Nassim Taleb, who has been a hedge fund manager as well as a professor, recounts his personal experience as a major player in the markets to illustrate the impact randomness and chance play on valuations. Invoking various risk/return formulas to demonstrate the limitations of numbers, FOOLED BY RANDOMNESS delves into the unknowable aspects of what moves the markets and provides a much-needed cautionary tale for any would-be investor. First published in 2001, FOOLED BY RANDOMNESS became a national best seller as well as a must-read for those in the financial community.

The founder of a trading firm and risk management organization argues that randomness and probability have a profound influence on human life, as well as the consistent inability of humans to recognize that role, and explains how to differentiate between randomness in general and the financial markets in particular.

The founder of a trading firm and risk management organization argues that randomness and probability have a profound influence on human life, as well as the consistent inability of humans to recognize that role, and explains how to differentiate between randomness in general and the financial markets in particular.