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| 1. CK-12 Advanced Probability and Statistics by CK-12 Foundation | |
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Asin: B0042XA308 Publisher: CK-12 Foundation Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan |
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| 2. CK-12 Calculus by CK-12 Foundation | |
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Asin: B0042XA2Y0 Publisher: CK-12 Foundation Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan |
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| 3. CK-12 Geometry by CK-12 Foundation | |
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Asin: B0042XA2Z4 Publisher: CK-12 Foundation Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan |
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| 4. CK-12 Trigonometry by CK-12 Foundation | |
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Asin: B0042XA32G Publisher: CK-12 Foundation Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan |
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| 5. The Big Book of Brain Games: 1,000 PlayThinks of Art, Mathematics & Science by Ivan Moscovich | |
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list price: $22.95 -- our price: $15.61 (price subject to change: see help) Isbn: 0761134662 Publisher: Workman Publishing Company Sales Rank: 1180 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan |
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| 6. Freakonomics Rev Ed: (and Other Riddles of Modern Life) by Steven D. Levitt, Stephen J. Dubner | |
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Editorial Review Which is more dangerous, a gun or a swimming pool? What do schoolteachers and sumo wrestlers have in common? Why do drug dealers still live with their moms? How much do parents really matter? How did the legalization of abortion affect the rate of violent crime? These may not sound like typical questions for an econo-mist to ask. But Steven D. Levitt is not a typical economist. He is a much-heralded scholar who studies the riddles of everyday life—from cheating and crime to sports and child-rearing—and whose conclusions turn conventional wisdom on its head. Freakonomics is a groundbreaking collaboration between Levitt and Stephen J. Dubner, an award-winning author and journalist. They usually begin with a mountain of data and a simple question. Some of these questions concern life-and-death issues; others have an admittedly freakish quality. Thus the new field of study contained in this book: freakonomics. Through forceful storytelling and wry insight, Levitt and Dubner show that economics is, at root, the study of incentives—how people get what they want, or need, especially when other people want or need the same thing. In Freakonomics, they explore the hidden side of . . . well, everything. The inner workings of a crack gang. The truth about real-estate agents. The myths of campaign finance. The telltale marks of a cheating schoolteacher. The secrets of the Klu Klux Klan. What unites all these stories is a belief that the modern world, despite a great deal of complexity and downright deceit, is not impenetrable, is not unknowable, and—if the right questions are asked—is even more intriguing than we think. All it takes is a new way of looking. Freakonomics establishes this unconventional premise: If morality represents how we would like the world to work, then economics represents how it actually does work. It is true that readers of this book will be armed with enough riddles and stories to last a thousand cocktail parties. But Freakonomics can provide more than that. It will literally redefine the way we view the modern world. Reviews
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| 7. Gödel, Escher, Bach: An Eternal Golden Braid by Douglas R. Hofstadter | |
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Reading Godel, Escher, Bach is like joining a club. People who see you reading it will open spontaneous conversations and often gift you with unexpected insights. (I had a fascinating conversation with a total stranger about Godel's theorem.) Wish I could give more than five stars.
As the book introduces the reader to cognitive science, the author draws heavily from the world of art to illustrate the finer points of mathematics. The works of M.C. Escher and J.S. Bach are discussed as well as other works in the world of art and music. Topics presented range from mathematics and meta-mathematics to programming, recursion, formal systems, multilevel systems, self-reference, self-representation and others. Lest you think G�del, Escher, Bach: An Eternal Golden Braid, to be a dry and boring book on a dry and boring topic, think again. Before each of the book's twenty chapters, Hofstadter has included a witty dialogue, in which Achilles, the Tortoise, and friends discuss various aspects that will later be examined by Hofstadter in the chapter to follow. In writing these wonderful dialogues, Hofstadter created and entirely new form of art in which concepts are presented on two different levels simultaneously: form and content. The more obvious level of content presents each idea directly through the views of Achilles, Tortoise and company. Their views are sometimes