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Fooled By Randomness

a book by Nassim Nicholas Taleb


Fooled by Randomness is a splash of water in the face of common reason.

Fooled By Randomness is also a very pleasurable read.

but:

Fooled By Randomness is primarily an entertaining book that teaches important concepts

From the Book: "Nero Tulip became obsessed with trading after witnessing a strange scene one spring day as he was visiting the Chicago Mercantile Exchange"...

A version of the old saw:

it is not what we don't know that hurts us, it is what we know and we are wrong that is dangerous.

Life is not linear and life is not simple.

We are used to making decisions based on obvious choices. Nassim Taleb shows that the complex decisions required in investment do not respond to an intuitive guess or obvious shortcuts. In short our educations may have taught us the wrong thinking styles.

Those that would take our money are very willing to use short-cut reasoning, and they may not even know why it is flawed.

Taleb makes a point of showing errors in the thought process or errors of logic that lead us to improper decisions.

Each of Nassim Taleb's points can save or make you money.

In Fooled By Randomness Taleb disagrees with much of what goes for wisdom in financial markets. He proves points with a minimum of math making each chapter understandable.

I have read the book several times, I will read it again.

For one thing, I enjoy reading Fooled By Randomness.

 

I also like to win.

 

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