Benoit Mandelbrot On Efficient Markets- FT.Com 9.30.09

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  • Mandelbrot is a genius, and he is correct that returns are not normally distributed. For retail investors, though, the relevant question is whether pricing anamolies can be profitably exploited. The evidence shows that professional active managers as a group underperform index funds after costs.

  • Dude this applicatib suits perfectly for a Nobel

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  • @liuton2005

    and your point would be? speak some wisdom of your observation.

  • @SilverShamrock71 you seem to have taken my comments out of context, my fault perhaps, i meant i'm not buying the random walk argument that he his using, i didn't mean to imply that he himself had developed the theory...

  • @SilverShamrock71 How about the fact that it isn't Mandelbrot's theory is the the French mathematicians theory. Pay attention Shamrock.

  • I don't buy EMH, but I'm not buying Mandelbrot's Random Walk either. Fascinating field of study though, I particularly like Bill Williams application of Chaos Theory to markets which can be practically applied to trading decisions...

  • He had the largest ears I've ever seen.

  • Why do we trust mathematicians to figure out economics? Mathematical models in economics always disregard "externalities," that is, the effects of market forces on human beings. They only extrapolate only the relationship between supply and demand.

  • I love him

  • fierce speculation? is that the name of the book??

  • I dream of this guy wearing a leather jacket, b/c he is a badass

  • Mister Benoit Mandelbrot; the one and only. Your contributions are perhaps the biggest ones in 20th century (against all scientific and business currents and trends). A real maverick, old-fashioned curious scholar and empiric scientist. We are all indebted by fruits of your work. R.I.P.

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