Inscribed By Benoit Mandelbrot
The (Mis)Behavior of Markets: A Fractal View of Risk, Ruin, and Reward.
Mandelbrot, Benoit & Richard L. Hudson.$950.00
Item Number: 19061
New York: Basic Books, 2004.
First edition. Octavo, original half cloth. Inscribed by Benoit Mandelbrot on the title page, “For Steven, with the author’s compliments Benoit Mandelbrot.” Remainder mark to the bottom edge, near fine in a fine dust jacket.
"The deepest and most realistic finance book ever published" (Nassim Nicholas Taleb). 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.