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Mar 30, 2011

Fooled by Randomness - Nassim Nicholas Taleb

The Hidden Role of Chance in Life and in the Markets is a book written by Nassim Nicholas Taleb about the fallibility of human knowledge. His second amazing book, after Black Swan.

"This book is about luck perceived and disguised as nonluck (that is, skills), and randomness perceived and disguised as nonrandomness (that is, determinism). It manifests itself in the shape of the lucky fool, defined as a person who benefited from a disproportionate share of luck but attributes his success to some other, generally very precise, reason." FBR was initially written as short stories around series of fictional characters. An irreverent introspective rumination on the deformations caused by randomness through literature, markets, philosophy, science, and mathematics, and a presentation of applied stoicism. It made many readers feel better about their comparative fate.

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