• Fooled by Randomness

  • The Hidden Role of Chance in Life and in the Markets
  • By: Nassim Nicholas Taleb
  • Narrated by: Sean Pratt
  • Series: Incerto
  • Length: 10 hrs and 1 min
  • Unabridged Audiobook
  • Release date: 01-10-08
  • Language: English
  • Publisher: Gildan Media, LLC
  • 4.5 out of 5 stars 4.3 (2,846 ratings)

Regular price: $20.72

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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
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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)
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Customer Reviews

Most Helpful
5 out of 5 stars
By Amazon Customer on 02-15-13

An Excellent and Worthwhile Book

An interesting book that is enlivened by stories of various traders and insults targeted at journalists, economists, MBAs, and philistines in general. He comes off as kind of arrogant and condesending but since I'm too thick to understand that he's talking about me, I find the irreverent tone rather enjoyable. He does a great job on a difficult topic.

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20 of 22 people found this review helpful

4 out of 5 stars
By Kazuhiko on 02-10-13

Fun to listen to

Many reviews of this book point out that the author is arrogant, and I agree, but
this arrogance probably comes from his insecurity of, after all, still being in the
financial industry that he seems to despise. He cannot get out of it.
The issue of "fooled by randomness" applies to so many aspects of life,
not just financial industry. There are some insightful comments in the book.
If you expect to learn many things from this book,
you may be disappointed. For the first couple of hours, his snideness and arrogance
bothered me, but then I began to enjoy listening to this frustrated flawed character
who occasionally speaks truth in a tragicomedy style.

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19 of 21 people found this review helpful

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Customer Reviews

Most Helpful
1 out of 5 stars
By Ben Stubbens on 02-21-17

Self righteous rambling

While the book may read well this unfortunately doesn't translate into a good audiobook. It comes across as very self righteous as he sneers at the mere mortals who don't appreciate randomness. Furthermore this book lacks any kind of structure and seems to be a collection of thoughts as they've come into the author's head. I was very disappointed

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3 of 4 people found this review helpful

5 out of 5 stars
By Adebola Egunjobi on 08-15-18

Best takeaway: l learnt why I never seem to learn.

Some reviewers have called his style arrogant. But I found him to be very self-assured, and anyway doesn't everyone look down on some other unfortunate person who just doesn't seem to "get it"?

Like every other good book I have read, the essential lessons in this one too will be forgotten with time. But one key learning will stay with me -- that despite the best intentions of all involved, including ourselves, we don't really learn from instruction; we only really learn from our own experiences, and those are often very flawed and very expensive.

So just read this one, and anything else you read, for the sheer fun of it.

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Customer Reviews

Most Helpful
4 out of 5 stars
By Cam Liston on 07-10-17

Arrogance & Interest

The supreme arrogance of NNT in this audiobook is nauseating but the content is very interesting.

The recording is great quality but the chapter breakdown is poor (long silences).

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2 of 2 people found this review helpful

2 out of 5 stars
By Anonymous User on 05-08-18

Toi much rambling

Some good thoughts here and there, but his style is too rambling and he puts others down too much. A book written by a person who likes to be smarter than everybody else.

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1 of 1 people found this review helpful

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