SUMMARY - Fooled By Randomness: The Hidden Role Of Chance In Life And In The Markets By Nassim Nicholas Taleb

Book excerpt: * Our summary is short, simple and pragmatic. It allows you to have the essential ideas of a big book in less than 30 minutes. By reading this summary, you will learn how to better take chance into account when making decisions. You will also learn : that the human being is not gifted to think rationally; that economists, journalists and traders are not as reliable as they seem; that success is not necessarily synonymous with competence or intelligence; how best to deal with unpredictability; how to become wiser. Chance, sometimes called luck or fate, is an unavoidable parameter of events and life itself. However, human beings persist in wanting to reduce its importance, believing in their arrogance to be able to control it, or even make it disappear. Experts of all stripes, traders and even economists thus boast of predicting the future... until they are wrong, which inevitably happens. Since chance is surely stronger than human reason, it would be wiser to be humble. If man is irremediably fallible and incapable of thinking correctly, would it not be better to take this limitation into account, rather than trying to fight it? Discover some keys to do so! *Buy now the summary of this book for the modest price of a cup of coffee!