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Books to read if you're planning a vacation in "Nicholas", sorted by average review score:

They're Killing Our Children: Inside the Kidnapping & Child Murder Epidemic Sweeping America
Published in Paperback by AMI Books (December, 2002)
Authors: Michelle Caruso and Nicholas W. Maier
Average review score:

Sad but True
This is a book that every parent and kid needs to read. People need to be aware of strangers but they also have to be cautious of people around them. I think parents need to talk to their kids and teach them how to be safe. This was a very educational but very tough book. This is a very hard topic but it has to be put forward!

STUNNING AND DISTURBING
As a parent, I was terrified and upset with the recent high profile kidnappings and murders of children that occured in 2002. This book recounts the events that captured this nation and why. What was most inspiring was the conclusion, which went on to offer a comprehensive answer to how parents can protect their own. With many interviews from law enforcement professionals and the National Center for Missing and Exploited Children, it was a book that I found educational and rewarding. However hard, we must learn from these crimes, and face them head on if we hope to learn anything. An engaging and hard topic, the authors bring us out the other side to do something good -- teach everyone that we can come out the other side, or Out of the Ashes, as one section is titled, describing how victimized parents made something good of something so tragic.


Traceable Temperatures
Published in Hardcover by John Wiley & Sons (01 February, 1994)
Authors: J. V. Nicholas and D. R. White
Average review score:

Informative book - wider than title implies
This book not only covers temperature trace ability but also covers subjects like how a temperature sensor's construction will affect the long-term stability of measurements. However information about how the associated measurement equipment is constructed and how it affects the long-term temperature measurement stability is not thoroughly discussed.

Some parts of the trace ability aspect are limited, for example, how error tolerance build up affects the finial specs, which can be claimed.

Good introductory book, easy to read.

all you want to know about temperature calibration
This one book covers alot of ground in enought detail to keep most of us happy...I havent found a single source which covers all the main bases this well.


Visit From Saint Nicholas
Published in Hardcover by Bantam Books (20 October, 1998)
Authors: Clement Clarke Moore and Kim Fernandes
Average review score:

Georgous!
Fabulous rendition of this popular tale. The clay artwork brings the story to life in the way that Rudolph the Red Nosed Reindeer's three dimensional story does on televison. My only sadness is that on the page where 'sugarplums dance in the childrens heads'--there aren't any sugarplums dancing!! (as a child I was always partial to that particular image). Other than that this really is a beautiful book and the nicest one I've seen of this story.

THE NIGHT BEFORE CHRISTMAS
THIS WAS JUST A WONDERFUL BOOK. I HAD PURCHASED IT FOR MY CHILDREN AROUD CHRISTMAS, AND WE READ IT 10 TIMES DURING
CHRISTMAS AND WHEN CHRISTMAS WAS OVER I WANTED TO PUT THE
BOOK IN THE ATTIC AND MY 8 YEAR OLD SON STOPPED ME WANTING
TO READ IT ALL YEAR LONG.ITS JUST A WONDERFUL BOOK FOR ALL
YEAR LONG!!


A Young Man's Journey With AIDS: The Story of Nick Trevor (Issues - Teen)
Published in School & Library Binding by Franklin Watts, Incorporated (September, 1997)
Author: Luellen K. Reese
Average review score:

A Young Man's Journey with AIDS
In this book Nick Trevor has found out that he has AIDS. His mother a strict catholic comes to terms with her son and both open up to a new way of thinking. They find the answer to the question when bad things happen to people, Will that make the person bad?

This book is different in that the voice of the writer switches from Nick to his mother. His mother being the true author works to write the book as if her son had written it himself. I found this different and interesting.

