Today's top financial-risk professionals have come to rely on ever-more sophisticated mathematics in their attempts to come to grips with financial risk. But this excessive reliance on quantitative precision is misleading--and it puts us all at risk. This is the case that Riccardo Rebonato makes in Plight of the Fortune Tellers--and coming from someone who is both an experienced market professional and an academic, this heresy is worth listening to. Rebonato forcefully argues that we must restore genuine decision making to our financial planning, and he shows us how to do it using probability, experimental psychology, and decision theory. This is the only way to effectively manage financial risk in a manner congruent with how human beings actually react to chance. Rebonato challenges us to rethink the standard wisdom about probability in financial-risk management. Risk managers have become obsessed with measuring risk and believe that these quantitative results by themselves can guide sound financial choices--but they can't. In this book, Rebonato offers a radical yet surprisingly commonsense solution, one that seeks to remind us that managing risk comes down to real people making decisions under uncertainty. Plight of the Fortune Tellers is not only a book for the decision makers of Wall Street, it's a must-read for anyone concerned about how today's financial markets are run. The stakes have never been higher--can you risk it?

A retired accountant finds a new calling as the town fortune-teller in this “charming, warm, and wittily told” debut novel (Kirkus Reviews). Norbert Zelenka has always lived life on the sidelines. It’s why at seventy-three years old he’s broke and alone except for the company of a Chihuahua. But when “Carlotta’s Club” —three strong-willed seniors with plenty of time on their hands—decide to make Norbert their latest project, he reluctantly agrees to their scheme: establishing himself as the town’s fortune-teller. Soon his life begins changing in unexpected ways. It turns out that years of observing other people make Norbert an excellent card reader. As Norbert’s lonesome world expands with new friendships and a newfound self-confidence, he finally finds what he never had—a place to belong. But disaster looms on the horizon. When a troubled young woman goes missing after a bad reading, Norbert must find a strength beyond the cards to bring her home safely.

NOW A USA TODAY AND LOS ANGELES TIMES BESTSELLER From the award-winning author of The Memory Painter comes a sweeping and suspenseful tale of romance, fate, and fortune. Semele Cavnow appraises antiquities for an exclusive Manhattan auction house, deciphering ancient texts—and when she discovers a manuscript written in the time of Cleopatra, she knows it will be the find of her career. Its author tells the story of a priceless tarot deck, now lost to history, but as Semele delves further, she realizes the manuscript is more than it seems. Both a memoir and a prophecy, it appears to be the work of a powerful seer, describing devastating wars and natural disasters in detail thousands of years before they occurred. The more she reads, the more the manuscript begins to affect Semele’s life. But what happened to the tarot deck? As the mystery of her connection to its story deepens, Semele can’t shake the feeling that she’s being followed. Only one person can help her make sense of it all: her client, Theo Bossard. Yet Theo is arrogant and elusive, concealing secrets of his own, and there’s more to Semele’s desire to speak with him than she would like to admit. Can Semele even trust him? The auction date is swiftly approaching, and someone wants to interfere—someone who knows the cards exist, and that the Bossard manuscript is tied to her. Semele realizes it’s up to her to stop them: the manuscript holds the key to a two-thousand-year-old secret, a secret someone will do anything to possess.

This guide to fortune telling includes practical hints and tips on a wide variety of fortune telling techniques.

When she learns that the recently widowed Mrs. Kittredge is making regular visits to a fortune-teller and turning over large sums of money to Madame Destiny, Nancy decides to investigate.