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15 of 15 people found the following review helpful
4.0 out of 5 stars ...with tangerine trees and marmalade skies...
Orthodox economics is very formal using complex models to predict future behaviour. Most economists, like meteorologists, are not held accountable for their predictions.

Within the very wide field of economics there are many conflicting views about the nature of economics and there is much in the way of interesting work going on out there and I would cite the...
Published on 8 July 2006 by Junglies

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1 of 1 people found the following review helpful
3.0 out of 5 stars Large ego, chip on his shoulder, no application
I was left feeling that the great man, as well as going on a huge ego trip, was rather bitter about, as he saw it, not getting the recognition for work that he did in his life which did not have any particular real world use, particularly when those that did similar things later, or at the same time, did get recognition. He then lambastes, with justification, traditional...
Published on 17 Dec. 2011 by Dicko


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3.0 out of 5 stars Fractal Risks, 14 Oct. 2011
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This review is from: The (Mis)Behaviour of Markets: A Fractal View of Risk, Ruin and Reward (Paperback)
Mandelbrot hammers fractal chaos geometry, which he invented, into modern finance theory and finds the latter wanting. His insight is that modern finance theory, in an attempt to appear scientific and so gain credibility, overlooks the jiggles and wiggles in real-life phenomenon especially tail risks. Result: colossal losses and economic disequilibria. Mandelbrot goes to great lengths (repeatedly) to demonstrate how computer generated fractal patterns imitate observed asset returns far better than charts generated from normally distributed algorithms. But he fails to take the logical next step and proffer practical techniques based on fractal geometry to manage risk more effectively.
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5.0 out of 5 stars Great Read inspiring book, 12 Sept. 2014
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J. Orji (London, UK) - See all my reviews
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This review is from: The (Mis)Behaviour of Markets: A Fractal View of Risk, Ruin and Reward (Paperback)
The first time i saw a mandelbrot fractal was at my university computing-maths course - it was a beautiful fern that i thought was a photograph but knew it was computer generated .. this began my fascination with fractals. This book takes you on a journey of thought and mystery. It makes things you thought about make sense. I am justabout to finish it and - then start again to apply the techniques being taught in this book .... think of it as crumbs of destiny, its that deep.
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4.0 out of 5 stars Recommendation, 26 Nov. 2013
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This review is from: The (Mis)Behaviour of Markets: A Fractal View of Risk, Ruin and Reward (Paperback)
This book is a must. Economists, particularly of the Kenysian mode, simply use a false math. Mandelbrot and his math of "chaos" offers a different views. Given the European and American difficulties (2013), the reader has the chance of seeing things differently. It has aided me to understand why even Nobel Prize economists (e.g., Paul Krugman) do not know what they are doing because they do not know the correct manner of applying math to economic rationality.
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5.0 out of 5 stars (Mis)behavior is the constant of markets, 5 April 2010
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Nabil Kobeissi (London, United Kingdom) - See all my reviews
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This review is from: The (Mis)Behaviour of Markets: A Fractal View of Risk, Ruin and Reward (Paperback)
Mandelbrot outlines in plain English the loopholes in the foundation of the efficient market hypothesis, he proposed a theoretical alternative with no or limited application. It will require time, scientists and resources to put the multi fractal theory in application. It is very interesting to read and push you to think differently.
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5.0 out of 5 stars Excellent approach of the falure to predict financial risks, 21 Oct. 2009
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This is an excellent approach to explain the failure in the tools that we use in the real financial world to attempt to estimate risk in the market. It has an easy going reading. If you are a Financial or Economic professional or student you will really enjoy this book. My boss recommended it to me.
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4.0 out of 5 stars Very interesting, 12 Mar. 2014
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If you're inclined to find discussion of how economics and markets work interesting then this is definitely worth a read. If you wonder why the world of finance can't consistently avoid crashes, Mandelbrot has some very plausible theories. It's not as dry as it sounds, either - he's a fairly good writer and uses analogies and examples from the "real" world to illustrate the theory as well as financial examples.
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5.0 out of 5 stars Complex theory made into an accessible and enjoyable read, 30 Jan. 2014
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Richard Hudson has worked with Benoit Mandelbrot to produce an enjoyable and comprehensible synthesis of the latter's ideas. Highly recommended!
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5.0 out of 5 stars A great introduction to fractals, 15 Nov. 2013
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Jason Broomer (Surrey, UK) - See all my reviews
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Mandelbrot places the reader in front row seats as he takes them on a journey starting with the early development of the theories behind today's capital markets models. Mandelbrot enjoyed first hand association with a number of these early pioneers and this gives the narrative a little colour. He goes on to lay the groundwork behind his fractal theory whilst elegantly peppering holes in more conventional theories such as CAPM. Although Mandelbrot is a mathematician, the casual reader will be delighted to find a complete absence of any formulae in the book. This, plus the polished prose, means that the book is a delightful and easy read for anyone looking for an introduction to fractals and their application within financial markets.
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4.0 out of 5 stars Interesting, 10 Oct. 2013
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Some interesting ideas but shame he doesn't offer any solutions. Needs a follow up to try and sort out people who think they have got markets sussed.
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4.0 out of 5 stars Worth a read, 27 July 2013
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Any finance professional will find much food for thought in this book. Mandelbrot re-frames the topic of risk and points to fundamental flaws in the current standard paradigm. There are a few annoying problems with the book, however, that keep me from giving it five stars: It circles and meanders a bit too much; Mandelbrot keeps telling us how great he is - we've already bought the book, no need to keep selling it; a few concrete applications of how to use his models in a prescriptive sense would have made them more relevant.
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The (Mis)Behaviour of Markets: A Fractal View of Risk, Ruin and Reward
The (Mis)Behaviour of Markets: A Fractal View of Risk, Ruin and Reward by Richard L. Hudson (Paperback - 6 Nov. 2008)
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