The (Mis)Behaviour of Markets: A Fractal View of Risk, Ruin and Reward

Hudson, Richard L.,Mandelbrot, Benoit B.

ISBN 10: 1861977905 / ISBN 13: 9781861977908

Published by Profile Books, 2005

About this Item

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Bibliographic Details

• Title: The (Mis)Behaviour of Markets: A Fractal View of Risk, Ruin and Reward
• Publisher: Profile Books
• Publication Date: 2005
• Language: English
• ISBN 10: 1861977905
• ISBN 13: 9781861977908
• Binding: paperback
• Condition: Acceptable
• Dust Jacket Condition: Dust Jacket Included

About this title

Synopsis

From the world-famous inventor of fractal geometry, a revolutionary new theory that turns on its head our understanding of how markets work. Fractal geometry is the mathematics of roughness: how to reduce the outline of a jagged leaf, a rocky coastline or static in a computer connection to a few simple mathematical properties - to make the complex simple. With his fractal tools, Benoit Mandelbrot has got to the bottom of how financial markets really work. He finds they have a shifting sense of time, a unique dimension and a wild kind of behaviour that makes them volatile, dangerous - and also beautiful. In Mandelbrot's fractal models, the complex gyrations of IBM's stock price, the FTSE 100, cotton trading and exchange rates can be reduced to straightforward formulae that yield a much more accurate description of the risks involved.

About the Author

Richard L. Hudson is a former managing editor of Wall Street Journal Europe.