I was really impressed with this book on the way that Nick's mother shows how she accepted the fact that she would have to bury her son. Luellen, Nick's mother, was a strict catholic but supported her son when he was sick and needed help the most. The book takes you through both Nick and Luellen's saga as he slowly slips away. I liked that the book told the story of what happened not just the facts that AIDS is deadly and very painful to the person and the family. I think that Luellen through the book portrays a normal person in a changing world, at the start she knew very little about AIDS and what medicine could be taken. She has general stereotypes about AIDS victims and has to break through them so that she can help her son. In the book page 98 Luellen is meeting with a doctor and the doctor wants to know what she thinks about her son possibly being gay and waits for a reaction. "Look, Doctor, no parent would want their child to be homosexual. In this world, all other things being equal, the life of a homosexual is much more difficult row to hoe than the life of a heterosexual...But if my son is gay, he's gay, and I would love him just the same." So as this shows Luellen accepts what has happened to her son and works to help him enjoy his life and helps Nick fight until the end.

I really enjoyed the book and think that it would be something great for everyone to read. One area of improvement would be that sometimes it switches between who is writing and makes it hard to understand. Other than that, I think it is a great new look to a very modern topic and something that everyone could benefit from reading.

Excellent and true
Knowing nick in life did not take away the impact this book had on me. It tells his story and does it well. I commend Nicks mother for her courage in taking the time to write this story to share with everyone. I can only hope that this story has as much of an impact on people as Nick did in life.


The Time Machine (Broadview Literary Texts)
Published in Paperback by Broadview Press (February, 2001)
Authors: H. G. Wells, Nicholas Ruddick, and H.G Wells
Average review score:

Blast into the Future
The Time Machine, by H.G. Wells is a classic science fiction/fantasy novel. It is based in England around the late 1800's and also thousands of years into the future. It is an epic tale of a journey through time. Every one of the Time Traveler's friends and colleagues doubted him. They didn't believe that he had gone into the future. But he did. He visited a gentle breed called the Eloi. They were all alike. They dressed the same, walked the same, looked the same, and even reacted to life's conflicts in the same way. These identical "people" served him gratefully, giving him all the fruit he could ever want. He tried to learn the Eloi language, but their short attention spans caused him to not learn very much. The Time Traveler began to dream as to why this race of people was so alike. He couldn't figure it out. He decided that he had found himself in a utopian society, where neither reason nor strength was needed. He didn't find the real reason out, until he had discovered his time machine to be missing. Night fell and all he could do was search. When he found it he also discovered a horrifying secret about the reason as to why the Eloi were so perfect. It was a terrible secret, one that you will only know if you read this book. Believe me, it's quite a twist. All in all, I would have to recommend this book to anyone. It has elements of every genre in it: horror, science fiction, fantasy, drama, and comedy. It is just a really well rounded book that all can enjoy.

Truly a Classic!
OK, we've all seen at least one of the movie versions of H.G. Well's The Time Machine, but none of them truly compare with the oringinal Sci-Fi classic. The book tells the story of the Time Traveler's journey nearly a million years into the future and the very unexpected and disturbing society he finds there. The Time Traveler formulates various theories based on what he observes of the society, which each, in turn, prove to be oh, so wrong! [Warning: mild spoiler] In the end, his realization of the future is especially terrifying considering it is the result of our current social structure (or H.G. Well's, anyway).

I especially recommend this book for those of us with short attention spans - it's only 140 pages (and that's the large print version). But don't get the wrong idea, this book still has more depth and creativity than most 500 page books i've read and is a great read, even compared with today's science fiction standards.

This book has to be considered a classic considering it spawned a whole genre of time traveling books, movies, and tv shows whcih imitated it. Get a hold of a copy and read it today!

Absolutely gorgeous
Through several awful cinematic translations and countless badly executed literary extensions, HG Wells' great Science Fiction novel THE TIME MACHINE remains to this day a hallmark of the genre, untarnished by the later travesties committed in his name. Written in clear, illustrative and beguilingly gorgeous prose, Wells manages to paint a truly timeless and ultimately unforgettable portrait of the future that has well stood the test of time. There are problems with the novel - at times Wells seems impatient with necessary narrative elements and in a rush to get on with the greater issues at hand - but there is hardly anything better than his beautifully understated observations on man and his future in the entire canon of English literature.

