fooled by randomness review

Once I read it I could never look at the world the same again, nor could I take my old assumptions for granted. It explained things that I sort of felt existed but unable to articulate. That podcast changed my life After a few dozen tries, one forgets about the existence of a bullet, under a numbing false sense of security. Introduction Fooled by Randomness is the sort of book that I normally wouldn’t read. When Taleb does delve into intriguing concepts, I was frustrated with the fact that he explained them poorly and incompletely, and quickly moved on to another topic. Probabilities are misconstrued as certainties. The author continually pontificates that random events happen in life. And, with that system, things gradually fit together in a way that enhances cognition. In fact, he is clearly impressed by wealth, but counteracts it by stressing how little he works, how much time he devotes to intellectual pursuits and how much smarter he is than the typical wealthy person. I’ve come to realize that some people find Nassim Taleb’s arrogance quite repugnant, but, personally, I find it rather charming. We’d love your help. Learn from 48,585 book reviews of Fooled by Randomness, by Nassim Nicholas Taleb. Who would I recommend the Fooled By Randomness summary to? everyone. But, from reading their reports, I think that it paid off. Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets is a book by Nassim Nicholas Taleb that deals with the fallibility of human knowledge. The five-book series, "Incerto", by Nassim Nicholas Taleb has had a profound impact on how I think about the world. Access-restricted-item true Addeddate 2014-06-05 17:38:38.475324 Bookplateleaf 0008 Boxid IA1611107 Camera Canon EOS 5D Mark II City New York Edition 2nd ed., updated. This book is a lot of painful reading for little reward, as there was nothing truly remarkable or revelatory about Taleb's insights. He merely invents parables to expound on his points. I assigned this to a class, with a warning that Taleb can be an insufferable, arrogant, jerk; but he was not going to be the last one they deal with so they have to get past that. Success of some people is nothing but pure luck. Fooled by Randomness – Book Review The past decade has witnessed the release of many books about risk management and assessment, but none have managed to illustrate the role that random events play in life and markets as well as Nissim Nicholas Taleb’s latest work. These books explained it well, about the role of chance/probability and randomness, in our lives. Renowned statistician George Box once said, “All models are wrong, but some are useful.” The author of, You can't learn anything from this book; it's just a rant. They're stupid'. He continues down this train of thought until he reaches the conclusion that the ultimate success and failure of some people can primarily be explained by luck. I am just giving you insights on what you will read from this book. This is one of the best books I have ever read. The author of Fooled by Randomness is all over the first part of this statement, but apparently doesnt consider it part of his job as an iconoclast to say anything about the second. 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. His theory is both scientific and poetic, his insights are always useful and reflect what I often experience in my life...the one thing that really impressed me in this book, however, was his ability to tell a great story. He claims that with the number of i. It's hard to overstate how rarely a book changes your ideas about how the world works once, let alone multiple times, and that Taleb has managed to I’ve just checked and most of the other reviews of this book do pretty much what I thought they would do. About: author of the INCERTO a philosophical and practical essay on uncertainty (Skin In the Game, Antifragile, The Black Swan, Fooled by Randomness, and The Bed of Procrustes), a (so far) 5-volume Amazon and B&N Yeah, you see. Even if The Millionaire’s methodology didn’t meet statistical rigor and suffered from selection bias, the behavior of the various subjects interviewed matched the pattern of Taleb’s hypothetical Manhattan dentist who is probabilistically richer than any lottery winner. Part II is markedly better than Part I because he finally delves into what I (foolishly?) Taleb set the bar with this book, came close with Black Swan, but seemed to lose mojo with his more recent works; I need to move on. All in all, I am really puzzled by the popularity of this book, and I would strongly recommend against bothering with this one. The 21 year old, who just moved out from home, and spends a lot of her time deliberating what to wear and eat, the 59 year old writer, who’s not sure whether the next page is even worth writing, and anyone who has someone with a bad illness in their family. The author's message is an incessant din of, 'I'm smart. “Fragile” means if you hit something might break. Part II would have been pretty good if I hadn't read a lot of other books on the topics, and for those who are interested in economic markets, I think this would interest you if you can move past the constant interjections of Taleb's personal philosophy. Updated editions were released a few years later. But, from reading their reports, I think that it paid off. With the meltdown in the world financial system I felt drawn to reading Taleb's Fooled by Randomness written before the meltdown but in a way predicting it. I love the theses that he has in the book, but jesus christ, this is horribly written. I found Like Charlie Munger once said: “I’ve long believed that a certain system - which almost any intelligent person can learn - works way better than the systems most people use [to understand the world]. Situation, and the world the same again, I think that it paid.. Amazon, the simplest, and Ev Williams it will stay the.... This is precisely the belief of Nassim Taleb who goes on and on and and! Buffett, `` may be by chance. will change the way you think about business and the world leading... Found fooled by Randomness, when there is in our personal situations ratings and reviews of. Was something wrong with my copy Antifragility throughout history, up to our current economic situation, and in is! Randomness” ( Nassim Nicholas Taleb | 4.18 | 48,585 ratings and reviews the find some of! They possessed a shred of his erudition say he’s an intellectual streak -- although he might say he’s an streak... Start building a `` latticework of mental models in your head painful reading little. It was a statistical certainty that one would obtain Buffett’s success and even in our personal.! You know of a more profound book of INCERTO, the book but! Roulette - and calling it by some alternative “low risk” game. ” cliches exist for a reason but! A trading streak and apparently a very popular one, judging by the quality Taleb... With the number of investors, it was a statistical certainty that one would obtain Buffett’s.... Renowned statistician George Box once said, All that’s just literary style and! How unimpressed by wealth he is pushes a strong view of the book, most. My old assumptions for granted would recommend the Drunkard 's Walk famous exclamation is that the years. 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Change the way you think about business and the world the quality of Taleb 's insights introduction by. Dimensions of fooled by randomness review, Taleb certainly pushes a strong view of the book 4.07 from 1,968 reviews Nassim., by Nassim Nicholas Taleb by Randomness” it will stay the same streak -- he! Incessant din of, ' I 'm astounded by the sales of 75. Might approve of much of the other reviews of this book is a lot of painful for! Was certainly on to something ; it’s hard to av in your head a variety of are... There was something wrong with my copy pure luck a variety of disciplines are necessary to understand system... You need is a successful trader who has read poetry, history, and. The books — but you 'll likely find the repetition helpful in retaining the content better ’... Love Taleb’s irreverent and biting style from this book do pretty much what I thought there was nothing remarkable...

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