right, often wrong, but always hilariously funny. The true beauty of this book, however, lies in the way Hofstadter interweaves these very ideas into the physical form of the dialogue. The form deals with the same mathematical concepts discussed by the characters, and is more than vaguely reminiscent of the musical pieces of Bach and printed works of Escher that the characters mention directly in their always-witty and sometimes hilarious, discussions. One example is the "Crab Canon," that precedes Chapter Eight. This is a short but highly amusing piece that can be read, like the musical notes in Bach's Crab Canon, in either direction--from start to finish or from finish to start, resulting in the very same text. Although fiendishly difficult to write, the artistic beauty of that dialogue equals Bach's music or Escher's drawing of the same name. As good as all this is (and it really is wonderful), it is only the beginning. Other topics include self-reference and self-representation (really quite different). The examples given can, and often do, lead to hilarious and paradoxical results. In playfully presenting these concepts in a highly amusing manner, Hofstadter slowly and gently introduces the reader to more advanced mathematical ideas, like formal systems, the Church-Turing Thesis, Turing's Halting Problem and G�del's Incompleteness Theorem. G�del, Escher, Bach: An Eternal Golden Braid, does discuss some very serious topics and it can, at times, be a daunting book to handle and absorb. But it is always immensely enjoyable to read. The sheer joy of discovering the puns and playful gems hidden in the text are a part of what makes this book so very special. Anecdotes, word plays and Zen koans are additional aspects that help make this book an experience that many readers will come to feel to be a turning point in their lives. Like every other book written by Hofstadter, G�del, Escher, Bach: An Eternal Golden Braid, has an index and a bibliography that must be noted as exceptionally well done. Although filled with English wordplay, this book is in no way tied to the American origin of its author. For years, it was thought that G�del, Escher, Bach: An Eternal Golden Braid, would be impossible to translate, but so far, it has successfully been translated into French, German, Spanish, Chinese, Swedish, Dutch and Russian. A profound and beautiful meditation on human thought and creativity, this book is indescribably gorgeous and definitely one of a kind.
I will cheerfully confess that I cannot remember all of the details of the book, and that there were times when I simply couldn't get at what Hofstadter was trying to explain. Still, some of Hofstadter's writing has stayed with me the past two decades--his classic analogy of Godel's theorem with a stereo system, his discussion of the difficulties of creating an "accurate" translation (using the beginning of "Crime and Punishment"), his wondrous tying-together of math, music, and art. The totally math-phobic will find these, and many other concepts, readily accessible and even symbol-free. Wish I could say as much for some "general audience" philosophy books!
However, after reading the new preface in this 20th anniversary edition, I'm left with the sense that this once great book is now merely good. For one thing, Hofstadter seems to have evolved from a brilliant young man with a lot of great ideas into a somewhat cantakerous middle-aged man. He seems angry at the New York Times, and his readers, for not fully understanding the central message of the book. Yet he also excuses himself from making any attempt to update the book or bring the ideas in line with many of the enormous changes that have happened over the last 20+ years. It seems surprising to me that Hofstadter would constrain his own book to having only one central message--surely he should understand that a book of this complexity will mean many things to many different people, and that indeed is the reason for its popularity. So, I still highly recommend this book, but I'm left just a little disappointed that Hofstadter seems somewhat at war with his readers and as a result, won't attempt to update the book or try to help us reconcile the many events of the last 20 years with the themes of his book.
Yes, it's about Goedel, and recursion, and "strange loops", and linguistics Bach and ants and all that- but only trivially. The bulk of the book is taken up with what amounts to a very entertaining tutorial that sets the reader up for the real thesis of the book. What Hofstadter has attempted in GEB is nothing less than a concise, bottom-up theory of mind. You can read it as a theory of AI, or a theory of human intelligence, but either way he's telling you how to construct an intelligent entity. True, he doesn't really have a theory of *how* a self-aware being should arise from his metaphorical anthill, but then, neither does anyone else. But he does have a very good story as to how intelligence does arise in such conditions. If you've read this book before without understanding what his aim was, read it again, with that notion in mind. And if you haven't read it, and you're the sort of person who enjoys mathematic and scientific amusements of any sort, well, read it and discover how much fun a speculative theory can be.
