The (Mis)Behavior of Markets: A Fractal View of Risk, Ruin and Return
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- čas přidán 4. 09. 2024
- From the inventor of fractal geometry, a revolutionary new theory that overturns our understanding of how markets work. 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.
Stuff about market begins at 38:21
Thanks
bless your heart
Gracias
Thanks mate, you probably don't realise how much time you have saved people :)
you can listen to 50 Cent all you want in HD quality, but such a great lecture from such a brilliant mind is on some forgotten channel and in the worst possible quality. For shame! But, still, thanks for posting it, love to listen to this man speak. Brilliant!
EDIT: Okay, not even 10 minutes in and I can't take the quality anymore. I just bought the book, not gonna bother with this. Why even post something like this without a transcript? Dumb.
I agree about the quality or lack thereof. But how was the book? Was it also just a rambling babblefest or was it edited to a more concise, to the point dissertation?
you're on the right path
Thanks i feel that way toi
Niccolo Machiavelli nassim taleb and daniel kahneman enjoyable as well
Oh dear the sound quality..
Sounds like a robot whispering along the speaking the whole time
Really?
Microsoft set up
we dont invent we discover we invent ways to describe what we discover why do we do this to repeat forever till we know and displace the fear with knowledge unless you believe we are just curious
Benoit is a brilliant mind and author yet in his financial markets lecturer devotes 10 mins to discussing how his theory of roughness supersedes modern portfolio theory and Gaussian volatility distributions. It's frustrating in that his call for new models to describe the reality of price movements and long term dependency are very much true. Yet, he's unable to stay on topic to describe how his theories provide a better alternative. Much like his book, the discussion ends with conjecture and hyperbole opposed to mathematically proven rigger in multifractal market analysis
I suffer same level of frustration w/ this topic also. They found plenty of ways to exploit Mandelbrot's paradigm shift in stuff like CGI, weather modelling, many medical applications.
Don't think people understand this guy bigger than Newton and Einstein combined.
Also....he really didn't use the Mandelbrot set to assert his claims, he used Brownian motion, but could not make the leap to forecast Black Swans.
I was expecting a Nautilus Shell type tight pattern to emerge from his work, just as his other iterations did closely match observed nature.
To be honest I suspect someone offered Mandelbrot many monies to work on HFT algos? This would require NDA, and easily explain why he never delved further into topic. At least not for us, but I'll bet Lloyd Blankfien, and his crew, were stacking so much CASH in front of him he couldn't say no?
@@wtwrva they probably did, and he probably said yes, we will never know, sheeps arent ever allowed to know anything. Good thing is that we still meet here :) at least we aren't that sheepy afterall
@@wtwrva I'm curious he patented his theory?
One of the rare videos that doesn't have a transcript :/
U? Say ywwW×ywYyYYYYYyyyyYYYy y Y YyWYYyY
can someone please fix the sound quality with AI?
you guys couldnt fix the audio???
shame on u ppl
So, should I invest in shitcoin?
No answer
cool.
this must have been filmed in 2004, for anyone who wonders
Sadly, I noted that Mendelbrot died in 2010.
sounds like its coming from a dsi spesificley the dsi
Phi, fibonacci sequences (theres correlation with 666 found in nature, the golden ratio), the all seeing eye and the pyramid is all correlated. the universe is expanding just like the fibonacci numbers are infinite, just like the fractals are infinite, this is the secret.
perhaps just part of A secret instead of THE secret. but these non-stop thought trains can be too much stress and worry sometimes if we let them (even and especially down assumptions and or jumping to too many conclusions.
1. The dark energy of the Universe is hidden in quantum membranes - shells located in a spherical quantum "rose bud", each at its own level of energy. 2. Quantum gravity - works like yes, the energy center in the quantum "rose bud" drifts relative to the beginning of the energy level, the quantum of membranes. 3. Einstein’s smooth space in a quantum universe, collected by fractals from a quantum “rosebuds” connected by quantum strings. 4. Quantum "rosebuds" are connected by flat quantum membranes forming quantum strings.
okay, but what does it mean
strings create the rings that form the space we see, density that matters
When was this recorded? 1937? It's one of the worst quality uploads I've ever tried to listen to.
!!
Noobs.
Boobs
bones jones. bones jones.