Not just a greatly visualized and highly original piece of Science Fiction, Wells' novel remains timely in this day in age by tackling the disturbing question of man's ultimate fate in light of Charles Dawin's then revolutionary ideas as presented in THE ORIGIN OF THE SPECIES. Though typically we think of evolution as being linear, and POSITIVELY linear at that, in THE TIME MACHINE Wells addresses his anxiety that evolution may not always result in the positive progression of a species, but may, in fact, present just the opposite possibility - an eventual de-evolution, which Wells foresaw as the unavoidable social future of man, resultant of the extremely striated class structure and sociology of his times. Social politics aside, such is a piquant concept, and an enduring one that man still grapples with today, making this grandfather of Science Fiction worth another look.


Notebook
Published in Library Binding by Bt Bound (September, 2000)
Author: Nicholas Sparks
Average review score:

Are they still witing this awful stuff?
The most boring thing I've read in a long time. Two perfect people having a perfect romance. Skipped over a lot to get to the end which is slightly better than the rest.

The end is better then the beginning
Even though "The Notebook" is Nicholas Sparks first book, I read it after "A Walk to Remember" and "Message in a Bottle". This is a nice creative love story taking place in the late 1940's (post WWII). Noah has never forgotten his first love, Allie, and can't seem to get over her, and then she suddenly comes back into his life again. The problem? She is engaged to another man.

About halfway through the book we skip forward to the 1990's. Allie is now confined to a nursing home and suffering from Alzheimer's. Her husband reads her love story from a notebook everyday in the hopes of helping her remember who she is and who she loves. The identity of who her husband has been all these years is kept a secret until the very near the end of the book, and while it is quite obvious who he is, it really could have gone either way and still been a good book.

It's a story about true and long lasting love, apparently based on the author's own grandparents story. However, I found the sex scene grossly inappropriate for a story even loosly about his loved ones (really, do we need that many details? It's mainly gratuitous sex in a book...badly done). I found the rest of the story pretty good and mostly believable, although the end kind of lays in on a bit thick. For the most part, the second half of the story is far superior to the beginning, although the beginning is more romantic...or is it? You can decide that yourself.

This book is better then "Message in a Bottle" but I prefered "A Walk to Remember". However, I am still in search of good romance minus the smut that Sparks and many other authors find necessary. I'll just have to keep looking.

This one was enjoyable
I have to admit, when I neared the end of the book, I was looking for more information about what happened in between the initial romance and the ending days of their lives. But I realize now that the book needed to leave that less understood because it gave an easy to guess story a little more excitement and room for speculation. This has to be one of the most touching love stories that I have ever read. If you have ever encountered Alzheimer's within your family, this book may hit so close to home that it will scare you. Sparks is masterful at creating the perfect beginning to a love story. But his real genious is in the ending of the love story. You look at the whole situation in the storyline and can safely say that these two people had what most people can only find by reading a book like this: emotional, passionate, exciting, overwhelming love. I am so pleased that someone finally wrote a love story that actually feels like it could be real.


The Rescue
Published in Unknown Binding by Time Warner Audio Books (September, 2000)
Authors: Nicholas Sparks and Johnny Heller
Average review score:

Another romantic page-turner with an adventurous touch
If you like previous releases *Message in a Bottle" and *A Bend in the Road*, you would have fallen into this one as well. Consistent with all his novels, Nicholas Sparks conveys the message of the greatest commitment of all: to love someone forever. Volunteer fireman Taylor McAden is driven to horrendous and heroic risks to save lives. When he set out to search for Denise's 7-year-old son Kyle, Taylor never imagined that the encounter with the mother and son would force him to deal with fear, bitterness, and the troubled past in his heart. This resuce requires Taylor to open doors to his past slammed shout by pain. Will Taylor be able to overcome this pain with the help of Denise? Sparks has introduced and developed characters fully as well as their feelings, emotions, and thoughts. Sparks' writing is stirring once again. You'll be deeply moved at the part where Taylor found Kyle after the car accident. Sparks stirs our heart-strings again! Good read. 4.5 stars.

