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List Price: $17.95Amazon.com's Price: $12.50 You Save: $5.45 (30%)as of 03/16/2010 16:34 EDT
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Binding: Paperback
Dewey Decimal Number: 332.01
EAN: 9780465043576
Edition: annotated edition
ISBN: 0465043577
Label: Basic Books
Manufacturer: Basic Books
Number Of Items: 1
Number Of Pages: 368
Publication Date: March 07, 2006
Publisher: Basic Books
Studio: Basic Books
Features:- ISBN13: 9780465043576
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
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Editorial Review:
Product Description:
From the inventor/founder of fractal geometry, the award-winning book that turns modern financial theory on its head
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.
Average Rating: 
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If you've often wondered why most things economists or the popular press say about financial markets don't make sense, this book explains why, and in suprisingly well written terms. If only they taught math like this at school I might have taken some notice of it.
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Intereting....but not fleshed out and since the individual buyers of stock are the turblance when turbulance occurs....well can there be a corrective?
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Understanding that it is a book written with an unsophisticated audience (myself included) in mind, I would still like to have seen a little more in the way of math, i.e., examples or derivations, when appropriate, to go along with the cartoons. As is, both sides of the argument have to be taken on faith which is exactly what he is arguing against. Still a good read.
Rating: -
The topic is interesting and useful in the explanation of the unexpected. Did not seem to explain how fractals and "fat tails" could be used to predict or forecast. Essentially it comes across as an warning that the world is much more dangerous than most people assume.
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Nutshell review - This book is excellent and should be read by anyone interested or involved in the financial markets. Mandelbrot is one of the world's great mathematicians who also has the ability to write so that his insights and work become accessible to non-mathematicians as well. He explains how current models of financial markets are flawed and based on assumptions and math that do not reflect reality. With the discovery and application of fractal geometry Mandelbrot shows us how the markets ... Read More
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