Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets
- Book
- 2001
- #Risk #DecisionMaking
Book

Number of Pages: 368
ISBN: 0812975219
ISBN-13: 9780812975215
Recommended by

He is also famous for The Black Swan: The Impact of the Highly Improbable, Antifragile: Things That Gain from Disorder, and Fooled by Randomness: The Hidden Role of Chance in Life and Markets, all of which are worth reading.

I used to recommend that order too, but I think for people new to NNT, they'd get a better overview of his ideas from Antifragile. But I absolutely recommend reading all the Incerto.

36/ To learn more about the concepts in this thread, I recommend Nassim Taleb's Fooled By Randomness -- a wonderful book about how the principles of probability apply to investing and life in general. Here's a relevant extract from the book (h/t @nntaleb):

[Taleb is] Wall Street’s principal dissident. . . . [Fooled By Randomness] is to conventional Wall Street wisdom approximately what Martin Luther’s ninety-nine theses were to the Catholic Church.


Fooled by Randomness. Why would I read a book about random stuff that can't be understood? Because it will teach you how to know what can, and cannot, be understood. Which will save you a lot of time and emotional capital.
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Fooled by Randomness is a standalone book in Nassim Nicholas Taleb’s landmark Incerto series, an investigation of opacity, luck, uncertainty, probability, human error, risk, and decision-making in a world we don’t understand. The other books in the series are The Black Swan, Antifragile, Skin in the Game, and The Bed of Procrustes.