This international bestseller, which foreshadowed a market crash, explains why it could happen again if we don't act now. Fractal geometry is the mathematics of roughness: how to reduce the outline of a jagged leaf or static in a computer connection to a few simple mathematical properties. With his fractal tools, Mandelbrot has got to the bottom of how financial markets really work. He finds they have a shifting sense of time and wild behaviour that makes them volatile, dangerous - and beautiful. In his models, the complex gyrations of the FTSE 100 and exchange rates can be reduced to straightforward formulae that yield a much more accurate description of the risks involved.
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Benoit Mandelbrot is Professor of Mathematical Sciences at Yale University. He is the inventor of fractal geometry, he was a leading figure in James Gleick's Chaos and has received the Wolf Prize in Physics, the Japan Prize in science and technology and numerous other awards. Richard Hudson is the former managing editor of Wall Street Journal Europe
'Surprisingly entertaining ... As the founder of fractal geometry and the discoverer of the Mandelbrot set Mandelbrot is acknowledged as the father of chaos theory ... he is, simply, very clever indeed.' Martin Baker, Sunday Telegraph 'The reader gets a clear picture of the history of finance theory ... the best financial read since Nassim Nicholas Taleb's Fooled by Randomness.' Philip Coggan, Financial Times 'One of the 20th century's most celebrated mathematicians ... devastating analysis.' Financial Times
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Paperback. Condition: new. Paperback. Benoit Mandelbrot, father of fractal geometry, revolutionised our understanding of the models of modern financial theory. This new edition includes material on the current market crisis, calling for an end to the tunnel vision of our bankers whose over-confidence in their understanding of markets ended in catastrophe. Fractal geometry is the mathematics of roughness: how to reduce the outline of a jagged leaf or static in a computer connection to a few simple mathematical properties. With his fractal tools, Mandelbrot has got to the bottom of how financial markets really work. He finds they have a shifting sense of time and wild behaviour that makes them volatile, dangerous, and beautiful. In his models the complex gyrations of the FTSE 100 and exchange rates can be reduced to straightforward formulae that yield a much more accurate description of the risks involved. The international bestseller that foreshadowed a market crash, with new material on the current financial crisis. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9781846682629
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