Fooled by randomness

A must for everyone ever interested in trading. The book is by a propitiatory trader who has been in the business for a long time. The main philosophy of his trading career has been how not to blow up. Blow up means not just losing money but losing more than expected. There are lots of instances and examples of people who blew up and why they blew up. And he heaps loads and loads of scorn for analysts like me.

Moreover, the book touches upon some of the sublime issues with human behavior. We always tend to compare our success relative to others in our close proximity rather than consider the whole population. For example, no matter how much better off I am as compared to 90% of Indian population, I will still compare my financial well being with the limited number of people I studied with.