Fooled By Randomness

The hidden role of chance in life and markets

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This book has a lifetime of good advice. Nassim has a way of packaging his messages that linger long after they're read. Here's two of his lessons that stuck with me: 1. What one observes is at best a combination of variance and returns, not just returns. 2. There is a saying that bad traders divorce their spouse sooner than abandon their positions. Loyalty to ideas is not a good thing for traders, scientists - or anyone
@mazzeo second message is fascinating.