- Series: Incerto
- Paperback: 368 pages
- Publisher: Random House Trade Paperbacks; Updated edition (August 23, 2005)
- Language: English
- ISBN-10: 158799190X
- ISBN-13: 978-1587991905
- ASIN: 0812975219
- Product Dimensions: 5.2 x 0.8 x 8 inches
- Shipping Weight: 9.1 ounces (View shipping rates and policies)
- Average Customer Review: 719 customer reviews
- Amazon Best Sellers Rank: #8,198 in Books (See Top 100 in Books)
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Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets (Incerto) Paperback – August 23, 2005
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"[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
About the Author
Nassim Nicholas Taleb has devoted his life to problems of uncertainty, probability, and knowledge. He spent nearly two decades as a businessman and quantitative trader before becoming a full-time philosophical essayist and academic researcher in 2006. Although he spends most of his time in the intense seclusion of his study, or as a flâneur meditating in cafés, he is currently Distinguished Professor of Risk Engineering at New York University’s Polytechnic Institute. His main subject matter is “decision making under opacity”—that is, a map and a protocol on how we should live in a world we don’t understand.
Taleb’s books have been published in thirty-three languages.
From the Hardcover edition.
Top customer reviews
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The author has thought deeply about risk and uncertainty. Before reading this I thought I had too. No longer. Perhaps reading this while young would produce a more positive asessment of its value but in one's later years it is more depressing than enlightening. Yes, most of us are fools so what's new in that? Will any readers be made less foolish by reading this? That is really the question.
In our society we look at people like Bill Gates and Warren Buffet as having some secret to success and never consider the fact that with millions of investors someone will rise to the top regardless if they are smarter. Men like Buffet are seen as successful because they took risks and therefore you are told to take risks and you will be successful. You are never shown all those who risked in business and investing who failed.
My favorite part of the book was the analogy of Russian Roulette and also the end about living with randomness. The analysis about the book The Millionaire Next Door was excellent as well. The author also explains how you can set yourself up to succeed through randomness although I wish this were a larger part of the book.
The author himself has a very high opinion of himself and can come across as bragging (especially about his extensive education) and that can turn off some readers. Also remember that he was relatively unknown until he predicted the crash in 2008 but he also could have just been lucky as out of millions of investors someone will always get it right. The author would agree I'm sure.
I enjoyed this book and will be reading other books by Nassim Nicholas Taleb soon.
Yes, as many of the other reviewers note, Taleb is excessively critical of journalists, economists and MBAs, however I didn't find it off putting. Rather, it gives his writing personality and makes it more interesting.
Most recent customer reviews
- Nassim provides an extensive bibliography which is priceless if the reader wants to explore any of the topics further.Read more