Fooled by Randomness is a 
standalone book in Nassim Nicholas Taleb’s landmark Incerto series, an 
investigation of opacity, luck, uncertainty, probability, human error, 
risk, and decision-making in a world we don’t understand. The other 
books in the series are The Black Swan, Antifragile, Skin in the Game,&nbsp;and The Bed of Procrustes. Now in a striking new hardcover edition, Fooled by Randomness
 is the word-of-mouth sensation that will change the way you think about
 business and the world. 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. 
 This book is about luck–or more precisely, about how we perceive and 
deal with luck in life and business. Set against the backdrop of the 
most conspicuous forum in which luck is mistaken for skill–the world of 
trading–Fooled by Randomness provides captivating insight into 
one of the least understood factors in all our lives. Writing in an 
entertaining narrative style, the author tackles major intellectual 
issues related to the underestimation of the influence of happenstance 
on our lives. The book is populated with an array of characters,
 some of whom have grasped, in their own way, the significance of 
chance: the baseball legend Yogi Berra; the philosopher of knowledge 
Karl Popper; the ancient world’s wisest man, Solon; the modern financier
 George Soros; and the Greek voyager Odysseus. We also meet the 
fictional Nero, who seems to understand the role of randomness in his 
professional life but falls victim to his own superstitious foolishness. 
 However, the most recognizable character of all remains unnamed–the 
lucky fool who happens to be in the right place at the right time–he 
embodies 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 by chance. Are we capable 
of distinguishing the fortunate charlatan from the genuine visionary? 
Must we always try to uncover nonexistent messages in random events? It 
may be impossible to guard ourselves against the vagaries of the goddess
 Fortuna, but after reading Fooled by Randomness we can be a little better prepared. PRAISE FOR FOOLED BY RANDOMNESS: Named by Fortune One of the Smartest Books of All Time A Financial Times Best Business Book of the Year “[Fooled by Randomness] is to conventional Wall Street wisdom approximately what Martin Luther’s ninety-five theses were to the Catholic Church.” –Malcolm Gladwell, author of Blink “The book that rolled down Wall Street like a hand grenade.” –Maggie Mahar, author of Bull! A History of the Boom, 1982—1999 “Fascinating . . . Taleb will grab you.” –Peter L. Bernstein, author of Capital Ideas Evolving “Recalls the best of scientist/essayists like Richard Dawkins . . . and Stephen Jay Gould.” –Michael Schrage, author of Serious Play: How the World’s Best Companies Simulate to Innovate “We need a book like this. . . . Fun to read, refreshingly independent-minded.” –Robert J. Shiller, author of Irrational Exuberance “Powerful . . . loaded with crackling little insights [and] extreme brilliance.” –National Review

Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets PDF

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