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Who else to present Fractal Geometry and Power Laws?,
Rezension bezieht sich auf: The Misbehavior of Markets: A Fractal View of Financial Turbulence: A Fractal View of Risk, Ruin, and Reward (Taschenbuch)
It is always pleasant to access ideas from their originator: B.Mandelbrot is the one who introduced Fractal Geometry to the world and Power Laws in Finance. In this book he presents in a very humble manner how these ideas occurred to him and demonstrates applicability of some of them. He also categorizes randomness in a very enlightening way (slow, mild, and wild).
Concepts are made easily accessible thanks to the illustrations. Just to give you a taste of it, volatility is modelled (hence not constant anymore!) via two simple illustrations depicting a multi-fractal construction.
B.Mandelbrot elegantly suggests ideas for further research. This book is a common reference and it really inspires respect and admiration toward such a rich ongoing scientific life.
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