The (Mis)Behaviour of Markets : A Fractal View of Risk, Ruin and Reward Paperback
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.
- Format: Paperback
- Pages: 352 pages
- Publisher: Profile Books Ltd
- Publication Date: 01/11/2008
- Category: Economics
- ISBN: 9781846682629