I devoured this book!
What an emotional experience it was. Maybe I was more involved in it than most because my husband has devoted his life to saving lives as a fire-fighter, but if you plan to read this book, which I hope you do, get ready for an emotional roller-coaster. The characters were wonderful, the writing wonderful, as usual, Mr. Sparks is a master at writing about love, life and death.
This novel grabs your attention immediately, as a young mother has an auto accident in the middle of a bad storm. She is knocked unconscious temporarily, and when she wakes up and turns around to check on her only passenger, her 4 yr. old son in the back youth car-seat, he is gone, the door open on his side. A volunteer fireman comes to her rescue and the story takes off from there as the search begins for Kyle, the young boy with learning disabilities, who can hardly talk, understand or be understood, making the search more intense for all involved. Tyler McAden is the fireman/rescuer of this woman, who puts himself in harm's way to rescue others and takes chances with his own life that even most firemen would not take. He is good at what he does, but the reader doesn't know what motivates and drives him until the end, and it is sooo moving, your heart just chokes up on you. The whole book has a lot of action, tender moments between its characters and is now my all-time favorite by Nicholas Sparks. I read the library's copy then went out and bought my own (yes, from Amazon) for my own library. Loved it!!

AMAZING!
Well, to be honest, I had never heard of Nicholas Sparks before..that is until I saw the movie "A Walk To Remember". That movie made me want to read the novel and I must say despite the bad reviews critics are giving it, i thought it was one of the best movies I've seen in a very long time. Anyways, seeing the movie made me want to read the book. As I read, I absolutely could not put the book down. Before i knew it 2 days had passed and I was finished. I was so impressed with Sparks' work that I then went out and purchased "The Rescue". Just when i thought that "A Walk To Remember" was his best work, I am finding that "The Rescue" was an even better book. I absolutely loved it. The thing i love about Nicholas Spark's writing is the fact that he gets soo deep into detail about the characters it makes you feel like you truly know them. I must say though, that the book was slightly predictable, well ok I could of predicted the way the story ended within the first 10 chapters, but something about the book just kept me reading. I'm going to tell you a little bit about myself. I am from Seattle, Wa and I graduated in 2000. The summer after i graduated i moved to Orlando, FL and got a job in retail. I chose to put off college simply cause of the fact that i wanted to go to school back home so i am waiting until next Jan to go back to school. But i haven't read a book since High School and now I love reading again. And i owe that all to Nicholas Sparks! He has a great talent for writing and it's impossible for me to put down any of his books. I'm going to read "A Bend in the Road" next. We'll see how that one goes!


Loop
Published in Library Binding by Bt Bound (September, 1999)
Author: Nicholas Evans
Average review score:

Wait for the paperback .... then borrow it.
I found an "advance reading copy" in a used bookstore in San Francisco, and thought, "Lucky Me! I get to read it before everyone else!", so bought it. Well ... you can't win 'em all. I'm not sure what happened. I can only guess that upon the phenomenal success of his first book (which I loved) and the movie (which did a fair job ... I was surprised that Redford felt the need to change the ending so drastically) that Evans was pushed into coming out with another novel - pronto. The result is a work which should have gone back to the drawing board. The characters are good ... the story is good ... (I won't divulge plot here ... that's what reading's all about, right??) but that is never enough for a book to not only hold your interest, but make you forget that you're reading at all, to "fall through the page" as Stephen King puts it. A book must have style. You must be able to trust the author, and reading "Horse Whisperer", I was able to do that. With "The Loop" I was not. At times the writing was downright painful. I will be curious to check this site in the coming weeks and see what others think of the book.

A superb modern western and morality tale
Young woman, and an even younger man, strive to save pack of wolves from angry ranchers while trying to overcome their own personal doubts and shortcomings. When they turn to each other for love, it threathens their mission. In "The Horse Whisperer," author Nicholas Evans showed how wounded people and animals can help each other. Now he's done it again in "The Loop." In both works, he proves to be a master in foreshadowing events, thereby creating masterful page-turners. But, while tension builds with each page in "The Loop," at its heart this work is a study of our humanity. Though the wolf can be a dangerous creature, when does man become the greater monster? As for the title, does it refer to the "circle" of life described by Black Elk in the front of the book? Or does it only represent the device of a cruel, haunted character named J.J.Lovelace, who kills entire families of wolves when the price is right? Part of the satisfaction is deciding for yourself. If you want forbidden love, betrayals, human conflicts, tragic loss, and a tale that makes you question your own level of humanity, then this is the book for you.

