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.
本书是EmpricalFinance的老师推荐阅读书籍,但之前也有所耳闻,市面上评价也很高,所以特地买来阅读。 但很难想象豆瓣上没有人评论这本书,希望有更多的人能看到这本书,因为它能颠覆你对金融的所有想象和理解,尤其是学金融的人。 在作者眼中,过去我们所了解的传统和现代金...
评分本书是EmpricalFinance的老师推荐阅读书籍,但之前也有所耳闻,市面上评价也很高,所以特地买来阅读。 但很难想象豆瓣上没有人评论这本书,希望有更多的人能看到这本书,因为它能颠覆你对金融的所有想象和理解,尤其是学金融的人。 在作者眼中,过去我们所了解的传统和现代金...
评分金融行业并不存在明显的主流观点,每一种分析方式都被人所诟病。但众所周知的是,没有绝对盈利的方式。 1.市场是动荡的,在距离和平缓运动之间的急剧摇摆。市场存在长期依赖性,当前的事件影响到每一个其他任何地方和遥远未来的事件。 2.市场风险非常大——超出标准理论的想...
评分現在金融界使用很多數學、物理的學生,為甚麼?因為金融界使用許多模型,預測股市走勢,而那些模型假設股票交易和布朗運動、熱傳導等物理學現象相近。這些模型包括Black-Scholes、Capital Asset Pricing Model (CAPM) 等。 但是分形學的創立人、數學家Benoit Mandelbrot毫不猶...
一个分形学者眼中的金融市场。
评分更好的理解这个奇妙的世界和奇妙的市场,虽然对于赚钱并无太大帮助。
评分跨学科
评分市场行为的分形观点,只是感觉还缺点什么。。。虽然图形上分形确实更容易解释,但生成过程上感觉解释并不理想,或许马尔可夫过程或者贝叶斯可能更适合描述此类过程(尽管作者不太赞同类似观点),又或者是因为对分形的理解还是太过表面了。。。
评分真心看不惯那些自以为是的嘴脸,说着boring,浪费时间的读者,站在巨人的肩上嘲笑巨人合适吗?
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