Here are 100 books that Fooled by Randomness fans have personally recommended if you like
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After graduating from the University of Illinois in 1989 with an LAS degree in communications and a knack for artwork, I had no idea what I wanted to do. That was until my brother pulled me from my low-paid art job in Chicago to work as a clerk on the floor of the Chicago Mercantile Exchange. I eventually became a trader on that same floor, as well as an oil and gas dealer in New York. Screaming and yelling in the trading pits while money moved back and forth with a shout and a hand signal I learned more about investing, trading, and human nature through osmosis than I ever could in an MBA course.
This fascinating read tells the story of the rise and then spectacular fall of the once celebrated hedge fund Long-Term Capital Management.
What made LTCM so attractive to Wall Street investors was its stable of "dream team" quants and financial minds, led by the laconic John Merriweather. Merriweather (featured in the opening Chapter of Liar's Poker) was a former Solomon Brothers bond-trading guru, who after leaving the firm amid a scandal managed to assemble a team of financial powerhouses that included two Nobel Laureates as well as a cadre of respected traders.
From 1993 to 1997 LTCM's returns were first-rate; the sky seemed the limit for this small band of supertraders, professors, and modelers who arrogantly considered themselves a cut above the rest of The Street.
But in 1998, it all came crashing down...and right quick. Having believed their financial models could accurately predict price action not just in…
Picking up where Liar's Poker left off (literally, in the bond dealer's desks of Salomon Brothers) the story of Long-Term Capital Management is of a group of elite investors who believed they could beat the market and, like alchemists, create limitless wealth for themselves and their partners.
Founded by John Meriweather, a notoriously confident bond dealer, along with two Nobel prize winners and a floor of Wall Street's brightest and best, Long-Term Captial Management was from the beginning hailed as a new gold standard in investing. It was to be the hedge fund to end all other hedge funds: a…
I have been a founder, CEO, venture capitalist, buyout specialist, Chairman, author, consultant, and coach. I’ve seen the startup world from every angle and also seen how destructive it can be if we don’t take care of our inner lives. My work now is to help people understand how we can transform ourselves to transform our businesses. These books were helpful to me when I needed them most and shaped not only my leadership approach but also my life.
Being “lonely at the top” is often a problem of being stuck inside an infinite loop of cycling voices in your head. I can get insanely maniacal about the little things and have difficulty breaking out of the cycle.
This book came at a time when I was deep in one of those cycles. It was a mind-blowing look into why we are who we are and how homo sapiens systematically took over the planet. It was such an “aha” moment for me that it made all the voices go away, and I could see why and how my life was playing out in this way.
100,000 years ago, at least six human species inhabited the earth. Today there is just one. Us. Homo sapiens. How did our species succeed in the battle for dominance? Why did our foraging ancestors come together to create cities and kingdoms? How did we come to believe in gods, nations and human rights; to trust money, books and laws; and to be enslaved by bureaucracy, timetables and consumerism? And what will our world be like in the millennia to come?
In Sapiens, Dr Yuval Noah Harari spans the whole of human history, from the very first humans to walk the…
I’m a communication professor at Fairleigh Dickinson University, a social media user, and a mom. After Donald Trump won the 2016 presidential election, I wrote an op-ed for CNN arguing that he’d won the election on social media, and I just never stopped writing. A few hundred op-eds and a book later, I’m still interested in what social media is doing to us all and the issues women are up against in our society. My book allowed me to explore how social media is impacting every single aspect of the lives of women and girls and exactly what we can do about it. I wrote it as a call to arms.
The opening of this book about how public transport systems have been designed to get men where they need to go (to the city center for work) but not women where we often go (all over neighborhoods caring for people) just blew my mind.
I loved how Criado Perez challenges so many things we take for granted – like why you can go out with a client after work and expense your steak and drinks but not the babysitter you have to hire. Her explanations of how the world is basically designed for men helped me understand why the voice control system in my car never seems to understand me and why there’s always a line for the ladies’ room.
