Download The Misbehavior of Markets: A Fractal View of Financial Turbulence Writen By Beno?t B. Mandelbrot

The Misbehavior of Markets: A Fractal View of Financial Turbulence

By : Beno?t B. Mandelbrot

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Book Synopsis :

Benoit B. Mandelbrot, one of the century's most influential mathematicians, is world-famous for 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 classic lines we can now add another example: Markets are not the safe bet your broker may claim.In his first book for a general audience, Mandelbrot, with co-author Richard L. Hudson, shows how the dominant way of thinking about the behavior of markets-a set of mathematical assumptions a century old and still learned by every MBA and financier in the world-simply does not work. As he did for the physical world in his classic The Fractal Geometry of Nature , Mandelbrot here uses fractal geometry to propose a new, more accurate way of describing market behavior. The complex gyrations of IBM's stock price and the dollar-euro exchange rate can now be reduced to straightforward formulae that yield a

Book Detail :

Author : Beno??t B. Mandelbrot

Pages : 368 pages

Publisher : Basic Books

Language :

ISBN-10 : 0465043577

ISBN-13 : 9780465043576

 

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