2 von 2 Kunden fanden die folgende Rezension hilfreich
very original and amusing, but a little diffuse,
Verifizierter Kauf(Was ist das?)
Rezension bezieht sich auf: The (Mis)behavior of Markets: A Fractal View of Risk, Ruin and Reward (Gebundene Ausgabe)
Mandelbrot, a mathematician converted into an economics professor, describes some shortcomings of the classical understanding of financal markets. His anaylsis of a century's stock market data shows that especially two prevailing assumptions
- gauss distribution of price changes
- non-correlation of events
are not at all true. Taking some similies from the Bible he calls them
- Noah effect (existence of extremely large outliers; e.g.rainfall)
- Joseph effect (7 good years followed by 7 bad ones)
The book contains some explanations about fractals and a lot of history. Most chapters are humorously worded and real fun to read.
However, while conceptually very original, at some point the detailed description of his new model gets a little diffuse. Maybe this is part of the fractal legacy: interesting but by nature chaotic.
Rezensentin / Rezensent