Nassim Nicholas Taleb's "Fooled by Randomness -Book Summary

Nassim Nicholas Taleb's "Fooled by Randomness" argues that luck significantly impacts success, more than people realize. The book highlights cognitive biases like survivorship bias, where only successful outcomes are considered, and the problem of induction, where past trends are wrongly assumed to continue. Taleb emphasizes the unpredictability of markets and the impact of rare, high-impact events ("fat tails"). He advocates for a stoic approach, accepting the uncontrollable aspects of life, and preparing for unexpected events to build resilience. Ultimately, the book urges readers to acknowledge and adapt to randomness rather than attempting to control it.