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Fooled by Randomness : The Hidden Role
Publisher:
Penguin Random House
| Author:
NASSIM NICHOLAS TALEB
| Language:
English
| Format:
Paperback
Publisher:
Penguin Random House
Author:
NASSIM NICHOLAS TALEB
Language:
English
Format:
Paperback
Original price was: ₹799.₹639Current price is: ₹639.
In stock
Ships within:
7-10 Days
In stock
ISBN:
Page Extent:
368
Everyone wants to succeed in life. But what causes some of us to be more successful than others? Is it really down to skill and strategy – or something altogether more unpredictable? This book is the bestselling sensation that will change the way you think about business and the world. It is all about luck: more precisely, how we perceive luck in our personal and professional experiences. Nowhere is this more obvious than in the markets – we hear an entrepreneur has ‘vision’ or a trader is ‘talented’, but all too often their performance is down to chance rather than skill. It is only because we fail to understand probability that we continue to believe events are non-random, finding reasons where none exist. ‘One of the smartest books of all time’ Fortune ‘An iconoclastic tour de force … nothing escapes his Exocets’ Evening Standard ‘Brilliant’ John Kay ‘Excellent and thought-provoking … an entertaining book’ Financial Times ‘Wall Street’s principal dissident’ Malcolm Gladwell
Reviews
Description
Everyone wants to succeed in life. But what causes some of us to be more successful than others? Is it really down to skill and strategy – or something altogether more unpredictable? This book is the bestselling sensation that will change the way you think about business and the world. It is all about luck: more precisely, how we perceive luck in our personal and professional experiences. Nowhere is this more obvious than in the markets – we hear an entrepreneur has ‘vision’ or a trader is ‘talented’, but all too often their performance is down to chance rather than skill. It is only because we fail to understand probability that we continue to believe events are non-random, finding reasons where none exist. ‘One of the smartest books of all time’ Fortune ‘An iconoclastic tour de force … nothing escapes his Exocets’ Evening Standard ‘Brilliant’ John Kay ‘Excellent and thought-provoking … an entertaining book’ Financial Times ‘Wall Street’s principal dissident’ Malcolm Gladwell
About Author
Nassim Nicholas Taleb is an uncompromizing no-nonsense thinker for our times. He has spent his life immersing himself in problems of luck, uncertainty, probability, and knowledge, and he has led three high-profile careers around his ideas, as a man of letters, as a businessman-trader, and as a university professor and researcher. He is currently Distinguished Professor of Risk Engineering at New York University's School of Engineering. He is the author of the 4-volume INCERTO (Antifragile, The Black Swan, Fooled by Randomness, and The Bed of Procrustes). Taleb refuses all awards and honours as they debase knowledge by turning it into competitive sports.
Reviews
This book is quite jarring.
To a student of finance who has to read about the classical and the neoclassical theories and models of finance, this book is quite jarring. I must accept that the points discussed in this book are so left-field, they are bound to induce cognitive dissonance.
However, the points raised in the book cannot be ignored either. Behavioral finance does break down the classical finance theories about the rational man. But this book piles on it and proclaims that the models used in finance till now are fitted on the past data and have little predictive power over the future trends. That these models can only be successful in a short period of time till the black swan incident wipes it all down.
The arguments put forth by NN Taleb do seem logically thought out and present a refreshing read. If nothing, then at least the book will prod us to think again the claims that we make. Maybe it make us a little more humble.
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Sumit Banerjee –
This book is quite jarring.
To a student of finance who has to read about the classical and the neoclassical theories and models of finance, this book is quite jarring. I must accept that the points discussed in this book are so left-field, they are bound to induce cognitive dissonance.
However, the points raised in the book cannot be ignored either. Behavioral finance does break down the classical finance theories about the rational man. But this book piles on it and proclaims that the models used in finance till now are fitted on the past data and have little predictive power over the future trends. That these models can only be successful in a short period of time till the black swan incident wipes it all down.
The arguments put forth by NN Taleb do seem logically thought out and present a refreshing read. If nothing, then at least the book will prod us to think again the claims that we make. Maybe it make us a little more humble.