I have had similar trouble that others report. I have had to re-read parts to make sure I get his points, whether I agree or not. And yes, he conveys his ideas in what some may consider an offhand way. There is much value in the saying, "To be great is to be misunderstood." You dont have to like this book. Just make sure you're certain why you do or don't like it. Is it because the Hof doesn't know what he is talking about, or because he "wastes" your time with his lingo and fictional prancing about? Or is it because there's a chance that you don't understand? I am not condescending readers who don't like GEB, but we too often rate someone's ideas based on our inability to understand and yes, sometimes be entertained immediately. Don't expect him to do all the work. What are you bringin' to the party? This book is challenging. Once you have spent enough time with it, you might see that it requires you to challenge your understanding of things, take that leap of faith (it's not all about logic), suspend judgment, then see what you think when you get to the other side. Consider the section devoted to the topic of Euclidean vs. non-Euclidean geometry: Euclid of Alexandria perfected the art of rigor in his Elements, becoming arguably the most influential mathematician in times of antiquity. He made a most convincing case for the accuracy and truthfulness of much of the fundamental geometry we know today. He did so by using five principals upon which to base the remainder of his volumes of assertion. Four of the five principles were based on truths quite simple and so understandable, for the most part we hold them to be self-evident. One of those (the first) was the notion of a straight line, as simple and direct as connecting point A to point B. His work seemed universal, truthful, and beyond reproach, especially considering the painstaking efforts he went to prove the seemingly most basic of concepts. This all seemed well and good, until others, implicitly or otherwise, began to question the notion or suggest what a different version of what a straight line is. In other words: What if there was more than one type of straight line? How could this be? To make a long story only slightly longer, we find that there in fact IS more than one type of straight line (what's the difference between a straight line drawn on a piece of paper and a straight line drawn on a basketball? hmmmm....), which spawned elliptical and spherical geometries. Turns out that Euclidean geometry is actually a subset of geometry, not the entire geometry. All these years we thought that a piece of the pie was the whole pie. The point here is that you must endeavor to see outside what you know to be true. It's not always comfortable or seemingly conceivable, but we must accept a degree of uncertainty before we can realize a new level of certainty. Give the book a shot. Maybe two. Suspend your judgment and take the hit. You'll see. Regards. ... Read more | |
| 8. Secrets of Mental Math: The Mathemagician's Guide to Lightning Calculation and Amazing Math Tricks by Arthur Benjamin, Michael Shermer | |
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list price: $13.00 -- our price: $10.40 (price subject to change: see help) Isbn: 0307338401 Publisher: Three Rivers Press Sales Rank: 1397 US | Canada | United Kingdom | Germany | France | Japan |
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| 9. Here's Looking at Euclid: A Surprising Excursion Through the Astonishing World of Math by Alex Bellos | |
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Editorial Review Whether writing about how algebra solved Swedish traffic problems, visiting the Mental Calculation World Cup to disclose the secrets of lightning calculation, or exploring the links between pineapples and beautiful teeth, Bellos is a wonderfully engaging guide who never fails to delight even as he edifies. Here’s Looking at Euclid is a rare gem that brings the beauty of math to life. | |
| 10. The Visual Display of Quantitative Information, 2nd edition by Edward R. Tufte | |
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(2001-05)
list price: $40.00 -- our price: $28.00 (price subject to change: see help) Isbn: 0961392142 Publisher: Graphics Press Sales Rank: 2047 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan |
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Edward R. Tufte is a noteworthy scholar and the presentation of the material presented in this book is awe-inspiring. Tufte has also compiled two other books that can be best described as quite remarkable. These additional books are entitled, ENVISIONING INFORMATION and VISUAL EXPLANATIONS. All three of these volumes are not merely supplemental textbooks; they are works of art. My intent was to use VISUAL DISPLAY OF QUANTITATIVE INFORMATION as part of teaching my statistics course. Students, but mostly faculty, are overly impressed with inferential statistics. Graphics play an important role in the understanding and interpretation of statistical findings. Tufte makes this point unambiguously clear in his books. Two features of VISUAL DISPLAY OF QUANTITATIVE INFORMATION are particularly salient in teaching a statistics course. First, the concept of normal distribution is wonderfully illustrated on page 140. Here the reader is reinforced with the notion that in the normal course of human events, cultural/social/behavioral/ psychological phenomena usually fall into the shape of a normal distribution. The constant appearance of this distribution borders on miraculous. Just as importantly, it is the basis for accurate predications in all areas of science. Tufte's illustration (page 140) speaks to this issue much more clearly than a one-hour lecture on the importance of the normal distribution. Which goes to show -- once again -- "a picture is worth a thousand words." Sadly, the illustration on page 140 is small and in black and white. I wish the second edition included a larger reproduction of this photo. A color presentation would have been helpful. Second, Tufte continues his unrelenting pattern to reinforce the importance and impact of illustrations in understanding complex concepts. In particular, page 176 demonstrates the impact of Napoleon's march to Moscow. The illustration is both profound and eerie. The reader is left with a feeling of death and pain for the foot soldiers...
