Fooled by Randomness - AshokBhat/investing GitHub Wiki

About

  • Book: Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets
  • Author: Nassim Taleb
  • Published on 2001

Key ideas

  • We often mistake luck and randomness for skill and determinism
  • Repetitiveness is key for determining if you are seeing skill or randomness at play. Can't repeat it? Not skillful.
  • “Most of us know pretty much how we should behave. It is the execution that is the problem, not the absence of knowledge.”
  • We seem to focus too much on “local” changes, not global ones. That is, we care too much about the latest change rather than the overall trend.

More at https://jamesclear.com/book-summaries/fooled-by-randomness

See also