The Mis Behavior Of Markets
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The Mis Behaviour Of Markets
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Author : Benoit B. Mandelbrot
language : en
Publisher: Profile Books
Release Date : 2010-10-01
The Mis Behaviour Of Markets written by Benoit B. Mandelbrot and has been published by Profile Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10-01 with Business & Economics categories.
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.
The Mis Behaviour Of Markets
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Author : Benoit B. Mandelbrot
language : en
Publisher:
Release Date : 2004-01-01
The Mis Behaviour Of Markets written by Benoit B. Mandelbrot and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-01-01 with Capital market categories.
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.
The Mis Behavior Of Markets
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Author : Benoit B. Mandelbrot
language : en
Publisher:
Release Date : 2006
The Mis Behavior Of Markets written by Benoit B. Mandelbrot and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Capital market categories.
The Misbehavior Of Markets
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Author : Benoit Mandelbrot
language : en
Publisher: Basic Books
Release Date : 2006-03-07
The Misbehavior Of Markets written by Benoit Mandelbrot and has been published by Basic Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-03-07 with Mathematics categories.
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 Misbehavior Of Markets
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Author : Benoit B. Mandelbrot
language : en
Publisher: Basic Books
Release Date : 2004-08-03
The Misbehavior Of Markets written by Benoit B. Mandelbrot and has been published by Basic Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-08-03 with Business & Economics categories.
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 The Fractal Geometry of Nature , 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 financial markets really work, and in doing so, he describes the volatile, dangerous (and strangely beautiful) properties that financial experts have never before accounted for. The result is no less than the foundation for a new science of finance.
The Misbehavior Of Markets
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Author : Benoit Mandelbrot
language : en
Publisher:
Release Date : 2006
The Misbehavior Of Markets written by Benoit Mandelbrot and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
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 Fractalist
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Author : Benoit Mandelbrot
language : en
Publisher: Vintage
Release Date : 2012-10-30
The Fractalist written by Benoit Mandelbrot and has been published by Vintage this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-10-30 with Biography & Autobiography categories.
A fascinating memoir from the man who revitalized visual geometry, and whose ideas about fractals have changed how we look at both the natural world and the financial world. Benoit Mandelbrot, the creator of fractal geometry, has significantly improved our understanding of, among other things, financial variability and erratic physical phenomena. In The Fractalist, Mandelbrot recounts the high points of his life with exuberance and an eloquent fluency, deepening our understanding of the evolution of his extraordinary mind. We begin with his early years: born in Warsaw in 1924 to a Lithuanian Jewish family, Mandelbrot moved with his family to Paris in the 1930s, where he was mentored by an eminent mathematician uncle. During World War II, as he stayed barely one step ahead of the Nazis until France was liberated, he studied geometry on his own and dreamed of using it to solve fresh, real-world problems. We observe his unusually broad education in Europe, and later at Caltech, Princeton, and MIT. We learn about his thirty-five-year affiliation with IBM’s Thomas J. Watson Research Center and his association with Harvard and Yale. An outsider to mainstream scientific research, he managed to do what others had thought impossible: develop a new geometry that combines revelatory beauty with a radical way of unfolding formerly hidden laws governing utter roughness, turbulence, and chaos. Here is a remarkable story of both the man’s life and his unparalleled contributions to science, mathematics, and the arts.
Fractals And Scaling In Finance
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Author : Benoit B. Mandelbrot
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-03-09
Fractals And Scaling In Finance written by Benoit B. Mandelbrot and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-09 with Mathematics categories.
Mandelbrot is world famous for his creation of the new mathematics of fractal geometry. Yet few people know that his original field of applied research was in econometrics and financial models, applying ideas of scaling and self-similarity to arrays of data generated by financial analyses. This book brings together his original papers as well as many original chapters specifically written for this book.
The Dao Of Capital
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Author : Mark Spitznagel
language : en
Publisher: John Wiley & Sons
Release Date : 2013-08-16
The Dao Of Capital written by Mark Spitznagel and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-08-16 with Business & Economics categories.
As today's preeminent doomsday investor Mark Spitznagel describes his Daoist and roundabout investment approach, “one gains by losing and loses by gaining.” This is Austrian Investing, an archetypal, counterintuitive, and proven approach, gleaned from the 150-year-old Austrian School of economics, that is both timeless and exceedingly timely. In The Dao of Capital, hedge fund manager and tail-hedging pioneer Mark Spitznagel—with one of the top returns on capital of the financial crisis, as well as over a career—takes us on a gripping, circuitous journey from the Chicago trading pits, over the coniferous boreal forests and canonical strategists from Warring States China to Napoleonic Europe to burgeoning industrial America, to the great economic thinkers of late 19th century Austria. We arrive at his central investment methodology of Austrian Investing, where victory comes not from waging the immediate decisive battle, but rather from the roundabout approach of seeking the intermediate positional advantage (what he calls shi), of aiming at the indirect means rather than directly at the ends. The monumental challenge is in seeing time differently, in a whole new intertemporal dimension, one that is so contrary to our wiring. Spitznagel is the first to condense the theories of Ludwig von Mises and his Austrian School of economics into a cohesive and—as Spitznagel has shown—highly effective investment methodology. From identifying the monetary distortions and non-randomness of stock market routs (Spitznagel's bread and butter) to scorned highly-productive assets, in Ron Paul's words from the foreword, Spitznagel “brings Austrian economics from the ivory tower to the investment portfolio.” The Dao of Capital provides a rare and accessible look through the lens of one of today's great investors to discover a profound harmony with the market process—a harmony that is so essential today.
Misbehaving
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Author : Richard H. Thaler
language : en
Publisher: Penguin UK
Release Date : 2015-05-07
Misbehaving written by Richard H. Thaler and has been published by Penguin UK this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-05-07 with Business & Economics categories.
RICHARD H. THALER: WINNER OF THE 2017 NOBEL PRIZE IN ECONOMICS Shortlisted for the Financial Times and McKinsey Business Book of the Year Award ECONOMIST, FINANCIAL TIMES and EVENING STANDARD books of the year From the renowned and entertaining behavioural economist and co-author of the seminal work Nudge, Misbehaving is an irreverent and enlightening look into human foibles. Traditional economics assumes that rational forces shape everything. Behavioural economics knows better. Richard Thaler has spent his career studying the notion that humans are central to the economy - and that we're error-prone individuals, not Spock-like automatons. Now behavioural economics is hugely influential, changing the way we think not just about money, but about ourselves, our world and all kinds of everyday decisions. Whether buying an alarm clock, selling football tickets, or applying for a mortgage, we all succumb to biases and make decisions that deviate from the standards of rationality assumed by economists. In other words, we misbehave. Dismissed at first by economists as an amusing sideshow, the study of human miscalculations and their effects on markets now drives efforts to make better decisions in our lives, our businesses, and our governments. Coupling recent discoveries in human psychology with a practical understanding of incentives and market behaviour, Thaler enlightens readers about how to make smarter decisions in an increasingly mystifying world. He reveals how behavioural economic analysis opens up new ways to look at everything from household finance to assigning faculty offices in a new building, to TV quiz shows, sports transfer seasons, and businesses like Uber. When economics meets psychology, the implications for individuals, managers and policy makers are both profound and entertaining.