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Fooled By Randomness : Incerto - Nassim Nicholas Taleb

Fooled By Randomness

Incerto

Paperback Published: 9th August 2005
ISBN: 9780812975215
Number Of Pages: 368

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Fooled by Randomness is a standalone book in Nassim Nicholas Taleb’s landmark Incerto series, an investigation of opacity, luck, uncertainty, probability, human error, risk, and decision-making in a world we don’t understand. The other books in the series are The Black Swan, Antifragile, Skin in the Game, and The Bed of Procrustes.

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.

Named by Fortune One of the Smartest Books of All Time

A Financial Times Best Business Book of the Year

Industry Reviews

"[Taleb is] Wall Street's principal dissident. . . . [Fooled By Randomness] is to conventional Wall Street wisdom approximately what Martin Luther's ninety-nine theses were to the Catholic Church."
-Malcolm Gladwell, The New Yorker

"Fascinating . . . Taleb will grab you."
-Peter L. Bernstein, author of Against the Gods: The Remarkable Story of Risk

"Recalls the best of scientist/essayists like Richard Dawkins . . . and Stephen Jay Gould."
-Michael Schrage, author of Serious Play

"We need a book like this . . . fun to read, refreshingly independent-minded."
-Robert J. Shiller, author of Irrational Exuberance

ISBN: 9780812975215
ISBN-10: 0812975219
Series: Incerto
Audience: Tertiary; University or College
Format: Paperback
Language: English
Number Of Pages: 368
Published: 9th August 2005
Publisher: Random House USA Inc
Country of Publication: US
Dimensions (cm): 20.2 x 13.5  x 2.2
Weight (kg): 0.29
Edition Number: 2
Edition Type: Revised

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