Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets |
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 | Fooled by Randomness is based on a basic truth about humans: we are not very good at statistics, especially if we simply rely on our instincts. For example, we fear airplanes, sharks and terrorists, yet we rarely think about mundane risks like cancer and car accidents. Similarly, we are not good at judging investments. We think that the broker who picked three winners in a row must know something; not necessarily so, says Taleb.
This book is well worth reading, especially if you ever invest in individual stocks or managed stock funds (it will probably talk you out of doing so). It certainly is not an investment guide, however, so do not buy it if you are looking for a hot stock tip.
Taleb has a quirky writing style. This certaintly is not a "pretty" book. Nevertheless, it is easy enough to read.
Taleb, a stock trader himself, does to seem to hold most other traders in high regard.
Taleb has a unusual way of looking at things; one gets the idea that he is somewhat arrogant and ... read more.
Written by Nassim Nicholas Taleb.
Published 14 October 2008.
Published by Random House.
rrp £18.15.
368 pages Hardcover.
ISBN: 1400067936
ISBN-13: 9781400067930 | |
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