: Penguin Books Ltd

Audience: General / adult

DIMENSIONS

Spine width: 21.0mm

Width: 129.0mm

Height: 198.0mm

Weight: 274g

Pages: 368

Collections

All Books Finance & Economics Finance & Investment Nassim Nicholas Taleb Non-Fiction Tim's Books

About the Author

Nassim Nicholas Taleb is a radical no-nonsense philosopher for our times. He has spent his life immersing himself in problems of luck, uncertainty, probability, and knowledge, and he has led three high-profile careers around his ideas, as a man of letters, as a businessman-trader, and as a university professor and researcher. He is currently Distinguished Professor of Risk Engineering at New York University's School of Engineering. He is the author of the 4-volume INCERTO (Antifragile, The Black Swan, Fooled by Randomness, and The Bed of Procrustes). Taleb refuses all awards and honours as they debase knowledge by turning it into competitive sports.