The Misbehavior of Markets: A Fractal View of Financial Turbulence

Mathematical superstar and inventor of fractal geometry, Benoit Mandelbrot, has spent the past forty years studying the underlying mathematics of space and natural patterns. What many of his followers don't realize is that he has also been watching patterns of market change. In The (Mis)Behavior of Markets, Mandelbrot joins with science journalist and former Wall Street Journal editor Richard L. Hudson to reveal what a fractal view of the world of finance looks like. The result is a revolutionary reevaluation of the standard tools and models of modern financial theory. Markets, we learn, are far riskier than we have wanted to believe. From the gyrations of IBM's stock price and the Dow, to cotton trading, and the dollar-Euro exchange rate--Mandelbrot shows that the world of finance can be understood in more accurate, and volatile, terms than the tired theories of yesteryear.The ability to simplify the complex has made Mandelbrot one of the century's most influential mathematicians. With The (Mis)Behavior of Markets, he puts the tools of higher mathematics into the hands of every person involved with markets, from financial analysts to economists to 401(k) holders. Markets will never be seen as "safe bets" again.

• The Fractal Geometry of Nature
• Dynamic Hedging: Managing Vanilla and Exotic Options
• The Dao of Capital: Austrian Investing in a Distorted World
• Skin in the Game: Hidden Asymmetries in Daily Life
• The Bed of Procrustes: Philosophical and Practical Aphorisms (Incerto)
• Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets (Incerto)
• Devil Take the Hindmost: A History of Financial Speculation
• KELLY CAPITAL GROWTH INVESTMENT CRITERION, THE: THEORY AND PRACTICE (World Scientific Handbook in Financial Economics)
• The Black Swan: Second Edition: The Impact of the Highly Improbable: With a new section: "On Robustness and Fragility" (Incerto)
• Antifragile: Things That Gain from Disorder (Incerto)