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The Misbehavior Of Markets - A Fractal View Of Risk, Ruin, And Reward (Paperback, Annotated Ed)
Loot Price: R730
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The Misbehavior Of Markets - A Fractal View Of Risk, Ruin, And Reward (Paperback, Annotated Ed)
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Mathematical superstar and inventor of fractal geometry, Benoit
Mandelbrot, has spent the past forty years studying the underlying
mathematics of space and natural patterns. What many of his
followers don't realize is that he has also been watching patterns
of market change. In "The (Mis)Behavior of Markets," Mandelbrot
joins with science journalist and former "Wall Street Journal"
editor Richard L. Hudson to reveal what a fractal view of the world
of finance looks like. The result is a revolutionary reevaluation
of the standard tools and models of modern financial theory.
Markets, we learn, are far riskier than we have wanted to believe.
From the gyrations of IBM's stock price and the Dow, to cotton
trading, and the dollar-Euro exchange rate--Mandelbrot shows that
the world of finance can be understood in more accurate, and
volatile, terms than the tired theories of yesteryear.The ability
to simplify the complex has made Mandelbrot one of the century's
most influential mathematicians. With "The (Mis)Behavior of
Markets," he puts the tools of higher mathematics into the hands of
every person involved with markets, from financial analysts to
economists to 401(k) holders. Markets will never be seen as "safe
bets" again.
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