Tufte's masterful and dead-on takes about how to communicate statistical and quantitative data challenges standard assumptions about developing graphical information and reveals, though it is not his stated intention, the weakness of so many graphics software packages. Just look at his collection of chartjunk and "ducks" (his term for hideous graphics) to see how all the whistles and bells available to us via computer graphics programs actually obfuscate the interpretation of visual information. By the time you read how much ink and paper are wasted by created bad graphics, you should be a convert. And if you are ever lucky enough to have the chance to attend one of Tufte's seminars, pawn your PC if that's what it takes.
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| 11. My Best Mathematical and Logic Puzzles (Math & Logic Puzzles) by Martin Gardner | |
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So get this one if you are good at mathematical thinking and want to challenge yourself. If you are weak in math and would rather read puzzles that require only logic, cleverness, and lateral thinking only, this may not be the one for you.
Intermediary puzzlists will find the pleasures of often working at the upper edge of their skills. The solutions at the end of the book are complete enough so that even those who didn't get it right the first time will get aha insights. The book is well worth its price even for puzzle enthusiasts. Even I knew many of the puzzles beforehand - classics indeed - but the notes in the solutions often add a twist, a clever solution or a human interest point of view. The age recommendation of amazon.com - 4-8 years - is probably either an insider joke or a typo. I'd recommend this book to people between 14-80 years of age, and even over.
The solutions given are very complete and actually take up the majority of the pages in the book. On a somewhat related note, if you happen to be interviewing in the technical fields you may run across interviewers that ask brain teasers. You'll find many of those problems (or ones that are very similar) in this book. For technical interviewing this makes a good study guide.
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| 12. Five of Maxwell's Papers by James Clerk Maxwell | |
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| 13. Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Nassim Nicholas Taleb | |
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It was indeed compelling. But I did not wholly agree with him. I suppose that is my right. At risk of great oversimplification, Taleb argues quite articulately that extreme occurrences in a distribution happen a lot more frequently than humans are prone to believe. Ergo, in derivatives trading, it makes no sense for one to be "frontspread" (short gamma/vega). Ever. My experience is in equity derivatives. Mr. Taleb's is presumably in fixed income and FX. Without knowing much about the world of FX options, I can assert that in the equity listed options markets, downdrafts in volatility can be almost as deadly as explosions in volatility. The vol crush of the summer of 2000 wiped out as many traders as the Russian debt default of 1998. Out of the money options are never cheap; lots of people buy them for the protection that Taleb seeks. Sometimes even they are too expensive to own. Going further, I found Mr. Taleb's insights on the role of luck in human performance to be EXTREMELY unsettling. He talks at length about the rich idiot trader and the vastly more competent but underpaid trader (presumably himself). He goes on to ascribe most of those who are wildly successful in life to LUCK, and that individuals ascribe way too much of their own success to their own ability and hard work (which he scorns). I find this to be frightening. I'm sure Mr. Taleb would find this reaction entirely predictable. The implications are most frightening, from a political standpoint: if most wealth is undeserved, then therefore it can be rightfully taxed (expropriated) and redistributed to those are not so lucky. Furthermore, most individuals who despise hard work do so not because they are brilliant, but because they are lazy. Evaluation of a particular person's work ethic is an imperfect but reasonably good indicator of performance. Many of the MBAs he derides as being shallow thinkers and pluggers, while may not be (ahem) the intellectual giant that Taleb is, are no slouches themselves. They do not represent the legions of clueless option sellers that Mr. Taleb has somehow encountered throughout his career. Most young associates do have the luxury of telling their boss they did not read the Wall Street Journal in the morning because it represents nothing but random noise. As you can tell from this review, I enjoyed the book. Otherwise I wouldn't be so critical of it. I couldn't put it down. You probably won't agree with all of it, but it will cause you to think about things in a very different way for a long time.
