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
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. Download and start listening now!