Fooled by Randomness: The Hidden Role of Chance in the Markets and in Life (repost)
Fooled by Randomness: The Hidden Role of Chance in the Markets and in Life by Nassim Nicholas Taleb
English | 2002 | ISBN-10: 1587990717 | scan PDF | 220 pages | 9 MB
English | 2002 | ISBN-10: 1587990717 | scan PDF | 220 pages | 9 MB
In this look at financial luck, hedge fund manager Taleb (Dynamic Hedging) addresses the apparently irrational movement of money markets around the world. Using his own investing experience and examples of others' successes and disappointments, he discusses theories like Monte Carlo math (easy; considered cheating by purists) and the concept of Russian roulette.
Taleb tells interesting, well-wrought stories about individual behavior: "While Nero has succeeded beyond his wildest dreams, both personally and intellectually, he is starting to consider himself as having missed a chance somewhere." While serious investors and mathematics enthusiasts will be intrigued, readers looking for practical investment strategies will be disappointed by this rambling intellectual discourse.