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…
Trial, Error, and Success
by
Sima Dimitrijev, PhD,
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…
From an early age, I had an insatiable curiosity. I questioned organized religion. I wondered why people can’t get along and why wars were fought over personal ideas and beliefs. Additionally, early in life, I had multiple physical and psychological spiritual experiences that kept my wonder and searching alive. My curiosity took me on a journey of self-discovery. I studied the ontology of language and became certified as a structural integration body/mind therapist and mediator. Each of the suggested books played a role in awakening me and providing tools to become a better human being. I hope the books inspire you.
I was mesmerized by this book. As a historian and philosopher, Yuval presents a unique perspective on how we humans evolved over the last 700,000 years. I was drawn to his focus on the power of stories as the bedrock of the cultures and societies we have created and live in.
He presents great examples of how stories shaped history and how we came to create large-scale communities based on common beliefs and mythologies.
The book also resonated with my interest in stories as one of the four fundamental conversations that constitute our everyday conversations and interactions.
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…
As an attorney, former TV broadcaster, and workplace consultant, I’ve devoted my career to empowering women and confronting systemic inequities. My passion stems from personal experience navigating the complexities of workplace harassment, which inspired me to write my book and guide others through similar challenges. I am continually drawn to books that illuminate the hidden power structures and offer practical tools for resilience, empowerment, and self-advocacy. The works on this list have profoundly shaped my perspective, providing inspiration and clarity in both my professional and personal journey. I hope they resonate with you as deeply as they have with me.
This book completely reframed how I see the world. Perez dives into the pervasive gender data gaps that impact everything from workplace policies to public health. Her meticulous research and compelling examples made me realize how much of our world is designed without women in mind. It’s equal parts infuriating and enlightening, and it left me determined to question systems that perpetuate inequality.
This book is a must-read for anyone who wants to understand the hidden ways gender bias shapes our lives.
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.
I’ve spent my entire life dealing with mental health issues, and overcoming them took me on a long journey of learning about the mind and how to make it work for us rather than against us. I’ve explored almost every modality out there and developed my own hypnosis modality as a result. Books like these were a key part of helping me figure out how to overcome my challenges and live life to the fullest, achieve my goals, and reach success.
It wasn’t until reading this book that I realized how important it was to focus on the fast, instinctive part of our mind. Getting that initial judgment and reaction right makes everything else easier. Too often, I found myself wanting to understand things logically and rationally, assuming that my instincts and emotions were simply wrong.
This book helped me understand how useful both systems were and how to leverage them to achieve my goals faster and more effectively.
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,…
The world of entrepreneurship has been my driving passion for decades. Why? It is entrepreneurs, despite their many quirks, who make the world a better place. It’s entrepreneurs who create jobs in a world where jobs in many places are in short supply. It’s entrepreneurs who wake up every day with a passion to forge their own path with the freedom to do so. And it’s why I embarked at mid-life on a second career as a business-school professor. It’s why I teach and why I write. The books I suggest here will give you a fighting chance to deal effectively with the challenges you’ll surely find along your entrepreneurial journey.
Jim Collins’ best book is the most pragmatic and most useful business book I’ve ever read. Period. From “getting the right people on the bus” to “the hedgehog concept” and more, the fundamentals entailed in creating a truly great business are all here. What more need I say?
________________________________ 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…
I work in the venture capital (finance) space but have a long-time passion for and involvement with charity and philanthropy work, having founded several non-profits including most recently Lever Foundation which works to create a more humane and sustainable food system in Asia. I’m a big believer in and advocate for applying quantitative, analytical thinking and an outcome-focused mindset to efforts to make the world a better place. It’s something I think about every day, and it’s what I write about as well.
Ray Dalio is one of the most successful hedge fund managers of all time. You might ask what that has to do with doing good in the world, but I think it’s abundantly clear that many of the same principles and approaches that lead to quantifiable success in the business world can contribute to increased success in efforts to make the world a better place.
I don’t agree with Dalio on everything, but I found his core messages such as focusing on results, being direct and candid with colleagues, weighing the credibility of someone’s opinion based on their history of performance, and continually reassessing and adjusting our approach, very wise and a way of thinking and working that is too often absent in the charity sector.
"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’ve spent my career studying the paradox that low-risk investing can lead to high returns. As an author and a multi-billion-dollar fund manager, I’ve seen firsthand how markets reward patience, discipline, and avoiding unnecessary risks. These books shaped my thinking—challenging conventional wisdom, deepening my understanding of risk, and reinforcing why defensive investing works. I love uncovering ideas that go against the grain, especially when they’re backed by data. Whether you’re an investor or just fascinated by how we make decisions under uncertainty, these books will change the way you see markets—and maybe even the way you invest.
Bogle’s philosophy is simple yet powerful: focus on the long term, keep costs low, and let compounding do the heavy lifting. I’ve always believed that great investing is about avoiding unnecessary risks and staying disciplined, and Bogle’s book distills that wisdom better than anyone else.
While I take a different approach than pure indexing, his principles of cost efficiency and long-term thinking are universal. Every investor—whether a stock picker or a passive indexer—should read this book at least once.
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…
I was recruited right out of college to work at one of the largest data firms in the US., I went from new grad to consulting director in record time. Along the way, I read each of these books, which all played a critical part in my development and ability to continually adapt. Society only gets better if we collectively become better humans, and reading books, sharing ideas, discussing, and ultimately testing plans of action is how we get there. We’re all in this together, and the more we read and share great ideas, the better we are all going to be in the long run.
I loved this book because the author has such an incredible, authentic voice. Being a professional poker player turned consultant; she helps readers get comfortable with not knowing the outcome, being uncertain, and ultimately getting used to the idea of placing bets.
I loved the book because it helped me relax. Rather than stressing if the countless decisions I made every day were the right ones, it helped me see that I was making bets, running experiments, and constantly testing what worked. It helped me take myself less seriously, and it helped me see that even if an experiment failed, it would provide valuable learning and growth. As she references from her time on the world poker circuit, losing is not the end of it as long as you learn from your losses.
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%…
