The Misbehavior of Markets by Benoit Mandelbrot
A Fractal View of Financial Turbulence

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Synopsis

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.
 

About Benoit Mandelbrot

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A graduate of the École Polytechnique, Benoit Mandelbrot obtained his doctorate from the University of Paris and spent more than thirty-five years at IBM as a research scientist. Best known as the father of fractal geometry, he transformed our understanding of information theory, economics, fluid turbulence, nonlinear dynamics, and geophysics. He died on October 14, 2010.
 
Published March 22, 2007 by Basic Books. 354 pages
Genres: Business & Economics, Science & Math. Non-fiction

Unrated Critic Reviews for The Misbehavior of Markets

Seeking Alpha

I met Benoit Mandelbrot at a conference at Columbia University back in early 2001.

Jun 22 2011 | Read Full Review of The Misbehavior of Markets: A...

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