Winner of the 2019 Financial Times and McKinsey Business Book of the Year Award Winner of the 2019 Royal Society Science Book Prize
Data is fundamental to the modern world. From economic development, to healthcare, to education and public policy, we rely on numbers to allocate resources and make crucial decisions. But because so much data fails to take into account gender, because it treats men as the default and women as atypical, bias and discrimination are baked into our systems. And women pay tremendous costs for this bias, in time, money, and often with their lives.
My core value is realistic education—learning from each other’s errors and successes, but with full awareness of the difference between the determined past and the uncertain future. We can benefit from uncertainty, which I’ve been doing for a living as an engineer, academic researcher, and inventor. I make use of knowledge and science as much as possible, but I also know that strategic decisions for the uncertain future require skepticism and thinking to deal with the differences in a new circumstance. With my core value, I am passionate about sharing insights and knowledge that our formal education does not provide.
Everything in nature evolves by trial, error, and success—from fundamental physics, through evolution in biology, to how people learn, think, and decide.
This book presents a way of thinking and realistic knowledge that our formal education shuns. Stepping beyond this ignorance, the book shows how to deal with and even benefit from uncertainty by skeptical thinking, strategic decisions, and teamwork based on enlightened self-interests.
This bottom-up thinking is thought-provoking for leaders who wish to build teams rather than herds. The insights in the book will help you to be better prepared for the unexpected, less likely to conform when you…
Trial, Error, and Success: 10 Insights into Realistic Knowledge, Thinking, and Emotional Intelligence
Everything in nature evolves by trial, error, and success. They didn't teach you this in school, even though you should know why the rigid laws of physics don't rule nature and don't inhibit your free-will decisions to try, fail, and succeed. As a guide to success, this book shows how skepticism, prudent use of science, and thinking lead to strategic decisions for the uncertain future.
Presenting real-life examples, the thinking in the book combines sharp analyses with broad analogies to show:
How to identify realistic knowledge and avoid harm due to overgeneralized concepts.
How to create new knowledge and solve…
I try to use my platform to help people consider how to live a more meaningful life. I've made mistakes, learned from them, and want to pass on those lessons. There are many definitions of success and fulfillment and many paths to achieve it. I hope by telling my story others can avoid some of the mistakes I made.
Professor Kahneman’s ideologies on decision-making have helped me in business and my personal life.
His insights have enhanced my decision-making process and helped me navigate the strait between instinct and decision. His insights have encouraged me to delegate routine decisions, allowing me to reserve my mental energy for the most critical choices.
The phenomenal international bestseller - 2 million copies sold - that will change the way you make decisions
'A lifetime's worth of wisdom' Steven D. Levitt, co-author of Freakonomics 'There have been many good books on human rationality and irrationality, but only one masterpiece. That masterpiece is Thinking, Fast and Slow' Financial Times
Why is there more chance we'll believe something if it's in a bold type face? Why are judges more likely to deny parole before lunch? Why do we assume a good-looking person will be more competent? The answer lies in the two ways we make choices: fast,…
I was the Head Coach of the Punahou School Boys Varsity Tennis Team for 22 years, and we were fortunate to win 22 consecutive State Championships. Since retiring as head coach in 2015, I felt compelled to become an author and share my system of coaching excellence which led to this unprecedented winning streak. I know there are distinct differences between great and superior which can be applied to everyone in business, sports, and life. I want to inspire everyone to maximize their potential and have peak performance as a parent, son or daughter, coach or player, leader or team member.
I loved this book because we all want to achieve greatness, and it clearly identifies practices, strategies, and habits that can take a good team and make them great. It’s a reminder for me to be disciplined as a person, control myself with disciplined thoughts, and exhibit disciplined actions.
I like how Jim Collins emphasizes strategic focus, disciplined decision-making, and the importance of sustained excellence for long-term success. His "Hedgehog Concept" is a great reminder for me to reflect on what I’m deeply passionate about, what I can be the best at, and what drives my economic engine.
