I really enjoyed this book, although trying to listen to it AND doing whatever is a little tough; requires some thought or multiple listenings. It's an easier read than his other book, The Black Swan, but what great information and what a cogent system he has worked out. I highly recommend it.
An eye opening and thought provoking book. Essential for anyone interested in the stock market, but also for those involved in science.
After nearly 2 hrs of listening I had to give up. There are endless teasers about "what's to come" but very little is ultimately delivered. What little there is comes capped by unbelievable shoddiness: "and I imagine that few of those people today are . . ." How about doing a little investigating and THEN writing a book? Random House published this "outline for a book" and fooled us all.
Do I have to give it a star? I wonder what book the positive reviewers listened to. I wish I had bought that one instead. I have to admit that there was fair warning in the opening pages that what was to follow would be a stream-of-consciousness opinionated diatribe without the slightest foundation of research or reason. I cannot decide whether the narrator's smarminess was artistic contribution or an unavoidable consequence of reading these empty egotistical prattlings.
Read "The Drunkard's Walk: How Randomness Rules Our Lives" by Leonard Mlodinow instead, if you prefer to be entertained or enlightened by the subject, but still don't want to do any math.
In this book, among other things, Taleb tries too hard to prove that he's personally made it, perhaps, as an evidence of his "hyper conservative" approach to investing. I'm sure he knows that had he started his carrier in early 1930s, he would be broke before he had the opportunity to write a book about hyper conservatism. His obsession with randomness to the point of elevating it to "the reason" for almost anyone's success is border line absurd. He argues that a group of incompetent investors (20% win, 80% loss) can produce a few winners by pure luck, but he seems to ignore the other side of the argument. A group of highly competent investors (80% win, 20% loss) will produce the same results over time. The end result can not be used to label everybody a lucky fool. A competent investor will be the victim of own success since everybody will imitate his strategy causing opportunists to diminish hence requiring ever greater risk taking to match previous earnings. This endless re-use of the same formula for success is what ultimately will do him in.
In another example, he sees Microsoft vs. Apple dominance in personal computers as another random luck. Perhaps he despises economists so much he's forgot to apply basic economics to the situation. Apple didn't succeed not because people didn't know how great it was, it didn't because it was too expensive and people, myself included, couldn't afford it.
If you see randomness everywhere you look, stop looking. Making fun of business people because they're too uptight is not too convincing when it comes from somebody who has the luxury of pondering philosophical points while sipping latte in a cafe near by a Swiss ski resort. He just needs to be thankful for how lucky he is, period.
The book was for me, a 'black swan experience'. Audible's statistical rating system does not allow for due credit. I would have given it 10 stars!
The book has some good points and interesting thoughts but it is difficult to get by how much the author clearly thinks he is better then anyone else. This book is not worth the listen.
the ideas in the book are good but not enough examples from real life trading. I heard most of the ideas in other books
not a lot of new ideas and not enough personal stories and trading expriences
A fun and fascinating tour of the terrain of randomness. The narrator does an excellent job of conveying the author's acerbic wit.
I enjoyed this title as an audiobook rather than print addition. Conversely, the author's book on Black Swan events was better read than listened to.
Say Less, Mean More?
Nassim Taleb distills his thoughts as he writes the subsequent works. Fooled By Randomness becomes a appendix to The Black Swan. The depth of knowledge, and the tremendous economic style of writing just impressed me to the point that I knew I would read whatever came next.
How over the years the ideas from Fooled By Randomness were further distilled and then rewritten to become The Black Swan; which ultimately evolves into AntiFragile which I think is a tremendous work.
I had already read the book a few years ago, and listened to the performance over an extended trip. I enjoyed the performance, and don't think having read it prior diminished it in any way.
The ideas were great, and i made me wish I could learn more about randomness in regard to statistics and probability.
I have come to think of Nassim Taleb as one of the premier thought leaders of our time.