Benoit Mandelbrot father of fractal geometry revolutionized our understanding of the models of modern financial theory. This new edition
Includes:: material on the current market crisis calling for an end to the tunnel vision of our bankers whose over-confidence in their understanding of markets ended in catastrophe. This international bestseller which foreshadowed a market crash explains why it could happen again if we dont act now. Fractal geometry is the mathematics of roughness: how to reduce the outline of a jagged leaf or static in a computer connection to a few simple mathematical properties. With his fractal tools Mandelbrot has got to the bottom of how financial markets really work. He finds they have a shifting sense of time & wild behavior that makes them volatile dangerous
- & beautiful. In his models the complex gyrations of the FTSE 100 & exchange rates can be reduced to straightforward formulae that yield a much more accurate description of the risks involved.