Kislay Verma's Reviews > Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets

Fooled by Randomness by Nassim Nicholas Taleb
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's review
Sep 05, 2012

really liked it

I have a full review at SolomonSays, but here's the tl;dr.

Fooled by Randomness is an inquiry into the nature of knowledge, and a critique of how we use this knowledge. For me, the very incidence of finding a book that attacks our "common-sense" concepts of ability and success in such a head-first manner was refreshing. Even more exciting was that the arguments are not rhetorical. This book is "Outliers" (Malcolm Gladwell) on steroids. While "Outliers" only looks at certain specific kinds of situations where we reverse-engineer causes to effects, FbR takes this semi-anecdotal narrative to the level of statistical science. The author derives many his conclusions from the stock market, that great playground of randomness and bravado, but all of them are applicable pretty much everywhere.

It is a somewhat counter-intuitive read, and you have to continuously quell the inner voice which says "But this can't be right!". And it is precisely because of this that FbR is a must read.
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05/18 marked as: read

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