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The World isn't what it seems. This book provides a glimpse of the hidden green code of the Matrix.

Fooled by Randomness

Fooled by Randomness

by Nassim Nicholas Taleb

Randomness, chance, and luck influence our lives and our work more than we realize. Because of hindsight bias and survivorship bias, in particular, we tend to forget the many who fail, remember the few who succeed, and then create reasons and patterns for their success even though it was largely ...

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Many systems we move and live works in linear fashion mean in sequential form, usually in one line, with every day of your work you move closer to your promotion, when you go to school you move closer to graduation, with every savings you do, you move closer to your retirement same lifestyle, and...

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We need irrationality to make certain decisions.

If we make every single of our decisions based on rational reasoning then we may not be able to survive or we will cease to exist. Not every decision or choice can be easy, some choices can be indifferent like there can be so...

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Randomness is not all bad it’s harmless too, we people need to use randomness in a better way so that it can improve our lives in better way, there are some fields which can’t work without randomness such as art, poetry, humor, books etc., author says that without randomness there will be no beau...

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Random irrational thinking can be harmful or harmless, and we must understand that harmless randomness and irrational behavior thinking will help us to make our lives better but irrational behavior attitude or randomness which is harmful will only destroy our lives. We must develop a stoic attitu...

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  • As much as we want to “keep it simple, stupid” … It is precisely the simplification of issues that are actually very complex, which can be dangerous.
  • Mild success can be explainable by skills and labour. Wild success is attributable to variance.
  • Every man believes that he is ...

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Randomness means there are some strategies that work well for any given cycle, but these cycles are often short to medium term successes. The strategies that work for a given cycle in the short term may not be the best for the long run. They are suboptimal strategies winning over a randomly benef...

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It’s better to value old, distilled thoughts than “new thinking” because for an idea to last so long it must be good. That is, old ideas have had to stand the test of time. New ideas have not. Some new ideas will end up lasting, but most will not.

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The ratio of undistilled information to distilled is rising. Let’s call information that has never had to prove its truth more than once or twice, undistilled. And information that has been filtered through many years, counter arguments, and situations is distilled. You want more distilled inform...

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Nassim Nicholas Taleb is a Lebanese-American Essayist, scholar, statistician, former trader and risk analyst, whose work Focuses on Problems of randomness, probability and uncertainty.

Fooled by Randomness deals with the fallibility of human knowledge, This book is one of the 75 smartest bo...

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