Money and Finance
From The Most Important Thing:
Related book: Fooled by Randomness
- Luck And Skill Untangled: The Science Of Success
Found via The Big Picture. The world around us is a capricious and often difficult place. But as we have developed our mathematical tools with increased sophistication, we have in turn improved our ability to understand the world around us. And...
- Nassim Taleb On Econtalk
Nassim Taleb, author of Fooled By Randomness and The Black Swan, talks with EconTalk host Russ Roberts about antifragility, the concept behind Taleb's next book, a work in progress. Taleb talks about how we can cope with our ignorance and uncertainty...
- Nassim Taleb On Stoics And Stoicism
From Fooled by Randomness:"Having control over randomness can be expressed in the manner in which one acts in the small and the large. Recall that epic heroes were judged by their actions, not by the results. No matter how sophisticated our choices, how...
- Randomness And The Lost Lesson Of Bill Miller
A related quote from Nassim Taleb that I posted on Twitter this morning: “Recall that the survivorship bias depends on the size of the initial population. The information that a person derived some profits in the past, just by itself, is neither meaningful...
- Cnbc: Predicting Crisis: Dr. Doom & The Black Swan
Nouriel Roubini and Nassim Taleb on CNBC:-Part 1-Part 2-....................-Related books: -The Black Swan: The Impact of the Highly Improbable (Also available in an Audio Book)-Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets...
Money and Finance
Howard Marks quote
From The Most Important Thing:
The investment world is not an orderly and logical place where the future can be predicted and specific actions always produce specific results. The truth is, much in investing is ruled by luck. Some may prefer to call it chance or randomness, and those words do sound more sophisticated than luck. But it comes down to the same thing: a great deal of the success of everything we do as investors will be heavily influenced by the roll of the dice.
To fully explore the notion of luck, in this chapter I want to advance some ideas expressed by Nassim Nicholas Taleb in his book Fooled by Randomness. Some of the concepts I explore here occurred to me before I read it, but Taleb’s book put it all together for me and added more. I consider it one of the most important books an investor can read.................
Related book: Fooled by Randomness
- Luck And Skill Untangled: The Science Of Success
Found via The Big Picture. The world around us is a capricious and often difficult place. But as we have developed our mathematical tools with increased sophistication, we have in turn improved our ability to understand the world around us. And...
- Nassim Taleb On Econtalk
Nassim Taleb, author of Fooled By Randomness and The Black Swan, talks with EconTalk host Russ Roberts about antifragility, the concept behind Taleb's next book, a work in progress. Taleb talks about how we can cope with our ignorance and uncertainty...
- Nassim Taleb On Stoics And Stoicism
From Fooled by Randomness:"Having control over randomness can be expressed in the manner in which one acts in the small and the large. Recall that epic heroes were judged by their actions, not by the results. No matter how sophisticated our choices, how...
- Randomness And The Lost Lesson Of Bill Miller
A related quote from Nassim Taleb that I posted on Twitter this morning: “Recall that the survivorship bias depends on the size of the initial population. The information that a person derived some profits in the past, just by itself, is neither meaningful...
- Cnbc: Predicting Crisis: Dr. Doom & The Black Swan
Nouriel Roubini and Nassim Taleb on CNBC:-Part 1-Part 2-....................-Related books: -The Black Swan: The Impact of the Highly Improbable (Also available in an Audio Book)-Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets...