D IN IN G G U ID E
d a e R l l e W
G
UR BEACH BA
O BOOKS FOR Y
Many restaurants have been forced to close down their dining areas, or amend their services, due to the coronavirus. Some have been working on alternatives. We want to support our local businesses in the best way we can, so for any that are continuing to operate, we will give them a space to tell you about that here. Home Deliveries, Take-aways, In-home dining, even home cooking – this is the place we will pull it all together for you.
HAVE YOU CHANGED YOUR BUSINESS MODEL?
LET EVERYONE KNOW HOW THEY CAN CONTINUE TO GET YOUR YUMMY FOOD, DELIVERED OR TAKEAWAY
This week's review
TITLE: Fooled by Randomness AUTHOR: Nassim Nicholas Taleb NUMBER OF PAGES: 291 READING TIME: 5 hours 12 minutes PRICE: $26.95 WHAT IT'S ABOUT: Before his international bestseller
The Black Swan gave us all another perspective on science and truth, Nassim Taleb published this analysis on the incidence of chance and its impact on life. Taleb was a very successful trader of financial investments, who made a lot of money for himself and his clients through his mastery of, amongst other things, probability and behavioural economics. He became a Professor in the Sciences of Uncertainty, dedicating his life to the study and practical application of luck, skill, random events and probability.
WHO IT'S FOR: Human beings tend to view the world
as more explainable than it really is, so we look for patterns and explanations even when there are none. We attribute our successes to skill, but our failures to random chance and events out of our control. Taleb provides reasons to re-think these definitions.
WHY YOU SHOULD READ IT: The book can be complex
FOR MORE INFO CALL 0487 003 765 8 BYRON BAZAAR
and Taleb can sometimes appear arrogant, but his counter intuitive arguments and humorous anecdotes make for interesting reading. Taleb analyses “chance” in finance, investing, careers, world events and evolution. Mathematical concepts like survivorship bias, skewed distributions, probability, Monte Carlo simulations, mean, median and average all seem to make sense the way he explains them. He warns about the destructive noise of “undistilled information” like news, commentary and reactionary opinions, which mask the true signals of thoughtful analysis.
NOTABLE QUOTES: “It does not matter how frequently
something succeeds if failure is too costly to bear. / A mistake is not something to be determined after the fact, but in light of the information available up until that point.”