FOOLED BY RANDOMNESS is an introduction to the difficulties human beings have at reasoning around probability. Taleb argues that human beings are genetically hardwired to misattribute the results of human endeavors to skill and knowledge that are, in fact, just coincidental, random events. Taleb discusses the results of this embedded flaw in human reasoning in three areas. In part 1, Taleb discusses impacts of `rare events' on both financial markets and on human history. Taleb argues we should beware seemingly successful strategies if they are not proven by the test of history. In particular, we should examine human history in the long term for general trends and treat skeptically claims that humanity has reached `the end of history' or `a new economic model' where the old, proven rules do not apply. In part 2, Taleb discusses the `survivor effect', or mistaking success based on luck for success based on skill. In particular, Taleb warns against judging a strategy by its actual results. Instead, we should judge strategies based upon a sum of all possible outcomes. In part 3, Taleb briefly discusses `tricks' he has developed to try and derail his flawed, ingrained, statistical reasoning and live a rational and, to a great degree, classical life based upon a good understanding of the effect of randomness on our lives. The book is peppered with classical references to ancient philosophers and literature, as well as humorous anecdotes to Taleb's own experience in the world of Wall Street. Unfortunately, interesting nuggets and provocative thoughts throughout the book are rarely fully explored. While I was entertained and intrigued, when I got to an end of a chapter or section, I often felt dissatisfied, as if I was trying to wrap my arms around some meaty ideas and came away with empty air. Unlike other reviewers, however, I did not find Taleb particularly pretentious. In fact, I often felt that Taleb was more than open with his own particular foibles and failings. His only source of pride seemed to be in realizing that he had these failings. Ironically, Taleb attributes this understanding to the experiences suffered in his own personal, contingent history. Overall, I found the book to be like a good Chinese dinner: entertaining at the time of reading, but left hungry an hour later. Dav's Rating System:
While Taleb does not fully dive into this issue until later in the book, the primary conjecture of the piece is that human beings are psychologically prone to misinterpret random events. We need to explain things, whether it be in the social sciences, art and literature, or the natural sciences, so we find ways to explain them. Considering the infinite quantities of data at our disposal, no statistician denies that extremely powerful correlations will occur simply out of chance. Certain aspects of an author's life will be almost identical to passages in his or her novels, certains stocks will share perfect correlations, and we are creatures in need of explanation, and whole industries have been created to mine the data and tell us why things occur. Prior to this book, Taleb had already written 'Dynamic Hedging,' considered by many, including myself, to be one of the best books ever written on exotic and vanilla options. That book is not for anyone who has not spent years studying (or preferably practicing) options, but in 'Fooled by Randomness' he illustrates his ideas in terms that anyone could understand. In 'Dynamic Hedging' he provides more insights into his trading strategies than he would have done had he been solely profit motivated, and likewise, as the boss of a fund that profits from other people's misconceptions of probability, he cannot have any reason to try to increase people's awareness of how the world really works other than a genuine desire to play the role of the teacher. Many have attacked the book as arrogant, but it must be remembered that anyone who goes against the common ways of thinking is essentially suggesting that he or she understands things better than do most people and therefore cannot help but come off as arrogant. Several times in the book Taleb specifically states that he falls victim to the tendencies that he condemns, and that the main difference that he sees between himself and others is that he is at least aware of it. Considering the fact that Taleb blatantly argues that many who consider themselves the rulers of the universe were in fact a group of lucky fools, it is inevitable that many will come away from it with a sense of anger and a refusal to believe it. I am therefore almost surprised that the book has not drawn harsher reviews than it has, for Taleb was certainly not seeking to make friends through the publication of it. I suspect that those who rate the book as poor fall into two general categories: those who were troubled by the thought that a considerable portion of their success may have resulted from luck, and those who are attached to their current views on the workings of the markets and are hostile to any new views on them. These two categories naturally overlap quite often. An important thing to remember is that even if you work very hard, not only are the outcomes of your projects the result, to varying extents, of chance, but chance also played a role in getting you to the position where you can work hard and actaully see it pay off. Considering the complexity of the world we live in, and the infinite forces that push and pull on our lives, this book is critical to anyone who desires an objective veiw of how things come to be...
