The (Mis) Behavior of Markets: A Fractal View of Risk, Ruin And Reward

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. more

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ProductReviews73/100 (63 Reviews)

Recent Reviews

3/5: From: Amazon; Posted: Sep-22-2009; Interesting but short on practical applications of theory.; 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...; read full review | report as inappropriate

2/5: From: Amazon; Posted: Aug-22-2009; Non-Practical Advice by an Arrogant Author; In several places, I saw this book touted as revolutionizing the investment world. I decided to get it and check it out. Having read over 200 books on investing, I was a little doubtful Mandelbrot had found the secret of investment...; read full review | report as inappropriate

5/5: From: Amazon; Posted: Aug-22-2009; Still relevant five years later; I had occasion to reread this book and wanted to offer my thoughts about how the ideas have held up. I'm a huge Mandelbrot fan, I consider him one of the great living geniuses who has changed thinking in many fields. Plus he's enormously...; read full review | report as inappropriate

5/5: From: Amazon; Posted: Aug-01-2009; Insightful!!!!; I learned about Fractals, not in high school as i should have done but in my graduate education. Benoit's work and application in finance is innovative. A must read for anyone who is interested in abstractness.; read full review | report as inappropriate

Selected Reviews

5/5: From: Amazon; Posted: Aug-22-2009; Still relevant five years later; I had occasion to reread this book and wanted to offer my thoughts about how the ideas have held up. I'm a huge Mandelbrot fan, I consider him one of the great living geniuses who has changed thinking in many fields. Plus he's enormously...; read full review | report as inappropriate

3/5: From: Amazon; Posted: Sep-22-2009; Interesting but short on practical applications of theory.; 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...; read full review | report as inappropriate

2/5: From: Amazon; Posted: Aug-22-2009; Non-Practical Advice by an Arrogant Author; In several places, I saw this book touted as revolutionizing the investment world. I decided to get it and check it out. Having read over 200 books on investing, I was a little doubtful Mandelbrot had found the secret of investment...; read full review | report as inappropriate