Fooled by Randomness: The Hidden Role of Chance in the Markets and in Life

Taleb, Nassim Nicholas

ISBN 10: 1587990717 / ISBN 13: 9781587990717

Published by W. W. Norton, 2001

About this Item

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Bibliographic Details

• Title: Fooled by Randomness: The Hidden Role of Chance in the Markets and in Life
• Publisher: W. W. Norton
• Publication Date: 2001
• Language: English
• ISBN 10: 1587990717
• ISBN 13: 9781587990717
• Binding: hardcover
• Condition: New
• Weight: 16 ounces

About this title

Synopsis

In Fooled by Randomness, Taleb takes the reader on a fascinating journey through our perceptions of success, failure and luck. He takes the mathematics and psychology of probability and explains them with reference to 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 a highly entertaining and 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.

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.