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 by 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; George
Soros, a modern financier; 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.
Are we capable of
distinguishing the fortunate charlatan from the genuine visionary? Must we
always try to uncover non-existent messages in random events?
Download and start listening now!