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Fooled by Randomness: The Hidden Role of Chance in the Markets and in Life by Nassim Nicholas Taleb
quartzmaya's review against another edition
4.0
“Mild success can be explainable by skills and labor. Wild success is attributable to variance.”
I was surprised to enjoy this book. The author takes a somewhat complicated-to-understand concept and breaks it down with real-world examples to make it more digestible.
It is interesting how he uses these examples of randomness to push forward the benefits of the philosophy of stoicism.
I was surprised to enjoy this book. The author takes a somewhat complicated-to-understand concept and breaks it down with real-world examples to make it more digestible.
It is interesting how he uses these examples of randomness to push forward the benefits of the philosophy of stoicism.
mexscrabbler's review against another edition
4.0
A very exciting book which makes you question your approach to life. Could be life-changing, if only one had the conviction and determination to effectively separate intellect from emotion.
The author has made a career of questioning everything with clinical detachment, fighting the human instincts which we are so easily fooled by.
The author is also extremely well-read and open to new knowledge; there are some good references to authors, scientists, journalists, entrepreneurs, etc. whom the author admires.
The author has made a career of questioning everything with clinical detachment, fighting the human instincts which we are so easily fooled by.
The author is also extremely well-read and open to new knowledge; there are some good references to authors, scientists, journalists, entrepreneurs, etc. whom the author admires.
_walter_'s review against another edition
2.0
The first thing you should know about this book is that the author fancies himself an "aesthete". That's a little presumptuous, right? "No, no, I know we all like beauty, but I have a refined taste for it..." The only other author who fancied himself one (that I've come across) is Umberto Eco. Unsurprisingly, they both have (or had, in Eco's case...) the irresistible compulsion to tell you about it, and in as many languages as possible. Why do assholes feel like they need to pepper every other sentence with some Latin or French phrase in order to show how so very clever and worldly they are? Mais comme d'habitude, je digresse!
The second thing you ought to know about "Fooled by Randomness" is that, perhaps, only 17.33% of the book is readable, as in worth-your-time. The rest is just self-important ego stroking, rants, and random displays of erudition. See first paragraph. Matter of fact, the second half of the book is more or less a summary of Tversky and Kahneman's work (of [b:Thinking, Fast and Slow|11468377|Thinking, Fast and Slow|Daniel Kahneman|https://i.gr-assets.com/images/S/compressed.photo.goodreads.com/books/1317793965l/11468377._SX50_.jpg|16402639] fame) along with other bits of pop-psychology, and more aesthetician stuff. Sometimes I wonder if Taleb is just Malcom Gladwell's final form...
Anyways, there are some good nuggets here and there, but nothing that will surprise you much if you are so inclined to read these sorts of books. The whole premise is this: people often attribute skill to what is largely driven by randomness ("lucky fool"), and they tend to underestimate or misinterpret the role of chance in outcomes ("survivorship bias"). He sees this as an opportunity since, by extension, it means that people tend to undervalue rare events, which present a great way to make a lot of money albeit infrequently.
These earlier chapters are done very well since he tries to stick to the subject. But unfortunately, it gets increasingly and non-linearly irritable the further into the book you go.
It gets a "Meh" from me.
The second thing you ought to know about "Fooled by Randomness" is that, perhaps, only 17.33% of the book is readable, as in worth-your-time. The rest is just self-important ego stroking, rants, and random displays of erudition. See first paragraph. Matter of fact, the second half of the book is more or less a summary of Tversky and Kahneman's work (of [b:Thinking, Fast and Slow|11468377|Thinking, Fast and Slow|Daniel Kahneman|https://i.gr-assets.com/images/S/compressed.photo.goodreads.com/books/1317793965l/11468377._SX50_.jpg|16402639] fame) along with other bits of pop-psychology, and more aesthetician stuff. Sometimes I wonder if Taleb is just Malcom Gladwell's final form...
Anyways, there are some good nuggets here and there, but nothing that will surprise you much if you are so inclined to read these sorts of books. The whole premise is this: people often attribute skill to what is largely driven by randomness ("lucky fool"), and they tend to underestimate or misinterpret the role of chance in outcomes ("survivorship bias"). He sees this as an opportunity since, by extension, it means that people tend to undervalue rare events, which present a great way to make a lot of money albeit infrequently.
These earlier chapters are done very well since he tries to stick to the subject. But unfortunately, it gets increasingly and non-linearly irritable the further into the book you go.
It gets a "Meh" from me.
njyx's review against another edition
4.0
A 3.5 for me... but tilted to 4. I enjoy Nassim Nicholas Taleb's writings: they have genuinely important contrarian thoughts in them: things that really need to be considered in our wanderings through life. This book is no exception. However, I feel this definitely have a little too much repetition of some key points it also doesn't really get into how to think yourself out of randomness misperceptions.
Those would be fine but there is also a little too much time spent dinging other writers and professions for my taste. Some of the scorn is understandable (people that should know better that influence others) but some it feels over the top!
Those would be fine but there is also a little too much time spent dinging other writers and professions for my taste. Some of the scorn is understandable (people that should know better that influence others) but some it feels over the top!
twrafferty's review against another edition
2.0
There are some interesting ideas squirrelled away in this book. But the overall tone of smugness (and the author's inability to have a paragraph without parentheses) made it a very hard book to plough through. I have no problem with economic concepts, but this book has a lot more sizzle than it has steak.
nitaantony's review against another edition
reflective
medium-paced
4.0
Fooled by Randomness
Author: Nassim Nicholas Taleb
Genre: Nonfiction
Moods: Reflective
Pace: Medium
Here the author discusses on the role luck and randomness play in shaping success and failure. In a world where we often attribute achievements to skill, Taleb challenges this deterministic perspective, arguing that chance plays a far greater role than we like to admit.
The book delves into how human beings are wired to see patterns even in purely random events, leading to overconfidence in flawed theories. He highlights that in unpredictable environments, change is the only constant, and our attempts to create rigid explanations often fall short.
While randomness can be disruptive in areas requiring precision, such as science and finance, Taleb makes an interesting case for its value in creative pursuits like poetry and art. Here, unpredictability fosters originality and innovation, making randomness more of a liberal art that fuels human expression rather than an obstacle to be controlled.
Fooled by Randomness is a compelling read for those interested in risk, decision-making, and the psychology behind success. Taleb’s writing is both insightful and provocative, forcing readers to rethink their assumptions based on luck and skills.
My Rating: 4/5
My Rating: 4/5
tim_ohearn's review against another edition
3.0
Taleb's writing style and methods of presenting facts & figures are best described as brash and in-your-face. I liked the book, loved the parallels between it and Thinking, Fast and Slow, but thought the "neighbor" theme that propagated throughout the book was contrived and poorly executed. Also, Taleb loves to mention that he isn't an expert on certain subjects (but has read about them!).