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Richard Hudson
Paperback | Pages: 446 pages Rating: 4.05 | 3940 Users | 199 Reviews
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| Title | : | Fraktale und Finanzen |
| Author | : | Richard Hudson |
| Book Format | : | Paperback |
| Book Edition | : | First Edition |
| Pages | : | Pages: 446 pages |
| Published | : | 2005 by PIPER (first published September 18th 1997) |
| Categories | : | Economics. Finance. Nonfiction. Business. Science. Mathematics |
Commentary To Books Fraktale und Finanzen
Benoit B. Mandelbrot ist der Erfinder der fraktalen Geometrie; er hat sich ihrer bedient, um damit dem Rätsel der Unberechenbarkeit der Finanzmärkte auf den Grund zu gehen – erfolgreich, wie ihm die Fachwelt bestätigt. Mit dem Wirtschaftsjournalisten Richard L. Hudson hat er aufgeschrieben, warum man Geld in so beängstigendem Tempo gewinnen und ebenso schnell wieder verlieren kann. – Ausgezeichnet als »Bestes Wirtschaftsbuch des Jahres« von »Financial Times Deutschland«.Declare Books During Fraktale und Finanzen
| Original Title: | The Misbehavior of Markets |
| ISBN: | 3492248616 (ISBN13: 9783492248617) |
| Edition Language: | German |
Rating Based On Books Fraktale und Finanzen
Ratings: 4.05 From 3940 Users | 199 ReviewsWeigh Up Based On Books Fraktale und Finanzen
Part biographical popular science book consisting of Mandlebrots musing on his works and in particular how they relate to market behaviour. Although he is clearly opinionated and sure of his own correctness and insight and convinced of his contraryness, he is not as hectoring or smug as Taleb and also more prepared to admit that as of now he cannot turn his work to a definitive investment method beyond simple (but profound) insights into market behaviour. He stresses simplicity of models andNot as valuable as might be expectedWhat celebrated mathematician (inventor of fractal geometry and the famous Mandelbrot Sets) Benoit Mandelbrot discovered when analyzing market behavior is that the markets tend to go to extremes. Instead of deviating from an average in a well-mannered linear way (as one might see in a Gaussian bell-shaped distribution) prices tend to rocket up and down according to a power law. In other words the variance in price movements was greater than economists
I wish I could give this book four stars. But Mandelbrot's slightly tiring writing style prevents me from doing so. The main author obviously thinks remarkably highly of his own work (which is not a bad thing in itself--he is, after all, a revolutionary mathematician--but does he have to express it ad infinitum?), and deems himself an excellent judge of character of historical figures who he has never met. (Disclaimer: It's probably worth noting I have a very low tolerance for
When I first encountered this book I did a slight doubletake, "wait, THE Benoit Mandelbrot?""Why is he writing about financial markets?" I wondered.I knew of Mandelbrot in mathematics, computer science, and natural sciences -- I had no idea how deep his obsession with economics was till I read this book.In a way, it's almost depressing, his biggest contributions were to fields he didn't seem to care about as much as economics (a field that in turn didn't seem to care about his work).Mandelbrot's
Mandelbrot is one of the fathers of the theory of chaos. It is attractive intellectually but also by its possible applications. In medicine the lung for example is a fractal object. After the crisis of 2008, I wondered why one could not envisage occurred to them.I discovered that the last book of Mandelbrot was precisely devoted to this problem. Mandelbrot proposes to modify the econometric algorythmes used by the banks. Those would be responsible amplify the disorders.It is a difficult work. I
Excellent book by Mandelbrot himself on markets and why they aren't brownian (that is, move up and down in a continuous fashion) and how fractals can be used to represent markets. He goes into volatility and how a Gaussian distribution cannot properly describe markets. And yet for the most part the big models people use (Sharpe ratio, Black-Scholes volatility calculation) are all based on Gaussian distributions, greatly underestimating the risk of ruin.Great companion to Nassim Taleb's books.
In these turbulent economy we seem to be victims of the financial markets. Benoit Mandelbrot, famous mathematician and inventor of fractal geometry, joined forces with Richard Hudson, to write a book about financial theory. The (Mis)behavior of Markets falls in the popular science genre. It is low on formulas, instead you can find lots of historical anecdotes and opinions.1. Risk, Ruin and RewardWe start with a brief history of finance. The author asks us to play a game. Out of 4 charts we need
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