phuongreading 's review for:

Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Nassim Nicholas Taleb

4.0

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sorry this is my finance bro book of the month. the narrative voice is arrogant and at-times condescending but honestly im used to them (traders). this book actually aligned with a lot of my personal believe about data science. “Probability is not a mere computation of odds on the dice or more complicated variants; it is the acceptance of the lack of certainty in our knowledge and the development of methods for dealing with our ignorance.” its a dangerous fallacy to assume that past probabilities inform future outcomes. additionally, the hot take that put this book under fire and the reason why i love it is “Mild success can be explainable by skills and labor. Wild success is attributable to variance.” millionaires and the likes of elon and mark don't "deserve" their wealth because they work harder or is smarter than any of us ordinary folks. their success is largely statistical.
entertaining and validating of my hatred for the ultra-wealthy!