|
|
|
|
|
|
|
|
|
|
Books : Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets |
|
List Price: $27.00Amazon.com's Price: $17.82 You Save: $9.18 (34%)Prices subject to change.
Availability: Usually ships in 24 hours
Binding: Hardcover
Dewey Decimal Number: 123.3
EAN: 9781400067930
ISBN: 1400067936
Label: Random House
Manufacturer: Random House
Number Of Items: 1
Number Of Pages: 368
Publication Date: October 14, 2008
Publisher: Random House
Release Date: October 14, 2008
Sales Rank: 1323
Studio: Random House
Related Items:
Editorial Review:
Product Description:
Now in a striking new hardcover edition, Fooled by Randomness is the word-of-mouth sensation that will change the way you think about business and the world. Nassim Nicholas Taleb–veteran trader, renowned risk expert, polymathic scholar, erudite raconteur, and New York Times bestselling author of The Black Swan–has written a modern classic that turns on its head what we believe about luck and skill.
This book is about luck–or more precisely, about how we perceive and deal with luck in life and business. Set against the backdrop of the most conspicuous forum in which luck is mistaken for skill–the world of trading–Fooled by Randomness provides captivating insight into one of the least understood factors in all our lives. Writing in an entertaining narrative style, the author tackles major intellectual issues related to the underestimation of the influence of happenstance on our lives.
The book is populated with an array of characters, some of whom have grasped, in their own way, the significance of chance: the baseball legend Yogi Berra; the philosopher of knowledge Karl Popper; the ancient world’s wisest man, Solon; the modern financier George Soros; and the Greek voyager Odysseus. We also meet the fictional Nero, who seems to understand the role of randomness in his professional life but falls victim to his own superstitious foolishness.
However, the most recognizable character of all remains unnamed–the lucky fool who happens to be in the right place at the right time–he embodies the “survival of the least fit.” Such individuals attract devoted followers who believe in their guru’s insights and methods. 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.
PRAISE FOR FOOLED BY RANDOMNESS:
Named by Fortune One of the Smartest Books of All Time
A Financial Times Best Business Book of the Year
“[Fooled by Randomness] is to conventional Wall Street wisdom approximately what Martin Luther’s ninety-five theses were to the Catholic Church.”
–Malcolm Gladwell, author of Blink
“The book that rolled down Wall Street like a hand grenade.”
–Maggie Mahar, author of Bull! A History of the Boom, 1982—1999
“Fascinating . . . Taleb will grab you.”
–Peter L. Bernstein, author of Capital Ideas Evolving
“Recalls the best of scientist/essayists like Richard Dawkins . . . and Stephen Jay Gould.”
–Michael Schrage, author of Serious Play: How the World’s Best Companies Simulate to Innovate
“We need a book like this. . . . Fun to read, refreshingly independent-minded.”
–Robert J. Shiller, author of Irrational Exuberance
“Powerful . . . loaded with crackling little insights [and] extreme brilliance.”
–National Review
“If asked to name the five best books written about markets, Fooled by Randomness would be on my list.”
–Jack D. Schwager, author of Market Wizards: Interviews with Top Traders
“Excellent and thought-provoking . . . an entertaining book.”
–Financial Times
Amazon.com Review:
If the prescriptions for getting rich that are outlined in books such as The Millionaire Next Door and Rich Dad Poor Dad are successful enough to make the books bestsellers, then one must ask, Why aren't there more millionaires? In Fooled by Randomness, Nassim Nicholas Taleb, a professional trader and mathematics professor, examines what randomness means in business and in life and why human beings are so prone to mistake dumb luck for consummate skill. This eccentric and highly personal exploration of the nature of randomness meanders from the court of Croesus and trading rooms in New York and London to Russian roulette, Monte Carlo engines, and the philosophy of Karl Popper. Part of what makes this book so good is Taleb's ability to make seemingly arcane mathematical concepts (at least to this reviewer) entirely relevant in evaluating and understanding everything from the stock market to the success of those millionaires cited in the aforementioned bestsellers. Here's an articulate, wise, and humorous meditation on the nature of success and failure that anyone who wants a little more of the former would do well to consider. Highly recommended. --Harry C. Edwards
Customer Reviews
Average Rating: 
Rating:  - Superb
Nutshell review - This is an excellent book - well written, insightful, full of lessons for investing (and life) and eye-opening! Certainly if you are an investor, but also if you just want to understand just how large a role randomness plays in your life, then you need to read this book. Entertaining and informative at the same time.
Two other excellent books in the same genre are The Drunkard's Walk: How Randomness Rules Our Lives by Leonard Mlodinow and, of course, Taleb's later ... Read More
Rating: - Fooled by luckiness
The author is a trader and writes about trading. The book, however, is not at all a mere how-to book on investing but deals with much broader topics on life in general. You may not learn anything new if you are familiar with probability and statistics; however, the author eloquently illuminates those "random" elements in society in various interesting perspectives, including history, science, philosophy, mathematics, psychology, and so on. The author's illustrious reading habit made this a very ... Read More
Rating: - So many lessons taken from this
I loved the rant and I loved the stories. While sometimes a little bit hard to stay in the flow of it, I think I learned as much of value from this book than anything I read in school. Really drove home some key value lessons about finance and way beyond.
Better lucky than good though best to be both!
Rating: - Outstanding - An Unputdownable Read
This (and its sister book 'The Black Swan) completely blew me away. I am a 24 year old finance major, now working as a management consultant, with a real interest in markets and psychology.
The central thesis of the books are tantalisingly simple: the world is so functionally complex (and growing ever more so) that most social phenomena are effectively `random'. Randomness, however, is poorly understood and even more poorly explained by orthodox mathematical modelling which systematically ... Read More
Rating:  - Long, repetitive, unorganized, and too philosophical for its own good
[..............]
This is an interesting idea, and deserves some thought. Unfortunately, Taleb immediately sets the tone of his book as a pseudo-intellectual examination of the human approach to life and wealth. He writes about an obscure historical story of King Croesus and Solon. Solon tells Croesus to not be so proud of his riches, because times can change, and his riches can disappear quickly. Voila, Solon turns out to be right - Croesus loses a battle to King Cyrus and loses everything ... Read More
Browse for similar items by category:
|
|
|
|
|
Shopping with us is
100% safe. In association with Amazon.com
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Books
