THE (MIS)BEHAVIOUR OF MARKETS: A FRACTAL VIEW OF RISK RUIN AND REWARD

This international bestseller which foreshadowed a market crash explains why it could happen again if we don't 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 and wild behaviour that makes them volatile dangerous - and beautiful. In his models the complex gyrations of the FTSE 100 and exchange rates can be reduced to straightforward formulae that yield a much more accurate description of the risks involved.