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Fooled By The Randomness

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Nassim Nicholas Taleb, the author of ‘Fooled by the Randomness’ discusses whether modern humans are often unware of the existence of randomness. Taleb argues that humans tend to explain random outcomes as non-random, a provocative opinion which has really inspired me to take further interest in Statistics.
The first time I read this book, I was intrigued by some common but interesting cases. For instance, many real-life phenomena are not 50:50 bets, like tossing a coin, but have various unusual and counter-intuitive distributions. These examples really fascinated me as it made me realise that many of my initial thoughts even about ‘run-of-the-mill’ matters were false. As a result, I have become very motivated to understand more about statistics to identify the flaws in my thinking. It was at this point that I chose my Undergraduate course of Mathematics and Statistical Science at University College London (UCL). My initial motivation of acquiring more statistical knowledge has not only been reinforced, but continually reignited through the engaging and rewarding modules that I have studied thus far. Consequently, I am eager to take a postgraduate course in Statistics as it will give me the opportunity to explore statistics in a far greater depth.
Over the past two years my dedicated nature has resulted in a high …show more content…

My recommended stock GKN increased 6.57% from £2.89 to £3.08 per share during one month. My extensive knowledge on applied statistics played a vital role in my success as an analyst because I knew that principles such as the stochastic modeling can be used to estimate the performance of a portfolio based on probability distributions of individual stock returns. The philosophy and practical application of statistic was extremely beneficial for me and I believe it will be a hugely useful efficient tool for my future

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