Fooled by Randomness

"Fooled by Randomness" explores how people often interpret chance as skill, especially in areas like finance or success stories. It explains that randomness plays a significant role in outcomes, yet humans tend to see patterns or cause-and-effect where none exist. This can lead to overconfidence, mistaken beliefs about abilities, or misjudging luck for talent. The book emphasizes the importance of understanding randomness to make better decisions, recognize luck's influence, and avoid misleading narratives—especially when success or failure can largely be attributed to chance rather than skill.