
Fooled by Randomness
The Hidden Role of Chance in Life and in the Markets
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Narrated by:
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Sean Pratt
About this listen
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 CorpListeners also enjoyed...
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In this groundbreaking work, evolutionary biologist Jared Diamond stunningly dismantles racially based theories of human history by revealing the environmental factors actually responsible for history's broadest patterns. It is a story that spans 13,000 years of human history, beginning when Stone Age hunter-gatherers constituted the entire human population. Guns, Germs, and Steel is a world history that really is a history of all the world's peoples, a unified narrative of human life.
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Badly Abridged
- By Carol L. on 09-19-06
By: Jared Diamond
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Reminiscences of a Stock Operator
- By: Edwin Lefevre
- Narrated by: Rick Rohan
- Length: 9 hrs and 52 mins
- Unabridged
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First published in 1923, this lightly fictionalized biography of Jesse Livermore, one of the greatest market speculators ever, is widely regarded as one of best investment books of all time. Reminiscences of a Stock Operator is the resource that generations of investors have turned to when they needed deeper insight into their own investing habits and those of others. Listen to this work, featuring narrator Rick Rohan, and you'll soon discover your portfolio growing in new and unexpected ways!
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OUTSTANDING
- By XEVEN on 11-21-09
By: Edwin Lefevre
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A Man for All Markets
- From Las Vegas to Wall Street, How I Beat the Dealer and the Market
- By: Edward O. Thorp, Nassim Nicholas Taleb - foreword
- Narrated by: Edward O. Thorp
- Length: 16 hrs and 30 mins
- Unabridged
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The incredible true story of the card-counting mathematics professor who taught the world how to beat the dealer and, as the first of the great quantitative investors, ushered in a revolution on Wall Street.
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A life of a genius
- By Oleksiy Volovik on 05-08-17
By: Edward O. Thorp, and others
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A Brief History of Everyone Who Ever Lived
- The Human Story Retold Through Our Genes
- By: Adam Rutherford
- Narrated by: Adam Rutherford
- Length: 12 hrs and 13 mins
- Unabridged
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In our unique genomes, every one of us carries the story of our species - births, deaths, disease, war, famine, migration, and a lot of sex. But those stories have always been locked away - until now. Who are our ancestors? Where did they come from? Geneticists have suddenly become historians, and the hard evidence in our DNA has completely upended what we thought we knew about ourselves. Acclaimed science writer Adam Rutherford explains exactly how genomics is completely rewriting the human story - from 100,000 years ago to the present.
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I wish this book was in American high schools.
- By melody sheldon on 03-31-19
By: Adam Rutherford
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Irrational Exuberance
- Revised and Expanded Third Edition
- By: Robert J. Shiller
- Narrated by: Mike Chamberlain
- Length: 13 hrs and 47 mins
- Unabridged
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With high stock and bond prices and the rising cost of housing, the post-subprime boom may well turn out to be another illustration of Shiller's influential argument that psychologically driven volatility is an inherent characteristic of all asset markets. In other words, Irrational Exuberance is as relevant as ever. Previous editions covered the stock and housing markets - and famously predicted their crashes. This edition expands its coverage to include the bond market, so that the book now addresses all of the major investment markets.
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Still Relevant After 21 Years
- By Tom on 06-08-21
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Nudge: The Final Edition
- Improving Decisions About Money, Health, and the Environment
- By: Richard H. Thaler, Cass R. Sunstein
- Narrated by: Sean Pratt
- Length: 11 hrs and 33 mins
- Unabridged
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Since the original publication of Nudge more than a decade ago, the title has entered the vocabulary of businesspeople, policy makers, engaged citizens, and consumers everywhere. The book has given rise to more than 200 "nudge units" in governments around the world and countless groups of behavioral scientists in every part of the economy. It has taught us how to use thoughtful "choice architecture" - a concept the authors invented - to help us make better decisions for ourselves, our families, and our society.
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Doesn’t include a Pdf of the images the book calls out
- By John O'Connell on 08-03-21
By: Richard H. Thaler, and others
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Antifragile
- Prosperare nel disordine
- By: Nassim Nicholas Taleb
- Narrated by: Nicola Bonimelli
- Length: 18 hrs and 35 mins
- Unabridged
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Questo audiolibro offre una nuova visione del mondo. La prospettiva che cambierà le nostre idee sulla società e ispirerà le nostre scelte quotidiane. Ci aiuterà a comprendere come il nostro corpo si protegge dalle malattie e le specie viventi si evolvono, come la libertà d'impresa crea prosperità e il genio si trasforma in innovazione.
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Please write Italian version on the title
- By FA on 11-13-21
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The Basic Laws of Human Stupidity
- By: Carlo M. Cipolla, Nassim Nicholas Taleb - foreword
- Narrated by: Paul Boehmer
- Length: 54 mins
- Unabridged
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Throughout history, a powerful force has hindered the growth of human welfare and happiness. It is more powerful than the Mafia or the military. It has global catastrophic effects and can be found anywhere from the world's most powerful boardrooms to your local bar. It is human stupidity. Carlo M. Cipolla, noted professor of economic history at the UC Berkeley, created this vitally important book in order to detect and neutralize its threat.
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What do you have to loose?
- By Andres on 04-06-21
By: Carlo M. Cipolla, and others
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Invent and Wander
- The Collected Writings of Jeff Bezos, with an Introduction by Walter Isaacson
- By: Jeff Bezos, Walter Isaacson - introduction
- Narrated by: L. J. Ganser
- Length: 8 hrs and 55 mins
- Unabridged
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In this collection of Jeff Bezos' writings - his unique and strikingly original annual shareholder letters, plus numerous speeches and interviews that provide insight into his background, his work, and the evolution of his ideas - you'll gain an insider's view of the why and how of his success. Spanning a range of topics across business and public policy, from innovation and customer obsession to climate change and outer space, this book provides a rare glimpse into how Bezos thinks about the world and where the future might take us.
