Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets is a book written by Nassim Nicholas Taleb. It explores how people misunderstanding probability, particularly in relation to luck, affects their decision-making skills.
For who is this book for ?
This book is for people who want to better understand how probability affects their lives and the decisions they make. It is especially relevant for those working in financial markets, as this is where Taleb has had most of his experience.
Pros :
- It is a great introduction to the role of randomness in life and decision-making.
- It provides many fascinating examples of how chance can play out in both personal and professional settings.
- It is an interesting read that helps people to better understand how they make choices
Cons :
- You may be fooled by the title and think that this book is about luck.
- The author can come across as arrogant in his writing.
- It can be dry at times.
Learn more about the author
Nassim Nicholas Taleb is a Lebanese-American essayist, scholar, statistician, and risk analyst. He has been described as a “modern-day polymath.” He is known for his book “The Black Swan: The Impact of the Highly Improbable.
Reader Reviews
“A well written, interesting and provocative book”
“I read this book as part of my preparation for an upcoming actuarial exam. It was very helpful in that regard, and I would recommend it to any quant or business person. The author has a clear writing style and interesting anecdotes which make the concepts easy to understand.”
“An iconoclastic thinker who has been likened to both Einstein and Malcolm Gladwell, Taleb presents a thoroughly rational case against blindly trusting in the power of luck-and shows us how we can tap into the true drivers of success.”
“An amazing work that will change the way you think about life. Taleb is a genius.”
