In times of crises or the face of unprecedented events, most people are left floundering unable to react or deal with the prevailing environment. The world is currently going through one such event – the coronavirus and its spread across the globe. While it is a health crisis of the highest order, the contagion is also likely to have a deep impact on the economic landscape of the world. In recent history, another similar crisis that comes to mind is the 2008 financial crisis that caused a different kind of turmoil across the world and nudged many countries into recession. While such crises bring to the fore the importance of risk assessment and risk management, they also tell us that random events can happen. And when such events do happen, they can play an important role in our lives and the markets. Fooled by Randomness by Nassim Nicholas Taleb is an excellent book that makes this complex subject accessible. Taleb instructs us on how to account for randomness in our decision making and illustrates the many ways in which we confuse luck with skill.