Tag Archives: Leonard Mlodinow

Book Review: The Drunkard’s Walk: How Randomness Rules Our Lives. Leonard Mlodinow

Leonard Mlodinow weaves a compelling path through the world of statistical probability showing us how the laws of chance affect our lives on personal and grande scales. Mlodinow skillfully illustrates randomness and its profound implications by presenting complex mathematical constructs in language for the rest of us (non-mathematicians), without dumbing-down this important subject.

The book defines many of the important mathematical concepts behind randomness and exposes the key fallacies that often blind us as we wander through life on our “drunkard’s walk”. The law of large numbers, the prosecutor’s fallacy, conditional probability, the availability bias and bell curves were never so approachable.

Whether it’s a deluded gambler, baseball star on a “winning streak” or a fortunate CEO wallowing in the good times, Mlodinow debunks the common conceptions that skill, planning and foresight result in any significant results beyond pure chance. With the skill of a storyteller Mlodinow shows us how polls, grades, ratings and even measures of corporate success are far less objective and reliable than we ought to believe. Lords of Wall Street take notice, the secrets of your successes are not all that they seem.