In an unpredictable world, distinguishing between skill and luck is a complex yet crucial endeavor. This book delves into the pervasive influence of randomness on life and financial markets, challenging conventional wisdom that often attributes success solely to talent and effort. The author presents a compelling examination of how humans misunderstand chance, leading to flawed decision-making and misguided beliefs.

• Randomness profoundly affects outcomes: Many events, especially in markets, are driven by chance rather than skill.
• Survivorship bias distorts perception: Observers often focus on winners, ignoring those who failed under similar circumstances.
• Humans have a tendency...
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