The Misbehavior of Markets: A Fractal View of Financial Turbulence
 Book
 Sep 18, 1997
 #Economics
Book
A groundbreaking mathematician presents a new model for understanding financial markets
Benoit B. Mandelbrot is worldfamous for inventing fractal geometry, making mathematical sense of a fact everybody knows but that geometers from Euclid on down had never assimilated: Clouds are not round, mountai...
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Number of Pages: 368
ISBN: 0465043577
ISBN13: 9780465043576
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Recommendations from around the web and our community.
As mentioned in the introduction to this chapter, of all of the dissenting work on the EMH, we most recommend by far, Andrew Lo’s “adaptive markets hypothesis” the original paper and the follow up book of the same name, as well as the various thoughts of Benoit Mandelbrot on fract...
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As mentioned in the introduction to this chapter, of all of the dissenting work on the EMH, we most recommend by far, Andrew Lo’s “adaptive markets hypothesis” the original paper and the follow up book of the same name, as well as the various thoughts of Benoit Mandelbrot on fractals in financial markets  strewn across numerous academic papers but lucidly conveyed in the popular book the “misbehaviour of markets” and George Gilder’s “knowledge and power”

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A groundbreaking mathematician presents a new model for understanding financial markets
Benoit B. Mandelbrot is worldfamous for inventing fractal geometry, making mathematical sense of a fact everybody knows but that geometers from Euclid on down had never assimilated: Clouds are not round, mountains are not cones, coastlines are not smooth. To these insights we can now add another example: Markets are not the safe bet your broker may claim.
Mandelbrot, with coauthor Richard L. Hudson, shows how the dominant way of thinking about the behavior of marketsa set of mathematical assumptions a century old and still learned by every MBA and financier in the worldsimply does not work. He uses fractal geometry to propose a new, more accurate way of describing market behavior. From the gyrations of the Dow to the dollareuro exchange rate, Mandlebrot shows how to understand the volatility of markets in far more accurate terms than the failed theories that have repeatedly brought the financial system to the brink of disaster. The result is no less than the foundation for a new science of finance.
(From Goodreads)