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Do the right thing.
- By FULL Creative on 12-06-20
By: Jeff Bezos, and others
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A Short History of Financial Euphoria
- By: John Kenneth Galbraith
- Narrated by: Liam Gerrard
- Length: 2 hrs and 8 mins
- Unabridged
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With incomparable wisdom, skill, and wit, world-renowned economist John Kenneth Galbraith traces the history of the major speculative episodes in our economy over the last three centuries. Exposing the ways in which normally sane people display reckless behavior in pursuit of profit, Galbraith asserts that our "notoriously short" financial memory is what creates the conditions for market collapse. By recognizing these signs and understanding what causes them we can guard against future recessions and have a better hold on our country's (and our own) financial destiny.
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Good
- By SEB24 on 11-12-24
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The Perfect Speculator: How to Win Big in Up Markets and Lose Nothing in Down Markets
- By: Brad Koteshwar
- Narrated by: Virtual Voice
- Length: 4 hrs and 54 mins
- Unabridged
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Brad Koteshwar, the author of The Perfect Speculator, first came to be known for his report on a phenomenal 7000% price run in 52 weeks by Taser International's stock. When he released that report he had written for his clients as a fiction and looked for publicity in the local Arizona media, he was rebuffed as the who's who in the small but affluent communities of Arizona were all owners of Taser stocks. None of them wanted to believe that the stock price on Taser had topped out in April 2004. In this book, Brad Koteshwar continues the simple lessons of the stock market in a teacher and ...
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Creme of the creme
- By yankiel madrigal on 02-28-25
By: Brad Koteshwar
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Origin Story
- A Big History of Everything
- By: David Christian
- Narrated by: Jamie Jackson
- Length: 12 hrs and 23 mins
- Unabridged
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Most historians study the smallest slivers of time, emphasizing specific dates, individuals, and documents. But what would it look like to study the whole of history, from the big bang through the present day - and even into the remote future? How would looking at the full span of time change the way we perceive the universe, the earth, and our very existence? These were the questions David Christian set out to answer when he created the field of "Big History", the most exciting new approach to understanding where we have been, where we are, and where we are going.
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A brilliant achievement, must read/listen
- By 11104 on 09-05-18
By: David Christian
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Meditations by Marcus Aurelius: the New Translation
- By: Marcus Aurelius
- Narrated by: Virtual Voice
- Length: 4 hrs and 3 mins
- Unabridged
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Meditations by Marcus Aurelius The New Translation of a Classic Philosophical Text, Known for Self-Help to Self-Examination From the Foreword: "Marcus Aurelius Antoninus was a Roman emperor and Stoic philosopher who reigned from 161 AD to 180 AD, alongside his adoptive brother, Lucius Verus. Known as one of the Five Good Emperors, he would be the last ruler of the Pax Romana (Roman Peace), a two hundred year Golden Age of relative peace and stability. His greatest surviving work, Meditations, was written in private and for himself, a kind of self-help journal with philosophical ...
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Poor quality,
- By grad student guy on 04-14-24
By: Marcus Aurelius
What listeners say about Fooled by Randomness
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- Amazon Customer
- 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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30 people found this helpful
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- Marten
- 01-22-08
Taleb tells it like it is
An eye opening and thought provoking book. Essential for anyone interested in the stock market, but also for those involved in science.
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7 people found this helpful
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Overall
- Dean
- 05-13-08
Before the Black Swan
This book is an outstanding explanation of the randomness of markets, business, leadership, and similar myths. You really have to read/listen to this if you are looking for investment advice.
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1 person found this helpful
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- Archana
- 07-06-20
Clear thinking to recognize we are fooled by...
Nntb books continue to help me think clearly and help me self realize the fallible nature of human beings. The fact that quest is only to recognize our foolishness in this random world is the only noble one and not how to completely cute it...enjoy...
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- manish
- 11-19-20
Fooled by Randomness
It’s funny how much of ones life actually can be experienced in a different manner post listening to this book .. a beautifully written book with all the flair of a stoic seasoned trader .. loved it 👍
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- Breno Politano
- 06-07-18
crude humour, great ideas
great book. iconoclastic humour, with awesome analysis of how randomness affects our lives and the human inability to perceive that influence. criticizes how much we're stuck to causality and how much credit we give to everything. the narrator has a calm relaxing voice. highly reccommended.
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- Neil P.
- 06-29-15
Great book and narration
Glad I got the audio version. Probably would have had to look up too many words on the Kindle.
Overall, I came away with a new confidence that I can take into my own investing. I consistently get bounced around in the market and take it personally, then pull back and become a spectator.
Now I'm going to accept the licks that are handed out with the belief that the best and brightest are fighting these same battles. That and trying not to let my successes turn into a portfolio death trap in the inevitable market downturn.
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- William E.
- 03-05-21
Sometimes it's just luck...
Sometimes it's just luck... Taleb does a great job breaking of explaining that sometimes it is just luck. While there are some great insights and great analogies, the storyline was just slow for me and I had a hard time wanted to push on an finish the book.
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- M N
- 12-10-20
Through thinking
I have read most of Nassim’s books and found this one as honest and insightful as the rest.
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- crueldad
- 08-19-17
smart but conceided
A well educated author who loves tooting his own horn, and condescending others, his work is admirable, but he expresses truth about randomness but his character resonates in the book and is a turn off.
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