Fantastic Novel
The Loop is the first book I've read by Nicholas Evans and it won't be the last. His description of Hope (the characters and the setting itself) made the reader feel totally engrossed in the story. Each character was extremely well developed and had a necessary place in the story (which is something I often criticize other authors for not doing). The momentum of the storyline is a little slow through the middle but once the novel picks up memomentum, it doesn't disappoint! Very interesting subject matter (you can understand how both sides of the coin could feel very strongly about the wolves and their place in the community) but also light and entertaining (I loved Helen's relationship with her family and her own descriptions of herself. She very was humble from the first person narrative even though other narratives described her as very attractive and well respected by her colleagues). VERY SATISFYING READ!


A Bend in the Road
Published in Mass Market Paperback by Warner Books (01 July, 2002)
Author: Nicholas Sparks
Average review score:

Interesting enough - well told!
If you have read Sparks other books you may expect more, but I wasn't disappointed. It kept my interest, which is what you look for in a fast beach read. I thought The Rescue the best, and loved The Notebook and A Walk to Remember, but this has a good story, believable characters, and an interesting plot. I liked the way it was written with the "guilty" driver telling his part of the story. The main character's wife is killed by a hit and run driver after they have an argument, and he is left with his guilt, a son to take care of and the guilty driver to find, as he is the town cop. Sparks is a master at stories of love and death, and you can't help but get involved with his characters. He manages to do it all without a lot of explicit sex and foul language either. Take this along on a flight or a day at the beach, but don't miss "The Rescue" for an emotional ride and a story you won't soon forget!

A great book
In comparison to his other books this is different from what he usually writes. I admit that the book is a little predictable but I didn't care about 3/4 of the books I read are predictable nowadays.

Anyway, let me start off with the characters. They're have thier own unique ways, but how they act is actually completely different from how they are described in the book. They describe Miles as a patient man and calm, but later in the book he doesn't seem that way, but when you read it you'll understand why.

As you know, Sparks writes love stories that usually seem to take our heart away. I've read all 5 of his books and I can easily say that this was better than his others in thought, but not better in emotion. This love story is action packed. I keep hoping for another book to touch me the way THE NOTEBOOK did or A WALK TO REMEMBER did.

Anyway it was okay, very discriptivc and he does get to the point in the story. While this was action packed, in the end it leaves you feeling apathy towards the characters. I would've enjoyed this book more (and given it five stars) if the characters were more interesting and weren't so dul all the time.

While the overall story is good and the story plays out great, its a little fast at times and completely misses one point (I mean some of the events in the story were completely forgotten and left me asking questions.), it usually did turn out to be okay in the end. Another thing that would've made this book better is if he could've focused more on the characters. I mean more than just dialouge. Unless a character was angry at another character you had no idea how they felt or what they wanted.

Overall the book is an entertaing read with a few flaws here and there, but the book itself is a good read.

An intelligent romance
Nicholas Sparks is an expert at manipulating the reader's emotions and this book has its share of emotional ups and downs. The story concerns Miles Ryan, a deputy sheriff, whose beloved wife Missy has been killed by a hit-and-run driver. His life is consumed with grief and anger until he meets his son's teacher, Sarah Andrews. Miles begins to heal as his relationship with Sarah grows, but this is all disrupted when new evidence about Missy's murder is uncovered. The bonds of love and family fidelity are tested as disturbing new information is revealed. Sparks uses an interesting technique of interspersing short, stream-of-consciousness chapters by Missy's unknown murderer with the regular narrative, thus heightening suspense for the reader. This is another entertaining and engaging book by a good writer.


Fooled by Randomness: The Hidden Role of Chance in the Markets and in Life
Published in Hardcover by Texere (October, 2001)
Author: Nassim Nicholas Taleb
Average review score:

Some interesting discussion, but plenty of Taleb's large ego
As a professional options trader and familiar with Taleb's "Dynamic Options Hedging", I expected a very professional book with interesting insights into the human and mathematical aspects of probability and randomness.