________________________________ Can a good company become a great one? If so, how?
After a five-year research project, Jim Collins concludes that good to great can and does happen. In this book, he uncovers the underlying variables that enable any type of organisation to make the leap from good to great while other organisations remain only good. Rigorously supported by evidence, his findings are surprising - at times even shocking - to the modern mind.
Good to Great achieves a rare distinction: a management book full of vital ideas that reads as well as a fast-paced novel. It is widely regarded…
As a student of the markets and investing for 3 decades and a professional investment advisor overseeing billions of dollars for over 2 decades, I have discovered that most investment books and information lack real insight. Much of what I read and see is not thoughtful or deeply researched and merely a regurgitation of what everyone else is saying. I’ve learned that most of what is thought to be conventional thinking is remarkably poorly supported by independent, unbiased research. The books on my recommended list go beyond what you’d read in the average investment book to uncover truly insightful knowledge that I believe can help readers take their investment understanding to the next level.
I love this book because Ray is a master at building, evaluating, and improving systems and has taken the time to share his insights to help others do the same.
The principles he’s identified and described can simultaneously assist any investor to construct a better portfolio and any person to live a more successful and fulfilling life. This book offers a unique opportunity to learn from one of the most insightful people in history.
"Significant...The book is both instructive and surprisingly moving." -The New York Times
Ray Dalio, one of the world's most successful investors and entrepreneurs, shares the unconventional principles that he's developed, refined, and used over the past forty years to create unique results in both life and business-and which any person or organization can adopt to help achieve their goals.
In 1975, Ray Dalio founded an investment firm, Bridgewater Associates, out of his two-bedroom apartment in New York City. Forty years later, Bridgewater has made more money for its clients than any other hedge fund in…
When I was younger, I got into a lot of trouble. Many good-hearted people helped me. In part, this inspired me to become a clinical psychologist. When I was in graduate school at Harvard, I became disillusioned with clinical psychology and inspired to figure out why people are motivated to help others. During this process, a lecturer from the Biology Department, Robert Trivers, approached me and we exchanged drafts of papers we were writing. Trivers’ ideas caused me to see altruism and morality in an entirely different, and much more valid, way. In Survival of the Virtuous I demonstrate how psychological findings on altruism and morality can be gainfully interpreted from an evolutionary perspective.
More than thirty years ago, when I was conducting research on the psychology of altruism and moral development, a biologist recommended that I read The Selfish Gene.
Reading Dawkins’ book caused me to change my theoretical orientation completely. It enabled me to see that if I wanted to understand altruism and morality, I needed to understand how the genes that guide the construction of the mental mechanisms that cause us to help others evolved.
Although the title of the book implies that we are selfish by nature, the contents explain how selfish genes can guide the development of unselfish animals.
The million copy international bestseller, critically acclaimed and translated into over 25 languages.
As influential today as when it was first published, The Selfish Gene has become a classic exposition of evolutionary thought. Professor Dawkins articulates a gene's eye view of evolution - a view giving centre stage to these persistent units of information, and in which organisms can be seen as vehicles for their replication. This imaginative, powerful, and stylistically brilliant work not only brought the insights of Neo-Darwinism to a wide audience, but galvanized the biology community, generating much debate and stimulating whole new areas of research. Forty…
I have over four decades of experience working and innovating in the financial markets and have been a prolific contributor to academic and practitioner finance literature. I started my career at Salomon Brothers in 1984, where I became a managing director in the bond-arbitrage group, and in 1993 I was a co-founding partner of the hedge fund Long-Term Capital Management. I founded Elm Wealth in 2011 to help clients, including my own family, manage and preserve their wealth with a thoughtful, research-based, and cost-effective approach that covers not just investment management but also broader decisions about wealth and finances.
