From the inventor of fractal geometry, a revolutionary new theory that overturns our understanding of how markets work. 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 , Mandelbrot here uses fractal geometry to propose a new,...
Visa mer
Recensioner
Bli först med att recensera denna bok
