Marcis’s Reviews > Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets > Status Update

We frequently mistake random chance for skill, particularly in life and financial markets.

The book highlights how unexpected events, like Black Swans, can lead to significant swings.

It's important not to be misled by short-term wins or losses because there are things we simply can't predict or control.

Humans tend to seek patterns and explanations even when events are purely random.

Journalists are not objective source of information. (useless, inaccurate Noise)
Most of things in life are random and nonlinear.
Past experiences can’t be indicators of future predictions. It is simply a collection of random outcomes.
Survivorship bias - we see the fittest survivors not the losers.
Your success is relative to your surroundings.