Fooled by Randomness (English, Paperback, Taleb Nassim Nicholas)
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Fooled by Randomness (English, Paperback, Taleb Nassim Nicholas)
4.3
701 Ratings & 38 Reviews₹2,236
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Highlights
- Language: English
- Binding: Paperback
- Publisher: Cengage Learning, Inc
- Genre: Business & Economics
- ISBN: 9781587991905, 9781587991905
- Pages: 277
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Just as coincidence can be confused with causality, so the lucky idiot can be confused with the skilled investor. The realities of randomness and probability almost guarantee that, out of a large pool of random investors, a Warren Buffett will emerge just by luck. Taleb (the founder of Empirica L.L.
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Ratings & Reviews
4.3
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701 Ratings &
38 Reviews
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5
Fooled by Randomness
Ranked amongst 'the smartest books' by Fortune!
I bought it because my Finance Professor at the B.School recommended it and I thank him for that.
Taleb brilliantly proposes and proves that what we term as 'analysis' in the context of the markets is only 'play of chance for a non repeatable situation' and that 99% chance of success IS NOT EQUAL TO 100%,the decisions taken on this information weigh very lightly the possible consequences of that doomed 1%,one Black swan is sufficient to turn a...
READ MOREI bought it because my Finance Professor at the B.School recommended it and I thank him for that.
Taleb brilliantly proposes and proves that what we term as 'analysis' in the context of the markets is only 'play of chance for a non repeatable situation' and that 99% chance of success IS NOT EQUAL TO 100%,the decisions taken on this information weigh very lightly the possible consequences of that doomed 1%,one Black swan is sufficient to turn a...
M.. B. Saraswat
Certified Buyer
Apr, 2012
16
3
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4
Fooled by Randomness by Nassim Nicholas Taleb
I learned about this book from the cover blurb of the author's other title the follow-up book, the Black Swan. In fact I was attracted to the title "Fooled by randomness" which I mistook to pre-guess what the author was trying to establish-the deceptive reality for randomness itself. For, personally, I am a determinist and I pick and choose my reading in keeping with this inclination. But the tone and tenor of the book turned out to be quite the contrary. I had read long back an essay in the ...
READ MOREMAHADEVA SARMA
Certified Buyer, Bangalore
Jun, 2015
7
1
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5
Simply Beautiful!
Being an ardent devotee of 'randomness' I simply found this book to be a beautiful conversation on randomness. A difficult subject explained in such a simple manner. Anyone who cares to get to the core of the book would be greatly helped to master decision making in the face of uncertainty.
The author, Nassim Nicholas Taleb skillfully combines dialectic thinking and Bayesian probability to help readers discover the flaws in commonsense thinking, set beliefs and to discover things through th...
READ MOREThe author, Nassim Nicholas Taleb skillfully combines dialectic thinking and Bayesian probability to help readers discover the flaws in commonsense thinking, set beliefs and to discover things through th...
Dibyendu De
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Oct, 2012
2
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5
An "Off-track" book
A great book to be read by anyone who has any interest in the world business. This book implicitly rejects the idea of One Creator and explicitly explains that it's all luck and randomness of events and not some higher intellect. This book also rejects the idea that Great Men have become Great by doing some thing very different/great. It's just that few things have clicked for them and they have become successful. It's "Off-track". Such books are written once in decades.
READ MOREMohit S
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Nov, 2013
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4
Too shrewd ?
Did any of you have felt that author was way too shrewd in calling all other fools in almost every chapter ?
Also he is very proud of his intelligence and the fact he know is a Mathematician .
Anyways a brilliant book on probability and our misunderstandings with it. Liked the observation that we humans are way too flawed , we find patterns out of nothing ! Finding elephants in clouds !
READ MOREAlso he is very proud of his intelligence and the fact he know is a Mathematician .
Anyways a brilliant book on probability and our misunderstandings with it. Liked the observation that we humans are way too flawed , we find patterns out of nothing ! Finding elephants in clouds !
