The (Mis)Behaviour of Markets: A Fractal View of Risk, Ruin and Reward (New Edition)
This international bestseller, which foreshadowed a marketcrash, explains why it could happen again if we don't act now.Fractal geometry is the mathematics of roughness: how to reduce theoutline of a jagged leaf or static in a computer connection to afew simple mathematical properties. With his fractal tools,Mandelbrot has got to the bottom of how financial markets reallywork. He finds they have a shifting sense of time and wildbehaviour that makes them volatile, dangerous - and beautiful. Inhis models, the complex gyrations of the FTSE 100 and exchangerates can be reduced to straightforward formulae that yield a muchmore accurate description of the risks involved.