The Misbehavior of Markets A Fractal View of Financial Turbulence

The (Mis)Behavior of Markets offers a revolutionary reevaluation of the tools and models of modern financial theory. From the gyrations of the Dow to the dollar-euro exchange rate, mathematical superstar and inventor of fractal geometry Benoit Mandelbrot shows how to understand the volatility of markets in far more accurate terms than the failed theories that have brought the financial system to the brink of disaster. Updated with a new preface on the financial crisis of 2008, Mandelbrot's insights are more valuable than ever.