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Random events can have a major impact on our lives from "summary" of Fooled by Randomness by Nassim Nicholas Taleb
Random events, by their very nature, are unpredictable and uncontrollable. They have the potential to disrupt the carefully laid plans and expectations we have for our lives. Whether it's a sudden illness, a financial crisis, or a stroke of good luck, these events can have a significant impact on the course of our lives. In the grand scheme of things, our lives are governed by a complex interplay of randomness and determinism. While we may like to believe that we are in control of our destinies, the truth is that chance plays a much larger role than we care to admit. This is especially true in the world of finance and investing, where even the most seasoned professionals can be blindsided by unexpected events. Take, for example, the story of two traders who both invest in the same stock. One of them makes a fortune while the other goes bankrupt. Was it skill that made the difference? Or was it just luck? In reality, it was likely a combination of both. The successful trader may have made some shrewd decisions, but he also benefited from being in the right place at the right time. In a world where outcomes are influenced by a multitude of factors, it can be difficult to separate skill from luck. We tend to attribute our successes to our own abilities and failures to external forces, when in fact the truth is often much more nuanced. By acknowledging the role that randomness plays in our lives, we can better prepare ourselves for the unexpected and avoid being blindsided by events that are beyond our control.- We must learn to embrace uncertainty and accept that we cannot always predict or prevent random events from impacting our lives. By cultivating a mindset of flexibility and resilience, we can adapt to whatever challenges come our way and navigate the unpredictable nature of the world with grace and composure.
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