Don't really understand how you can oppose an author if you haven't read his books.
However, Taleb did mention in Antifragile that he had a number of academic enemies/detractors, which he had never, ever experienced in business. As you are located in Cambridge, you may be one of them.
But it would be a shame if someone who knows nothing about Taleb read your review and because of it, decided not to read Antrifragile. It is among the best books I have ever read in my life.
Last edited by plethora; April 25th, 2013 at 10:17 AM.
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@plethora: I do understand the comments of @artemiso. Although I enjoy reading the book, I do not always agree with the author. He glorifies practitioners and vilifys all sorts of academics, maybe with the exception of the serious ones who have engaged in physics and not such occult pseudo-sciences as economics. By doing this his own approach is very academic. There is no Greek or Latin philosopher who is not cited in order to show the superiority of the ancient culture to modernism. In fact he uses his superior education to bedevil education, is n't this hypocrite?
Nevertheless, I enjoy reading the book and do recommend it, because it is thought provoking. It has simply lot of good stuff to think about. When thinking about it, I find that part of Talebs findings are exaggerated or lack the riguor that I had expected. Some of the examples chosen are rather exceptions than the rule, and he only leaves me half convinced. Taleb uses associations in a very undisciplined way. Transposing his concepts into all corners of economic and academic life does not really work, and the challenge when reading the book is to separate the wheat from the chaff.
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Most finance and economics professors that I am connected with are involved in industry and policymaking on a day-to-day basis, so I think the distinction between "academicians" and "practitioners" is inappropriate. There's also a good portion of "academicians" who were previously "practitioners", but quit because they were tremendously successful; feel they've had achieved their monetary goals, and wish for the autonomy and intangible reward of educating young minds.
Sure, one should read whatever he likes and form his own critical judgments.
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It approaches the subject of trading psychology from the point of view that emotions and feelings must be understood and analyzed. Rather than other books which approach it from the perspective of overcoming and conquering feelings and emotions. Although I agree with the premise, I was really disappointed with the book for a few reasons:
A big pet peeve of mine. Constant grammatical errors. I dont care if it's just a book about trading rather than a novel. If you're publishing a 'proffessional' piece of literature to the world. Make sure it gets edited properly
Instead of a book filled with insights and advice on trading psychology, the author jumps between sections of advice and telling a vague story which is suppose to illustrate her theories, but just adds unneccesary fat to the book and takes away from the advice itself
I tend to make notes when reading these kinds of books so at the end im left with a summary of the key concepts. I could count on one hand the number of times I picked up a pen to make notes. This book could have been 20 pages. The rest is fluff.
I was left at the end of the book wondering if it was suppose to be a (badly) written novel or a book written for serious traders. Instead it tried to do both but missed the mark on both accounts. I kept on waiting to get to the meat of the book, but it never happened.
With all of that said, Denise knows her stuff and has some good ideas. But I feel this book is a terrible attempt at putting those ideas into writing.
If you're looking for a book on trading psychology (either that approach it from suppressing emotions, or from embracing them), there are better books out there.
Just my opinion.
You donít trade the markets; you only trade your beliefs about the markets.
- Van K Tharp
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I was even tempted to offer my (non-existent) editing skills!
Still, I do feel the key idea of being aware of feelings rather than trying to block them is now a fundamental. All the latest brain stuff does tend to show we got a lot wrong in the last 50 years regarding between the ears functioning.
I just finished the book and am very impressed by the author's work. I was afraid the book would serve mainly as an advertisement for his proprietary Weis Wave but that is not the case. Mr. Weis has created an extremely useful guide to market interpretation using the methods of Richard D. Wyckoff. The book covers Wyckoff both in the original and as adapted by modern charting technology. The main emphasis is attempting to discern the tale the market tells by price and volume and the book abounds with detailed examples. The goal is to find which side, buyers or sellers, is gaining control and to spot points where trades can be enterd with minimal risk and maximal potential reward. Anyone who is interested in using Wyckoff analysis to trade the markets should consider adding the book to his library. The Look Inside feature at Amazon offers a good glimpse of the book if you want to get a feel for the material: Amazon.com: Trades About to Happen: A Modern Adaptation of the Wyckoff Method (Wiley Trading) (9780470487808): David H. Weis, Alexander Elder: Books
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Did anyone here read the book recommended by FT71 - The Power of Habit.
This has been the best book I've read about how our minds work.
I believe it's safe to say it's even better than Steenbarger's books.
For those that for some reason just can't stop making the same mistakes over and over I highly recommend this book.
If I become half a percent smarter each year, I'll be a genius by the time I die
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