And while the book does provide some of that, the valuable information is embedded in writing that is overly self-centered if not egomaniacal. I'd like to point out that I REALLY wanted to love this book. But I didn't. Taleb writes about interesting ways in which people do not understand randomness but he does it in a way which is unnecessarily insulting and condescending. Even worse, I find him hypocritical. He spends a lot of energy talking about the value of being able to change one's mind, as well as the value of large sample sizes in probability-based decision making. But then he describes how far out of his way he goes to avoid information (which might cause him to change his mind or which would increase his sample size.) Further he implies that anyone who takes in certain information, like almost any form of news broadcast, must be an idiot and lives in a world of self-delusion. Taleb writes like a smart but anti-social and holier-than-thou trader. He writes some very useful stuff about randomness and its misapplication in modern thinking. But then he goes on psychological tangents which are nothing more than trying (and failing) to find a mathematical basis on which to defend his personality foibles (flaws?). He over-generalizes about trading in a style which he does not employ, i.e. selling premium or making bets based on past occurrences. He writes as if his way is the only way that makes sense, and implies that in the long run it is only because of randomness that anyone who does not trade the same way he does could be successful. ("Ergoditic" is definitely the best word in the book....) Taleb gets very close to interesting discussions of a non-mathematical nature as well, such as the level of emotion involved with success or failure, as well as some interesting historical information. But he lessens the effect of the good writing by then telling us how all this fits into how he lives his life, using as many obscure references as possible, in an ongoing attempt to justify (to the reader or to himself?) the lifestyle he has created for himself. For example, he uses the above discussion to explain why he does not like to look at his own trading profit or loss statements. And he writes it in a way that shows he expects us to think he's brilliant or heroic for having such discipline. Very silly stuff.... Taleb describes his hero worship (of a philosopher named Popper) and it becomes clear that at least a partial goal of this book is to get the reader to revere (or emulate) Taleb the way he reveres (and tries to emulate) Popper. Unfortunately, it doesn't work that way. Overall I found the probability discussion interesting, but not worth the tedium of having to listen as if the reader is Taleb's (badly needed) therapist. Luckily for Taleb, he says directly in the book that he will ignore all reviews. I think you should be able to find a less tedious source for the bits of valuable information "Fooled By Randomness" provides without having to suffer the insufferable smugness of the author.
In investing, few can tell the difference between being lucky and smart. Being successful in the short term can come from either source. If it is coming from unrecognized sources of luck, however, the behavior that the investor associates with success can sink the ship. The cautionary tale of Long Term Capital Management is cited in the book as an example of this point. If youre so rich, why arent you smart? is the wonderful reversal here on the old saw. I see this effect all the time in my consulting practice with helping companies understand how their decisions affect their stock price. A large percentage of people feel that they know all the answers when their stock price is rising. They keep doing the same things when the stocks are falling. Few survive to still have top jobs when the cycle shifts again. Then a new group of self-confident people take over who often dont know any more than those who preceded them. Its just that their track records look better. Fooled by Randomness will help make you more knowledgeably humble about what you can expect to accomplish with investments. Not only do fewer than one percent outperform the market averages over long time periods, the ones who do are probably often being aided by luck as well. Get thee to the index funds as soon as possible is the message that most should take away from this book. Better yet, buy them when multiples are low! The books fundamental point is that there is tremendous volatility in any investment. Ignore that volatility to your peril. At the same time, you should be cautious about how well you understand the volatility. Stocks at their lows can still go to zero. There are all kinds of events that can happen, that have not done so yet. When they do, throw out all the old rules of investing. The terrorist attacks on the United States last week are probably an example of this. So each investment must be made as though you could be totally wrong. This means that you have to manage your risk exposure to events you dont even know how to expect. I loved his example of the joint probabilities of having a rare disease if you get a positive result on a test for that disease. Even most doctors apparently dont know how to evaluate that one. If even well educated people cannot quantify two known risks occurring simultaneously in their own field, how can investors be expected to make good decisions? Dr. Taleb has some very good advice for how to handle the psychology of being able to do this. He upholds the Stoic ideal -- the attempt by man to get even with probability which encourages wisdom, upright dealing, and courage. This means not chasing the latest investment fad or fashion, not looking at your investments very often, and being open to both sides of any idea (it could go wrong as well as right --what are the consequences of both?). I especially liked his idea of watching CNBC with the sound off so that the experts seem humorous and you are less likely to hear and follow their advice. Even more poignant was his advice not to live on Park Avenue where living with all of the arrogant, temporarily lucky can make you feel small. Instead, live somewhere that the results of your cautious approach will cause you to be the envy of all. Dr. Taleb impressed me with his willingness to tell stories on himself about how quickly he can become superstitious when things are going well, take on excess risks, and start looking too short term. After all, we are only human! The importance of this book can only be appreciated if you go back and think about your biggest investing successes. How much was luck versus skill? A good way to test is to see if the same approach has continued to work for you whenever you use it. Another good test is to see how often it would have backfired in the past. In my research on good decision making, I find that those who guard the downside first make the most money in the long run. They are able to find ways to get the best of both worlds! Remember that the two-edged sword can cut in either direction!