And while the book does provide some of that, the valuable information is embedded in writing that is overly self-centered if not egomaniacal.

I'd like to point out that I REALLY wanted to love this book. But I didn't.

Taleb writes about interesting ways in which people do not understand randomness but he does it in a way which is unnecessarily insulting and condescending.

Even worse, I find him hypocritical. He spends a lot of energy talking about the value of being able to change one's mind, as well as the value of large sample sizes in probability-based decision making. But then he describes how far out of his way he goes to avoid information (which might cause him to change his mind or which would increase his sample size.) Further he implies that anyone who takes in certain information, like almost any form of news broadcast, must be an idiot and lives in a world of self-delusion.

Taleb writes like a smart but anti-social and holier-than-thou trader. He writes some very useful stuff about randomness and its misapplication in modern thinking. But then he goes on psychological tangents which are nothing more than trying (and failing) to find a mathematical basis on which to defend his personality foibles (flaws?).

He over-generalizes about trading in a style which he does not employ, i.e. selling premium or making bets based on past occurrences. He writes as if his way is the only way that makes sense, and implies that in the long run it is only because of randomness that anyone who does not trade the same way he does could be successful. ("Ergoditic" is definitely the best word in the book....)

Taleb gets very close to interesting discussions of a non-mathematical nature as well, such as the level of emotion involved with success or failure, as well as some interesting historical information. But he lessens the effect of the good writing by then telling us how all this fits into how he lives his life, using as many obscure references as possible, in an ongoing attempt to justify (to the reader or to himself?) the lifestyle he has created for himself. For example, he uses the above discussion to explain why he does not like to look at his own trading profit or loss statements. And he writes it in a way that shows he expects us to think he's brilliant or heroic for having such discipline. Very silly stuff....

Taleb describes his hero worship (of a philosopher named Popper) and it becomes clear that at least a partial goal of this book is to get the reader to revere (or emulate) Taleb the way he reveres (and tries to emulate) Popper. Unfortunately, it doesn't work that way.

Overall I found the probability discussion interesting, but not worth the tedium of having to listen as if the reader is Taleb's (badly needed) therapist.

Luckily for Taleb, he says directly in the book that he will ignore all reviews. I think you should be able to find a less tedious source for the bits of valuable information "Fooled By Randomness" provides without having to suffer the insufferable smugness of the author.

One big texas hedge (long implied volatility)
Read the other reviews to get the flavour of the book. I'll only add a few points that haven't been mentioned.

