In 'Misbehavior of Markets', Benoit Mandelbrot and Richard Hudson challenge the conventional wisdom of financial markets as rational systems. They argue that market behavior is far more chaotic and unpredictable, resembling natural phenomena rather than orderly statistics. Through groundbreaking insights, they reveal the flaws in traditional economic models and introduce fractal geometry as a lens for understanding market fluctuations. This book not only reshapes the way we perceive risk and investment but also invites readers to rethink the assumptions underpinning economic theories. Prepare to discover a new reality where markets thrive on complexity and uncertainty!
By Benoit B. Mandelbrot, Richard L. Hudson
Published: 2004
"Financial markets are much more complex and turbulent than the standard models suggest; they are not just a game of chance, but a reflection of human behavior and the unpredictable nature of the world."
The originator of "fractal geometry" applies his theory to the stock market, revealing the chaos underneath commonly accepted patterns of rise and fall in the market, creating the foundations for a new "science of finance" in the process. 100,000 first printing.
Benoit B. Mandelbrot was a renowned mathematician and the father of fractal geometry, whose innovative thinking transformed the way we understand complex shapes and patterns in nature. He is best known for his seminal works, including "The Fractal Geometry of Nature" and "The Misbehavior of Markets," which explore the implications of fractal theory in various fields, from mathematics to finance. Mandelbrot's writing style is characterized by its accessibility, combining rigorous mathematical concepts with vivid illustrations, making complex ideas approachable for both scholarly and general audiences. His contributions have had a lasting impact on mathematics, art, science, and economics.
Richard L. Hudson is an accomplished author known for his insightful exploration of themes such as identity, culture, and the human experience. His notable works include the critically acclaimed novels 'Shades of Belonging' and 'Echoes of Silence,' both praised for their rich character development and evocative prose. Hudson's writing style is characterized by a lyrical narrative and a keen attention to detail, inviting readers to engage deeply with the emotional landscapes of his characters. In addition to fiction, Hudson has contributed essays and articles to various literary publications, further showcasing his versatility as a writer.
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“Financial markets are much more complex and turbulent than the standard models suggest; they are not just a game of chance, but a reflection of human behavior and the unpredictable nature of the world.”
Misbehavior of Markets
By Benoit B. Mandelbrot, Richard L. Hudson
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