Fooled by Randomness

The Hidden Role of Chance in Life and in the Markets

By: Nassim Nicholas Taleb

Narrated by: Sean Pratt

Length: 10 hrs and 3 mins

Publisher's summary

This audiobook is about luck, or more precisely, how we perceive and deal with luck in life and business. It is already a landmark work and its title has entered our vocabulary. In its second edition, Fooled by Randomness is now a cornerstone for anyone interested in random outcomes.

Set against the backdrop of the most conspicuous forum in which luck is mistaken for skill, the world of trading, this audiobook is a captivating insight into one of the least understood factors of all our lives. In an entertaining narrative style, the author succeeds in tackling three major intellectual issues: the problem of induction, the survivorship biases, and our genetic unfitness to the modern word. Taleb uses stories and anecdotes to illustrate our overestimation of causality and the heuristics that make us view the world as far more explainable than it actually is.

The audiobook is populated with an array of characters, some of whom have grasped, in their own way, the significance of chance: Yogi Berra, the baseball legend; Karl Popper, the philosopher of knowledge; Solon, the ancient world's wisest man; the modern financier George Soros; and the Greek voyager Ulysses. We also meet the fictional Nero, who seems to understand the role of randomness in his professional life, but who also falls victim to his own superstitious foolishness.

But the most recognizable character remains unnamed, the lucky fool in the right place at the right time - the embodiment of the "Survival of the Least Fit". Such individuals attract devoted followers who believe in their guru's insights and methods. But no one can replicate what is obtained through chance.

It may be impossible to guard against the vagaries of the Goddess Fortuna, but after listening to Fooled by Randomness we can be a little better prepared.

©2004 Nassim Nicholas Taleb (P)2008 Gildan Media Corp

Critic reviews

"[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." (Malcolm Gladwell, The New Yorker)
"An articulate, wise, and humorous meditation on the nature of success and failure that anyone who wants a little more of the former would do well to consider." (Amazon.com)

amazing!

clear and easy to understand. really shows the flaws in humans at scale. great work!

truth

book speaks alot of truth about randomness but is missing a connection with audience

One of the most influential books of my life.

I read it in one sitting the first time 10 years ago. be willing to listen when an open mind, wrestle with the ideas and premises and make them your own. Now that I have this on Audible I will probably listen to it annually.

A perspective worth seeing

Most professionals in any field would benefit from this book. Due to experience, I can say for certain, ALL investors and investment advisors should read this book. In the investment field, perhaps more than any other field, randomness's role cannot be overemphasized. What that leaves us with, is the difficult job of separating superiority from luck. If you do not understand how randomness hides, you don't stand a chance. Unless you're lucky!

Embrace Randomness!

Great insight. Great performance by Sean Pratt. Get it along with The Black Swan and my favorite Antifragile.

This is one of the most arrogant books I’ve ever read

Nassim Taleb ranting about how stupid his finance industry peers are. I don’t understand how this is a best seller. Very arrogant academic rant.

Worth the effort

What made the experience of listening to Fooled by Randomness the most enjoyable?

I enjoyed the subject but the author doesn't organize the content very well, so it takes some effort to get what he's saying. I may read it again.

Who was your favorite character and why?

Nero Tulip

Have you listened to any of Sean Pratt’s other performances before? How does this one compare?

Sean Pratt was not the narrator of my audio book. It was narrated by Lloyd James. I thought the narrator did a good job.

Love the book and narration, the sound tech needs a kick in the pants

Fooled, Swan, and anti-fragile are mind bendingly awesome. Period. This sound tech on this one though, needs to work on their skills a bit. The blank spaces left me wondering if I’d hit pause at every chapter and section change. Sigh. I am not a fan, I am a title sharing fiend for Nassim.

Very informative book

This is very good book. Easy to listen. Lots of information on statistics and probabilities.

Meandering Brilliance

The value of the book is in direct proportion to the information you choose to use. If you tend toward inaction and seek to be entertained, don't buy. If you are easily offended do not buy. Lastly, if you are looking for intellectually rigorous arguments about randomness DO NOT BUY. But... if you want to form a better understanding of human error and it's reliability. BUY NOW!