The (Mis)Behaviour of Markets [Hardback]A Fractal View of Risk, Ruin and Rewardby Benoit Mandelbrot and Richard HudsonThis book is OUT OF PRINT You may be able to find a copy at ABE Books Description of The (Mis)Behaviour of MarketsFrom the world-famous inventor of fractal geometry, a revolutionary new theory that turns on its head our understanding of how markets work.Fractal geometry is the mathematics of roughness: how to reduce the outline of a jagged leaf, a rocky coastline or static in a computer connection to a few simple mathematical properties - to make the complex simple. With his fractal tools, Benoit Mandelbrot has got to the bottom of how financial markets really work. He finds they have a shifting sense of time, a unique dimension and a wild kind of behaviour that makes them volatile, dangerous - and also beautiful. In Mandelbrot's fractal models, the complex gyrations of IBM’s stock price, the FTSE 100, cotton trading and exchange rates can be reduced to straightforward formulae that yield a much more accurate description of the risks involved. Title Information
Financial Guru ReviewsAccording to conventional financial theory, the odds of calamitous events in the market are extremely long. So long they ought not to happen. But as any investor will tell you companies go bust all the time. Markets crash. And products we supposed were safe turn out to be leaky junks sinking into the ocean swell. Mandelbrot has an alternative model, fractals, the geometry he invented to describe coastlines, the inside of your lung and the distribution of earthquakes. It might one day change the way we value investments.Richard Beddard Write a review of this book Customer Reviews from Amazon |
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