{"product_id":"the-misbehavior-of-markets-9780465043552","title":"The (Mis)behavior of Markets","description":"\u003cp\u003eBenoit B. Mandelbrot  one of the centurys 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 IBMs 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.\u003c\/p\u003e","brand":"My Store","offers":[{"title":"Default Title","offer_id":45279555878965,"sku":"ByrdShop_0465043550","price":45.66,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0627\/8139\/0901\/files\/9780465043552.jpg?v=1780602150","url":"https:\/\/atxbooks.com\/products\/the-misbehavior-of-markets-9780465043552","provider":"ATX Books","version":"1.0","type":"link"}