Mastering the Market Cycle: Getting the Odds on Your Side
The Mind of Wall Street: A Legendary Financier on the Perils of Greed and the Mysteries of the Market
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6 discussion topics on which David agrees with Taleb:(1) [p. 286] The sterilized randomness of games does not resemble randomness in real life; thinking it does constitutes the Ludic Fallacy (his neologism). This is exactly right, and mathematicians should pay attention. In my own list of 100 instances of chance in the real world, exactly 1 item is... See more
David Aldous • Taleb, Nassim Nicholas. The Black Swan: The impact of the highly improbable. Random House, 2007.
Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets (Incerto Book 1)
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I want to say right here about 2008 and the other crises I’ve invested through – as well as today – that I don’t reach my conclusions with confidence or act without trepidation. There’s absolutely no place for certainty in the world of investing, and that’s particularly true at turning points and during upheavals. I’m never sure my answers are righ... See more