Misbehavior of MarketsMathematical 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 dollarEuro exchange rateMandelbrot 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. 
What people are saying  Write a review
User ratings
5 stars 
 
4 stars 
 
3 stars 
 
2 stars 
 
1 star 

Review: The (Mis)Behavior of Markets
User Review  Maury  GoodreadsMandelbrot's criticism of modern financial orthodoxy, developed over many years, is devastating. After reading his lucid explanations, one wonders how financial markets can persist in collective ... Read full review
Review: The (Mis)Behavior of Markets
User Review  Katherine Collins  GoodreadsI only met Prof. Mandelbrot once, at a Santa Fe Institute/CSFB conference, and I remember being astounded that he could explain decades of groundbreaking and highly technical work in just three words ... Read full review
Related books
Technical Analysis of the Financial Markets: A Comprehensive Guide to ... John J. Murphy Limited preview  1999 
Contents
Risk Ruin and Reward  3 
By the the Toss of a Coin or the Flight of an Arrow?  25 
Bachelier and His Legacy  43 
The House of Modern Finance  59 
The Case Against the Modern Theory of Finance  79 
Images of the Abnormal  88 
The New Way  109 
Turbulent Markets A Preview  111 
Long Memory from the Nile to the Marketplace  173 
Noah Joseph and Market Bubbles  197 
The Multifractal Nature of Trading Time  207 
The Way Ahead  223 
Ten Heresies of Finance  225 
In the Lab  253 
Notes  277 
303  
Other editions  View all
Common terms and phrases
References from web pages
Mandelbrot's "The (Mis)Behavior of Markets"  Charles Carreon's ...
Navigation. Video Rage · Political Rage · Media Rage · Legal Rage · Planetary Rage · Economic Rage · Musical Rage · Literary Rage · Fictional Rage...
www.ragingblog.com/ Political_Rage/ Mandelbrots_quotThe_MisBehavior_of_Marketsquot
researchchannel  The (Mis)Behavior of Markets: A Fractal View of ...
The (Mis)Behavior of Markets: A Fractal View of Risk, Ruin and Return. Produced by: Microsoft Research August 23, 2004. Description: ...
www.researchchannel.org/ prog/ displayseries.aspx?fID=1894
The Ashland Chronicles: The (mis)Behavior of Markets
I started reading The (mis)Behavior of Markets by Benoit Mandelbrot. I will do a chapter by chapter recap of things I find interesting. Chapter 1: ...
jeffgendron.blogspot.com/ 2008/ 03/ misbehaviorofmarkets.html
Julian's Jabberings: The (mis)Behavior of Markets
The (mis)Behavior of Markets: A Fractal View of Risk, Ruin, and Reward presents a nonconventional way of understanding the stock market and other financial ...
www.mindspring.com/ ~teleri/ julian/ 2005/ 02/ misbehaviorofmarkets.html
Harnessing the (mis)Behavior of Markets
Harnessing the (mis)Behavior of Markets: Brownian Motion and Stock Prices by Rick Martinelli, ma Haiku Laboratories Technical Memorandum 060301 ...
www.haikulabs.com/ HMB_15.htm
The (Mis)behavior of Markets — Summary  getabstract
Download the fivepage summary of The (Mis)behavior of Markets by Benoit B. Mandelbrot and Richard L. Hudson (Basic Books, 2004). A Fractal View of Risk, ...
www.getabstract.com/ ShowAbstract.do;jsessionid=1FHXrFzYiifPr1gY?dataId=4023
Ars Mathematica » Blog Archive » The (Mis)Behavior of Markets
June 8th, 2005 by Walt. Michael of comment board fame had lent me Benoit Mandelbrot and Richard Hudson’s The (Mis)Behavior of Markets a while ago, ...
www.arsmathematica.net/ archives/ 2005/ 06/ 08/ themisbehaviorofmarkets/
More NonStochastic Reading « BRAIN DRAIN
The second book thrown my way was Benoit Mandelbrot’s The (Mis)Behavior of Markets: A Fractal View of Risk, Return and Reward. Coauthored with journalist ...
brianbelen.wordpress.com/ 2007/ 10/ 10/ morenonstochasticreading/
Yale Scientific Magazine
The (mis)Behavior of Markets: A Fractal View of Risk, Ruin, and Reward By Benoit Mandelbrot and Richard L. Hudson Basic Books, 2004, 328 pp. ...
research.yale.edu/ ysm/ article.jsp?articleID=436&
Elegant Report
totalportfoliomanagem ent , llc. independence , diversification , discipline. fi NA ncialmarketscommen TA RY. mark F. toledo , cfa. FEBRUARY 3, 2006 ...
www.totalpm.net/ uploads/ Mis__Behavior_020306.pdf