Fooled by Randomness

Více o knize

This revised paperback edition includes a new introduction, expanded key concepts, and an extensive bibliography for further reading. The author takes readers on a compelling journey through perceptions of success, failure, and luck, bridging mathematics, philosophy, financial markets, and life. Key ideas such as survivorship bias, induction, and our genetic unsuitability for the modern world are presented in an engaging narrative that traverses the trading rooms of New York and Chicago. Along the way, the text references figures like Solon, Karl Popper, and Yogi Berra, culminating in a profound understanding of randomness's role in our lives. The author critiques those who attribute their success to brilliant plans, contrasting it with the unpredictable nature of events in trading and derivatives, where he is a recognized figure. He explores how individuals often mistake luck for skill, questioning our ability to distinguish between fortunate charlatans and genuine visionaries. The narrative invites readers to reflect on the randomness that shapes outcomes in both personal and professional realms, emphasizing the importance of recognizing the underlying chance factors behind apparent success.