Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets (Incerto)
If the prescriptions for getting rich that are outlined in books such asThe Millionaire Next DoorandRich Dad Poor Dadare successful enough to make the books bestsellers, then one must ask, Why aren't there more millionaires? InFooled by Randomness, Nassim Nicholas Taleb, a professional trader and mathematics professor, examines what randomness means in business and in life and why human beings are so prone to mistake dumb luck for consummate skill. This eccentric and highly personal exploration of the nature of randomness meanders from the court of Croesus and trading rooms in New York and London to Russian roulette, Monte Carlo engines, and the philosophy of Karl Popper. Part of what makes this book so good is Taleb's ability to make seemingly arcane mathematical concepts (at least to this reviewer) entirely relevant in evaluating and understanding everything from the stock market to the success of those millionaires cited in the aforementioned bestsellers. Here's an articulate, wise, and humorous meditation on the nature of success and failure that anyone who wants a little more of the former would do well to consider. Highly recommended.--Harry C. Edwards--This text refers to an out of print or unavailable edition of this title.