Anirudh Gargi
Nov, 2012
0
0
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3
Understanding Randomness
There are Lies, Damn Lies and Statistics. This is a very famous line known to most people practicing statistics. This book tries to explain how to see the truth from the statistics galore we see everyday in newspapers and other public media. This gives the essence of how ignoring simple facts can lead to completely unintended conclusions when it comes to statistics. This is just one part of the book
The most important part is explaining how luck plays major roles in most important phases of ...
READ MOREThe most important part is explaining how luck plays major roles in most important phases of ...
Dileep
Certified Buyer
Apr, 2013
0
1
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4
Good But Disconnected
In one line my personal opinion about the author:"OSHO of the business World"
Although I often pondered on many of his theories....even before I got my hands on this book....still I believe that not all things can be explained by a simple mathematics (probability)....there always is a good undercurrent of qualitative aspects that often makes the outer probability curve to look skewed...!!!
READ MOREAlthough I often pondered on many of his theories....even before I got my hands on this book....still I believe that not all things can be explained by a simple mathematics (probability)....there always is a good undercurrent of qualitative aspects that often makes the outer probability curve to look skewed...!!!
Sameer Saurabh
Certified Buyer, New Delhi
Jun, 2014
2
2
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4
Smart and relevant
Nassim's seminal follow up book to the Black Swan continues from where he left and goes on to explain the action or inaction caused by random events (volatility) on every day life esp. the markets.
Sometimes it gets quite dense and others preachy. The trick is to remain focused and what emerges at the end is the cardinal principles to manage risks for what they actually are and to rely on instinct grounded in reality and not gut before taking that major decision.
A must read for all trade...
READ MORESometimes it gets quite dense and others preachy. The trick is to remain focused and what emerges at the end is the cardinal principles to manage risks for what they actually are and to rely on instinct grounded in reality and not gut before taking that major decision.
A must read for all trade...
Ramanathan S
Dec, 2011
2
2
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3
Towards the middle and end of the book I thought like getting fooled by the writings.
Bought with great expectations due to the brand and publicity of the author.
So the Book is all about justifying the authors view on randomness in life, being aware and knowing about the substantial percentage of noise embedded in any experimental and knowledgeable data.
As long as the author strikes to the theme of these idea, the pages were interesting. Certain view on the happiness and pang of life by letting oneself to over-judge and over-examine the events on a minuscule time frame are...
READ MORESo the Book is all about justifying the authors view on randomness in life, being aware and knowing about the substantial percentage of noise embedded in any experimental and knowledgeable data.
As long as the author strikes to the theme of these idea, the pages were interesting. Certain view on the happiness and pang of life by letting oneself to over-judge and over-examine the events on a minuscule time frame are...
Flipkart Customer
Certified Buyer, Mumbai
Oct, 2013
1
0
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5
Great book
This book is a classic read, the context is around how we keep deriving patterns from random events to build a correlation where none exists. The knowledge of maths will help in easier understanding of the various examples cited in the book. I have become particularly fond of the author's views after reading this book, and he certainly is an authority on subject of probability/ stochastic processes.
Go read it, not for some understanding of a particular subject, but, to gain some very interes...
READ MOREGo read it, not for some understanding of a particular subject, but, to gain some very interes...
Vaibhav Bansal
Jan, 2016
1
2
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All 38 reviews
Questions and Answers
Q:Is it good for beginners
Interesting or not?
A:no ,the language is quite a bit difficult ,, definitely not an interesting book for a beginner
shyam sundar
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Q:how many pages this book contains
A:316 pages, excluding xxxviii pages of Preface and 8 pages of prologue.
Anonymous
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Q:Is it novel based
A:No...it's based on personal experience of the writer. Various chapters can be read independently as well.
Abhishek Bisen
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Q:Is this the 2nd, updated edition?
A:Yes
Anonymous
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