11 von 12 Kunden fanden die folgende Rezension hilfreich
Too much pages for too little content,
Rezension bezieht sich auf: The Misbehavior of Markets: A Fractal View of Risk, Ruin, and Reward (Gebundene Ausgabe)
The three messages of this book: 1. Market models assuming Gauss distribution of price changes are wrong; 2. Using fractals we can generate data vectors that looks like those we get from real markets; 3. These were all mine (Mandelbrot's) ideas.
Mandelbrot spends too much pages to emphasize these messages. In contrast, the presented results are moderate. Mandelbrot himself concludes that more research is neccessary. However, fractal models can't be solved analytically. Of course, it is nice to have an additional tool in the toolkit, but in fact, fractal simulation of the markets does not provide anything that is lacking in GARCH models. Mandelbrot only briefly mentions these alternatives to his model.
The overall style of writing allows reading the book fluently. The book contains a bit of history of the market theories and many anecdotes of Mandelbrot. The book might be interesting for newcommers to this subject and readers interested in a pleasant bedtime lecture, however readers with a mathematical background with respect to markets will be disappointed.