Fooled by Randomness

from Davros-10

An excellent book that explains clearly how probability and statistics affects everyone, or rather how not understanding randomness causes most people to over or under-estimate the likelihood of events. In particular he demonstrates how irrational human beings are when it comes to understanding: ...

from ashergabbay

I read Nassim Taleb's "The Black Swan" a couple of years ago, and now I got around to reading his previous book, "Fooled by Randomness". This is the book that made Taleb famous for his theory about the role of chance in markets. Taleb says that humans tend to explain away random events by rationa...

from cjjy999

Taleb tells as is in the markets and life in general. You can tell he has absolutely no tolerance for pretenders. I like the fact that he looks at things at a deeper level, at least he tries to but his style can be very blunt and sound arrogant at times.

from addunn3

The author discusses his observations about how we are fooled by random events into make false causal links. Many of his examples are from his financial trading experience. Well worth the reading, though the author is a bit pugnacious and critical of other folks and their opinions. He is not over...

from nbmars

Taleb's principal thesis is that humans in general, and financial journalists in particular, are remarkably blind to the random element in most events. They overemphasize results over process. They attribute great ability to great success. Taleb argues that success tends to be very non-linear: la...