Money psychology2001
Fooled by Randomness
Nassim Nicholas Taleb
Helps investors separate skill from luck, understand outcome bias, and stay cautious with strategies that only look good in short samples.
Core ideas
Idea 1
Separate skill from luck.
Idea 2
Identify bias before deciding.
Idea 3
Design rules against emotional reactions.
Idea 4
Judge process rather than outcome alone.