Fooled by Randomness
Nassim Nicholas Taleb · 2001
Taleb's first and purest book, written while he was still a trader: on how luck masquerades as skill, why the loudest performers are often the luckiest, and how markets punish those who confuse the two. The Incerto began here, before the fame. Its hero is humility; its villain is the dentist next door who mistook a bull market for genius.
The case against
Taleb's contempt arrives before his arguments and lingers after them; every anecdote has a fool, and the fool is never Taleb. The book circles its one great idea, that luck reads as skill, from a dozen angles without quite building on it. Read it for the idea and the swagger; just know the swagger is aimed at you.
Business & Investing · the Pro canon
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