Monday, August 04, 2008

Book: Fooled By Randomness

Clearly the author has a bone to pick with his former colleagues on Wall St. and he obviously irritated some of them along the way with what is clearly a decent sized ego, but then again, sometimes when you're right, you're right.

Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets is how we delude ourselves into thinking we're good or that we understand situations more than we actually do.

He dives deep into statistics and philosophy (but in an understandable way) to educate you on how much luck actually plays into our daily lives...and how we should not delude ourselves into thinking that there are no "black swans."

I found the book very enjoyable and it has definitely already made its way into my mental vernacular.

I think it'll make you a smarter investor and potentially a more astute judge of context and situations. Never a bad thing.

And a big call out to my future brother-in-law, Eitan, for lending it to me. Way to get in with the family! ;-)

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