The (mis)behavior of markets : a fractal view of risk, ruin, and reward
著者
書誌事項
The (mis)behavior of markets : a fractal view of risk, ruin, and reward
Published by Basic Books, c2004
- タイトル別名
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Misbehavior of markets
Behavior of markets
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注記
Includes bibliographical references and index
収録内容
- Risk, ruin, and reward
- By the toss of a coin or the flight of an arrow?
- Bachelier and his legacy
- The house of modern finance
- The case against the modern theory of finance
- Turbulent markets : a preview
- Studies in roughness : a fractal primer
- The mystery of cotton
- Long memory, from the Nile to the marketplace
- Noah, Joseph and market bubbles
- The multifractal nature of trading time
- Ten heresies of finance
- In the lab
内容説明・目次
内容説明
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, more accurate way of describing market behavior. The complex gyrations of IBM's stock price and the dollar-euro exchange rate can now be reduced to straightforward formulae that yield a far better model of how risky they are. With his fractal tools, Mandelbrot has gotten to the bottom of how financ
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