There are five top hats and five gentlemen. If the five gentlemen pool their top hats and redistribute them at random, what is the probability that none of the gentlemen would have his original top hat?
My original attempt was to directly calculate this using basic combinatorics. The entire number of possible outcomes is $5!$. Now the cases where none of the top hats are matched can be found by $4 \times 4 \times 3 \times 2 \times 1$, where the 4 at the beginning ensures that the first gentleman does not get his top hat.
I understand the probability obtained from the calculation above is wrong, but I do not see why. More importantly, it is not clear to me in what kind of situations I would need to use the exclusion-inclusion principle rather than the straight-forward approach that I used above.