I found the book to be well written, opinionated and with some great ideas that frankly are hard to argue against. His book, at the core, is about the problem of induction. Statistics, for how useful they may be day to day, certainly do not solve this problem, and indeed, luck and skill are hard to differentiate in the markets. He exposes a problem of a philosophical nature, and he is certainly not suggesting to drop all induced laws and redefine a day to day life full of uncertainty and incapable of establishing practical rules. This book is not meant to be a textbook so i am not sure why Taleb's flair as a writer is getting attacked so repeatedly here. I think his writing style is elegant, amusing and smooth. This book is about opinion, so accusing him of having an opinion seems a misplaced objection. Also, i believe his writing is being somewhat misinterpreted. While there is an undertone of arrogance, it is self mocking. He does not claim to know better. His only, somewhat socratic claim is that he at least knows he does not know...I am surrounded by arrogance at work, and i can tell you, Taleb's ain't so!
1. The author's ego (in one paragraph on page 59, he uses the perpendicular pronoun 7 times; the possessive first person another 5); or his hyperbolistic writing style: this might be too easily dismissed as an ad hominem attack. 2. The many glaring contradictions in this book: they appear so often (sometimes in the next sentence), they can hardly be viewed as a random event: this would take too long, and any intelligent reader can spot them. 3. The superfluous material: with so much impertinent opinion found between the covers, this would take too much effort. 4. The missed opportunities: another author can capitalize on this. 5. The delicious irony between the thesis and the content: this is for the discerning reader to perceive and enjoy. If people wanted to be as nasty as Taleb is in dismissing those he disagrees with, they could use a subject line like "Clearly, not a Swan Song," or "A Highly Masturbatory Essay" or "This book is as fat as the argument is thin". While there is much to complain about in this nauseatingly self-centered book, so filled with noise and so little signal (seriously estimated at 85:15), such comments would miss the point: this is actually a highly original work and is certainly thought-provoking. Although I give it only 2 stars, it's still worth reading, if only to argue against. A three-paragraph summary of his 200 pages follows: 1. Thesis: Today's virtual world measures success without sufficiently discerning luck from skill. Intelligence alone is deemed the necessary condition for wealth. 2. Antithesis: Too much of what is widely held to be worldly success should actually be attributed to luck; i.e., results hidden inside the vicissitudes of random variation. This "common sense" approach is na�ve because it fails to establish the link between cause and effect and ignores the effect of variation, which, in one of its tails, can produce extraordinary results. Taleb explores the problem of induction and confronts the non-linearity of regret. 3. Synthesis: The trick is, of course, to determine post facto, what was random and what was skill, and more critically, to assess the nature of risk going into a decision. Mistakes in these areas can be extremely costly. Beware of the tails, especially if they are fat. If you want to be probabilistic, don't bet more than you can happily afford to lose. Question everything. Be humble. Accept adversity with good grace. This is an interesting thesis; too bad Taleb doesn't focus on examining the evidence instead of talking about himself and offering unsupported opinions. He dabbles with epistemology, but equivocates on whether knowledge is arrived at by rational or empirical means. Despite frequent and inappropriate abuse of the word "clearly," he doesn't clarify the ontological considerations that lie at the heart of this book: sufficient cause and non-contradiction. Though he's personally fond of the Monte Carlo technique, many of us could be spared much of that bother by answering a few simple questions: 1. What is the worst-case scenario? The author raises the work of Kahneman and Tversky, but hardly surveys it; the work of other key economic thinkers is ignored: Thaler and Arrow come to mind immediately; many others should appear but do not. No wonder Japanese librarians classify this work as literature: it's little more than an essay, largely devoid of footnotes or a meaningful bibliography. Being unlettered in mathematical sciences, I ought to be cautious about questioning his math, as simple as it is, but must nonetheless question both Taleb's assumptions and his logic in the few examples he provides. He rails against "pseudo-science" but dabbles happily in many disciplines in which he lacks formal qualifications, jumping from lily-pad to lily-pad, seemingly unaware that his dilettantism is evident to even the fellow layperson. Despite his professed aversion for "borrowed wisdom," it abounds in this tome. Taleb's editor took a vacation, especially towards the end of the book, where there are many errors of punctuation. Incidentally, in one of many delicious ironies of this book, Taleb uses the very Hegelian logic he rails against to make his point. It would be interesting to see John Horgan (he of The End of Science fame) interview Taleb. The ultimate irony is that Taleb has actually co-written a concise account of his thesis in 26 pages at his own web page. Intriguingly, in some of the interviews also linked to his web page, he comes across as being lucid and pithy, and also a polished and gracious reviewer. Some of his other writings show a keen insight into human and abstract sensibilities. Sadly, the same cannot be said of this book, which appears to be more a transcript of a session with his psychoanalyst. This is an opportunity lost. A severe edit of this book could likely bring it up to the level (5 stars) for which it has the potential. But it's nowhere near there, yet.
