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The Misbehavior of Markets

A Fractal View of Financial Turbulence

The Misbehavior of Markets Open the full-size image

Contributors

By Benoit Mandelbrot

By Richard L. Hudson

Read by Jason Olazabal

Formats and Prices

Format

Format:

  1. Audiobook Download (Unabridged)
  2. ebook $13.99 $17.99 CAD
  3. Trade Paperback $19.99 $24.99 CAD

This item is a preorder. Your payment method will be charged immediately, and the product is expected to ship on or around March 26, 2019. This date is subject to change due to shipping delays beyond our control.

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A groundbreaking mathematician presents a new model for understanding financial markets.

Benoit B. Mandelbrot, one of the century's most influential mathematicians, is world-famous for making mathematical sense of a fact everybody knows but that geometers from Euclid on down had never assimilated: Clouds are not round, mountains are not cones, coastlines are not smooth. To these classic lines we can now add another example: Markets are not the safe bet your broker may claim.

In his first book for a general audience, Mandelbrot, with co-author Richard L. Hudson, shows how the dominant way of thinking about the behavior of markets-a set of mathematical assumptions a century old and still learned by every MBA and financier in the world-simply does not work. As he did for the physical world in his classic The Fractal Geometry of Nature , Mandelbrot here uses fractal geometry to propose a new, more accurate way of describing market behavior. The complex gyrations of IBM's stock price and the dollar-euro exchange rate can now be reduced to straightforward formulae that yield a far better model of how risky they are.

With his fractal tools, Mandelbrot has gotten to the bottom of how financial markets really work, and in doing so, he describes the volatile, dangerous (and strangely beautiful) properties that financial experts have never before accounted for. The result is no less than the foundation for a new science of finance.

Genre:

On Sale
Mar 26, 2019
Publisher
Hachette Audio
ISBN-13
9781549151309

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Benoit Mandelbrot

About the Author

Benoit B. Mandelbrot is Sterling Professor of Mathematical Sciences at Yale University and a Fellow Emeritus at IBM’s Thomas J. Watson Laboratory. He is the inventor of fractal geometry, whose most famous example, the Mandelbrot Set, has been replicated on millions of posters, T-shirts, and record albums. He was a leading figure in James Gleick’s Chaos and has received the Wolf Prize in Physics, the Japan Prize in science and technology, and awards from the U.S. National Academy of Sciences, the IEEE, and numerous universities in the U.S. and abroad. His books include Fractals: Form, Chance and Dimension, which was later expanded into the classic The Fractal Geometry of Nature, which has sold more than 200,000 copies. This is his first book for lay readers on finance, a subject he has studied since the 1960s. He lives in Scarsdale, New York.

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Richard L. Hudson

About the Author

Richard L. Hudson was the managing editor of the Wall Street Journal’sEuropean edition for six years, and a Journal reporter and editor for twenty-five years. He is a 1978 graduate of Harvard University and a 1991 Knight Fellow of MIT. He lives in Brussels, Belgium.

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