I loved how this “Little Book" gets right to the point and explains why every investor should include low-cost index ETFs in their portfolios. This is a great guide for beginners and old hands alike. It is a book devoted to simplicity.
I loved Bogle’s “Cost Matters Hypothesis” which is simpler and more relevant than the also important “Efficient Markets Hypothesis” that is taught in Finance 101 classes.
I felt this book empowered me to take control of my financial life. It’s a book I always recommend to people who are looking to improve their financial lives. I learned a lot from Vanguard founder John Bogle's 80+ years of experience and wisdom. Invest just 60 minutes in this book and reap a lifetime of informed, confident investing decisions.
The best-selling index investing "bible" offers new information and is updated to reflect the latest market data The Little Book of Common Sense Investing is the classic guide to getting smart about the market. Legendary mutual fund veteran John C. Bogle reveals his key to getting more out of investing: low-cost index funds. Bogle describes the simplest and most effective investment strategy for building wealth over the long term: buy and hold, at very low cost, a mutual fund that tracks the S&P 500 Stock Index. Such an index portfolio is the only investment that guarantees your fair share of…
I’m a mathematics professor who ended up writing the internationally bestselling novel The Death of Vishnu (along with two follow-ups) and became better known as an author. For the past decade and a half, I’ve been using my storytelling skills to make mathematics more accessible (and enjoyable!) to a broad audience. Being a novelist has helped me look at mathematics in a new light, and realize the subject is not so much about the calculations feared by so many, but rather, about ideas. We can all enjoy such ideas, and thereby learn to understand, appreciate, and even love math.
A primary reason to love math is because of its usefulness. This book shows two sides of math’s applicability, since it is so ubiquitously used in various algorithms.
On the one hand, such usage can be good, because statistical inferences can make our life easier and enrich it. On the other, when these are not properly designed or monitored, it can lead to catastrophic consequences. Mathematics is a powerful force, as powerful as wind or fire, and needs to be harnessed just as carefully.
Cathy O’Neil’s message in this book spoke deeply to me, reminding me that I need to be always vigilant about the subject I love not being deployed carelessly.
'A manual for the 21st-century citizen... accessible, refreshingly critical, relevant and urgent' - Financial Times
'Fascinating and deeply disturbing' - Yuval Noah Harari, Guardian Books of the Year
In this New York Times bestseller, Cathy O'Neil, one of the first champions of algorithmic accountability, sounds an alarm on the mathematical models that pervade modern life -- and threaten to rip apart our social fabric.
We live in the age of the algorithm. Increasingly, the decisions that affect our lives - where we go to school, whether we get a loan, how much we pay for insurance - are being made…
My core value is realistic education—learning from each other’s errors and successes, but with full awareness of the difference between the determined past and the uncertain future. We can benefit from uncertainty, which I’ve been doing for a living as an engineer, academic researcher, and inventor. I make use of knowledge and science as much as possible, but I also know that strategic decisions for the uncertain future require skepticism and thinking to deal with the differences in a new circumstance. With my core value, I am passionate about sharing insights and knowledge that our formal education does not provide.
Certainty is a black-or-white concept, either zero or hundred percent; uncertainty is something between zero and hundred percent, and this grayness is a difficult concept. In the context of dealing with uncertainty and making better decisions, I find Annie Duke’s use of poker in Thinking in Betsclever for two reasons: (1) People can engage with the concept that winning or losing in a poker game is neither exact science nor pure luck. (2) Given that poker games are so different from our everyday reality, there is no danger that people would expect decision recipes for dummies.
A Wall Street Journal bestseller, now in paperback. Poker champion turned decision strategist Annie Duke teaches you how to get comfortable with uncertainty and make better decisions.
Even the best decision doesn't yield the best outcome every time. There's always an element of luck that you can't control, and there's always information hidden from view. So the key to long-term success (and avoiding worrying yourself to death) is to think in bets: How sure am I? What are the possible ways things could turn out? What decision has the highest odds of success? Did I land in the unlucky 10%…
