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Fooled by Randomness

The Hidden Role of Chance in Life and in the Markets

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Fooled by Randomness

Von: Nassim Nicholas Taleb
Gesprochen von: Sean Pratt
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Über diesen Titel

This audiobook is about luck, or more precisely, how we perceive and deal with luck in life and business. It is already a landmark work and its title has entered our vocabulary. In its second edition, Fooled by Randomness is now a cornerstone for anyone interested in random outcomes.

Set against the backdrop of the most conspicuous forum in which luck is mistaken for skill, the world of trading, this audiobook is a captivating insight into one of the least understood factors of all our lives. In an entertaining narrative style, the author succeeds in tackling three major intellectual issues: the problem of induction, the survivorship biases, and our genetic unfitness to the modern word. Taleb uses stories and anecdotes to illustrate our overestimation of causality and the heuristics that make us view the world as far more explainable than it actually is.

The audiobook is populated with an array of characters, some of whom have grasped, in their own way, the significance of chance: Yogi Berra, the baseball legend; Karl Popper, the philosopher of knowledge; Solon, the ancient world's wisest man; the modern financier George Soros; and the Greek voyager Ulysses. We also meet the fictional Nero, who seems to understand the role of randomness in his professional life, but who also falls victim to his own superstitious foolishness.

But the most recognizable character remains unnamed, the lucky fool in the right place at the right time - the embodiment of 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 through chance.

It may be impossible to guard against the vagaries of the Goddess Fortuna, but after listening to Fooled by Randomness we can be a little better prepared.

©2004 Nassim Nicholas Taleb (P)2008 Gildan Media Corp
Mathematik Persönliche Finanzen Philosophie

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Kritikerstimmen

"[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)
"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." (Amazon.com)
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This was the best non-fiction book I have listened to since many years. I love the structure of the book and the vast amount of wisdom explained by the help of stories, anecdotes, poems, philosophy making the book enjoyable to follow. I have ordered the next book of the author and start reading now. Thank you Nassim Nicolas Taleb.

So much wisdom ...

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The books by Taleb are just amazing. He has an extremely refreshing view on things and you learn a lot!

Amazing book!

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Maybe my expectations were too high, but this book seems like little more than anecdotes about rich traders, packaged as an essay on probability. I personally didn't find anything of value as an investor, though perhaps it could appeal to professional traders early in their career.

Underwhelmed

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It was a delight to listen to this audio book. Thank to the narrator for giving the thought air to breathe with some pauses that did just that. excellent narrated too.

Thank you for sharing, Nasdim!

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great overview but would have liked to hear more depth about trading and felt it ended slightly abruptly wanting more. that aside, I would still highly recommend the book.

very good. would have liked more trading

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Eine wunderbar skeptische Auseinandersetzung mit Wissenschaften und den Effekten von Zufall. Ich hatte unheimlichen Spaß während es Hörens und bin gespannt auf den Rest seiner Bücher!

Science is great; scientist are dangerous

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The author is a great mind and this book could be very interesting but even the best minds can benefit by listening to others.
In this case, the author should have listened to his editor.
Rather than a well-structured, organized book, this text appears like a random collection of anecdotes.
This makes it much harder to keep listening than would be desirable.
There are some great points in this book but in it's current version, there are serious shortcomings.
The author likes to praise himself, the organization of this book needs serious editing and rather than random anectodes of sometimes questionable relevance, a discussion of actual data and scientific concepts would seem beneficial.

Does the content fool us by randomness?

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Great take on Probability, and how to think about statistics, probability, and luck. Keeps it down to earth and doesn’t go wild with math, which is really doesn’t need

Probably one of the best books I’ve read this year

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As always this was a great read from Taleb, eyes opening ideas and many of them are applicable in engineering too. When there is no time for testing in world of rushed projects, engineering is as fuzzy as social s sciences but worse because it gives you the false confidence since it's engineering. Just because you CAN measure everything, you CAN'T measure everything, there is no time for that. So you end up with theories to extrapolate the data and BOOM fooled by randomness!

It's always good to read Taleb

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The book provides good information about randomness in life (not only in market). It is also a bit too philosophical in my taste

Good book, a bit too philosophical in my taste

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