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Synopsis
Selected by Amazon.com and The Financial Times as one of the best business books of the year, Fooled by Randomness is an instant classic. Already published in 14 languages, the book's title has entered our vocabulary. After reading the excitement expressed below for Fooled by Randomness one realizes that its world-wide bestseller status is no random event. This book is about luck or more precisely how we perceive and deal with luck in life and business. It is already a landmark work and its title has entered our vocabulary. In its second edition, Fooled by Randomness is now a cornerstone for anyone interested in random outcomes. Set against the backdrop of the most conspicuous forum in which luck is mistaken for skill the world of trading Fooled by Randomness is a captivating insight into one of the least understood factors of all our lives. Writting in an entertaining and narrative style, the author succeeds in tackling three major intellectual issues: the problem of induction, the survivorship biases, and our genetic unfitness to the modern word. In this second edition, Taleb manages to use stories and anecdotes to illustrate our overestimation of causality and the heuristics that make us view the world as far more explainable than it actually is. But no one can replicate what is obtained by chance. Are we capable of distinguishing the fortunate charlatan from the genuine visionary? Must we always try to uncover nonexistent messages in random events? It may be impossible to guard ourselves against the vagaries of the Goddess Fortuna, but after reading Fooled by Randomness we can be a little better prepared.
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About the Author
Nassim Nicholas Taleb is an essayist principally concerned with the problems of uncertainty and knowledge. Taleb?s interests lie at the intersection of philosophy,
mathematics, finance, literature, and cognitive science but he has stayed extremely
close to the ground thanks to an uninterrupted two-decade career as a mathematical
trader. Specializing in the risks of unpredicted rare events (?black swans?), he held senior trading positions in New York and London before founding Empirica LLC, a trading firm and risk research laboratory. Taleb is a fellow at the Courant Institute
of Mathematical Sciences of New York University where he has been teaching a
class on the failure of models since 1999. His degrees include an MBA from the Wharton School and a Ph.D. from the University of Paris Dauphine. The author?s ideas on skeptical empiricism have been covered by hundreds of articles around the world. Since childhood, Taleb has been obsessed with the defects of his own thinking. In addition to his scientific and literary interests, Taleb enjoys cafe
lounging and museum hopping.
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Fooled By Randomness: The Hidden Role of Chance in Life and the Markets
Published by
Cengage Learning, Inc, United States, Florence, 2004
ISBN 10: 1587991845
ISBN 13: 9781587991844
Used
Paperback
Seller: WorldofBooks, Goring-By-Sea, WS, United Kingdom
Seller rating 5 out of 5 stars
Paperback. Condition: Very Good. This revised paperback edition of "Fooled by Randomness" includes a new introduction, the expansion of some of the author's key concepts and an extensive bibliography pointing the reader towards further reading. Taleb takes the reader on a fascinating journey through our perceptions of success, failure and luck; bridging the gap between mathematics, philosophy, the financial markets and life in general. Concepts such as survivorship bias, induction and our genetic lack of fitness for the modern world are laid before the reader in an accessible narrative that sweeps across the trading rooms of New York and Chicago, passing along the way Solon (the Ancient World's wisest man), the philosophy of Karl Popper and the pronouncements of Yogi Berra ("it ain't over 'till the fat lady sings") amongst others. At the end of the journey, the reader is left with a deep understanding of the role randomness plays in all our lives. Taleb delves into the reality of the lucky fool being "in the right place at the right time" who claims some brilliantly conceived plan was behind the success. He explains his ideas against a backdrop of the greatest and most visible forum possible for investigating these misconceptions - the world of trading and derivatives in which Taleb is regarded as a leading international figure. How often has the brilliant trader, who seems to the outside world to have been granted the gift of second-sight, been suddenly wiped out by a supposedly rare - or random - event? And we can all recognize the business leader or politician who claims a remarkable upturn in results is solely down to the cleverly thought-out strategies - when the reality is a series of independent factors coming together by chance to produce the success. Are we capable of recognizing the fortunate charlatan from the genuine visionary? The book has been read, but is in excellent condition. Pages are intact and not marred by notes or highlighting. The spine remains undamaged. Seller Inventory # GOR001965213
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Fooled By Randomness: The Hidden Role of Chance in Life and the Markets
Seller: The Secret Book and Record Store, Dublin, DUB, Ireland
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Soft cover. Condition: Very Good. 2nd Edition. Shelf wear otherwise in very good condition. Seller Inventory # 9431
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Fooled by Randomness: The Hidden Role of Chance in the Markets and Life
Seller: ThriftBooks-Atlanta, AUSTELL, GA, U.S.A.
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Paperback. Condition: Good. No Jacket. Pages can have notes/highlighting. Spine may show signs of wear. ~ ThriftBooks: Read More, Spend Less. Seller Inventory # G1587991845I3N00