Taleb's domain (and that of the book) is the world of finance. He is quite rightfully scornful of financial journalism, which attempts to fit rationales to the most insignificant movements in asset prices. According to Taleb, most of this price activity is purely random, pointless to predict and futile to explain. The flip side is the tendency of markets (and natural phenomena) to exhibit extreme, unusual behaviour that confounds conventional theory. The occurrence of this skewed behaviour (referred to as the `Black Swan' problem) has plenty of precedents in financial markets and has bankrupted numerous traders and former experts. As a general rule, practical advice on financial speculation is almost always useless. If Taleb has a core belief, it is that `I may be a fool, but my edge is that I know I am'. This recognition is not an exercise in humility; it is a prerequisite for success in a world where we are continually fooled by uncertainty and causation. Taleb's book is a convincing, entertaining lecture on probability and human nature. His written style is little difficult to digest, possibly because of his classical influences. His insights are fantastic, though. Anyone who trades or invests should read this book, and reread it until the message sinks in.
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| 14. The Shape of Inner Space: String Theory and the Geometry of the Universe's Hidden Dimensions by Shing-Tung Yau, Steve Nadis | |
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Editorial Review Time and again, where Yau has gone, physics has followed. Now for the first time, readers will follow Yau’s penetrating thinking on where we’ve been, and where mathematics will take us next. A fascinating exploration of a world we are only just beginning to grasp, The Shape of Inner Space will change the way we consider the universe on both its grandest and smallest scales. | |
| 15. Research Design: Qualitative, Quantitative, and Mixed Methods Approaches by John W. Creswell | |
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Editorial Review                 The Bestselling Text is Completely Updated and Better than Ever! The Third Edition of the bestselling text Research Design by John W. Creswell enables readers to compare three approaches to research-qualitative, quantitative, and mixed methods-in a single research methods text. The book presents these three approaches side by side within the context of the process of research from the beginning steps of philosophical assumptions to the writing and presenting of research. Written in a user-friendly manner, Creswell's text does not rely on technical jargon. He cuts to the core of what a reader needs to know to read and design research in part by showcasing ideas in a scaffold approach so that the reader understands ideas from the simple to the complex. The Instructor’s Resource site at http://www.sagepub.com/creswell3einstr/ contains: The Student Study Site at www.sagepub.com/creswellstudy offers: Research Design, Third Edition appeals to students taking research design and research methods classes throughout the social and behavioral sciences-from undergraduates to the most advanced doctoral programs. | |
| 16. Curiosities of the Sky by G.P. (Garrett Putman) Serviss | |
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| 17. Math Doesn't Suck: How to Survive Middle School Math Without Losing Your Mind or Breaking a Nail by Danica McKellar | |
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| 18. MyMathLab: Student Access Kit by Addison-Wesley | |
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Editorial Review Interactive tutorial exercises: MyMathLab's homework and practice exercises are correlated to the exercises in the relevant textbook, and they regenerate algorithmically to give you unlimited opportunity for practice and mastery. Most exercises are free-response and provide an intuitive math symbol palette for entering math notation. Exercises include guided solutions, sample problems, and learning aids for extra help at point-of-use, and they offer helpful feedback when students enter incorrect answers. eBook with multimedia learning aids: MyMathLab courses include a full eBook with a variety of multimedia resources available directly from selected examples and exercises on the page. You can link out to learning aids such as video clips and animations to improve their understanding of key concepts. Study plan for self-paced learning: MyMathLab's study plan helps you monitor your own progress, letting you see at a glance exactly which topics you need to practice. MyMathLab generates a personalized study plan for you based on your test results, and the study plan links directly to interactive, tutorial exercises for topics you haven't yet mastered. You can regenerate these exercises with new values for unlimited practice, and the exercises include guided solutions and multimedia learning aids to give students the extra help they need. | |
| 19. The Drunkard's Walk: How Randomness Rules Our Lives (Vintage) by Leonard Mlodinow | |
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| 20. Hot X: Algebra Exposed by Danica McKellar | |
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