1) There is good advice on avoiding some common mistakes that lead to "blowing up", which will prove useful to inexperienced market practitioners.
2) Taleb's own (claimed) trading methodology (buying OTM options) could easily fall victim to the "black swan" problem. A regime change to persistently higher implied than actual volatility would result in extended losses for his fund (unless he is bluffing us about its methodology).
3) Taleb only focuses on cases where volatility is underpriced - but some of the best opportunities come when it is overpriced, during market panics. Yet according to what he says in the book, one should continue buying such overpriced volatility! As someone whose bread and butter trade is fading market panics, I can confirm that premium selling can be highly profitable - the trick is to sell at the right time, and to employ risk control. Just because some practitioners are incapable of this, does not invalidate the method, any more than OTM options buying is invalidated because many naive speculators buy in a panic just before the VIX is about to collapse.
4) Taleb lumps MBA and businessmen types into the "fool" category. This misses the point. 99% of business is not about risk-assessment, dazzling insight, or grand strategic thought, but about successful *execution* of obvious ideas, and hard work. How many eggheads have had great ideas, but never done anything to put them into action? There is no point knowing that a beach bar in the Bahamas might be destroyed every 10 years by a hurricane, if you aren't even capable of raising capital, employing people, or working 16 hour days getting it off the ground. Good MBAs and CEOs will in any case employ people like Taleb to assess risk for them.
5) Taleb ignores the possiblity of using praxeological analysis (i.e. taking a set of demonstrable a priori truths, then using a logical train of deduction to discover what those truths necessarily imply about reality) to avoid the survivorship bias & noise problems. E.g. you can predict the effect of supply and demand on price without having to test it in the real world. This technique has been used by Murray Rothbard in economics (which has an even greater "non-falsifiability" problem than trading), and Warren Buffett in investing. As an example, you *can* judge if a good track record is "skill" or "luck", by examining the methodology of the trader/investor. If they operated solely during a period favourable to their style, it is probably luck e.g. if they made money buying emerging market bonds from 1994-1998. If they made a bucketload trading a style that was *against* the market regime, then it is almost certainly skill e.g. someone who made good returns as a shortseller of tech stocks from 1997-2000; or someone who has successfully sold premium during market panics. Since Taleb is a follower of Popper, and a hardened quant, it should come as no surprise that he is ignorant of praxeology, but it is a huge oversight all the same.
6) Taleb's scorning of Buffett as a lucky fool is ignorant in the extreme. Buffett clearly did *not* use naive analysis of past data to make his investment decisions, or rely on luck (he did well from 1969-82, a terrible period for equities). Rather he deduced highly probably consequences from demonstrable truths about investment (i.e. firms with pricing power, high barriers to entry, and low working capital requirements are likely to perform very well), and then saw that the market was not pricing these factors efficiently. Anyone reading his writings can see this. And Buffett's approach is ironically more rigorous and less dependent on luck than Taleb's professed trading methods. To elaborate - Taleb is relying on "black swan" events happening more often than people think. Therefore EITHER a reduction in the frequency of these events, OR an increase in people's expectation of them, would be enough to invalidate Taleb's approach - clearly neither can be ruled out. Taleb thinks he is betting on black swan events occuring, whilst ignoring the possibility of the "black swan" of major regime change making his own system unprofitable. Whereas with Buffet, the laws of supply and demand, and basic investment/economics, ensure that certain business methods will *always* work better than others.

To conclude - Taleb thinks he has a great idea, but it was already well known by most experienced market practitioners (see the Market Wizards books etc where multiple traders continually bang on about rare event risk and fat tailed probability distributions). He then goes on as if this idea is the only important thing, which is clearly not the case. Finally, he critiques some people, such as Buffett, who use totally rigorous methodologies, whilst himself employing a strategy that is by no means foolproof, and relies largely on past observation (data-mining!) to form its conclusions. All I can say is that he better watch out for the black swan of long-term declining volatility over the next decade!

Finally, I would just say that I found the book enjoyable, it's just that (luckily for future my P&L) Taleb hasn't got everything worked out just yet :) Looking forward to the follow-up Nassim!

Unconventional and thought-provoking.
To anyone who has ever traded the markets long enough to survive the occasional blow-up, Nassim's book gives one plenty to think about. I've had my own share of "fat-tail" events over the past eight years while I evolved from amateur trader to professional money manager, and only when one's mind gathers a need to address such issues does a book like this become more relevant. You know how the saying goes, "When the student is ready, the teacher will come."

Practitioners with rigorous experience in the markets and who place importance in critical-thinking approaches will find value in the unconventional thought patterns presented in this book, and will make one think about the nature of one's past successes in the market and the biases inherent in one's methodologies to reach such success.

This is highly relevant for critical thinkers who (1) practice prudent money management rules and (2) speculate on the market.

For money management practioners, the concepts of bias exposure and the often-raised 'black swan' problem (i.e., no matter how many confirming data points you present, you can never really prove something is always right, but with only one contradicting piece of evidence, you can prove something is wrong) are central themes of the book, and increase one's awareness and ability to implement risk management methodologies to control for changing fundamental landscapes and the unexpected 'five-sigma' events (which occur more frequently than models suggest)--concepts alone that are worth more than the value of the book.

This book is also noteworthy for speculators who wish to develop an increased awareness of the nature of the 1-2% of your trades that can blow up a good chunk of one's entire equity. The mark of a mature speculator is one who learns that prevention of blow-ups can be far more valuable than an outright win. This book leads you further along that path.

From someone who lives and dies by the everyday decisions in the market, I highly recommend this book for your consideration.


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