Phrase by 'Benoit Mandelbrot'
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There's nothing really connecting the behavior of the Nile, metallurgy, and the behavior of prices except that I had the mathematical tools to explain them.
Author: Benoit Mandelbrot - French MathematicianNothing , Behavior , Explain , Tools
When I first began studying prices, it wasn't a topic that mathematicians were working on. Purely by accident, I saw a set of data on price changes presented in a lecture and realized they behaved similarly to the geometric models I was already studying.
Author: Benoit Mandelbrot - French MathematicianStudying , Data , Price , Changes
Most economists, when modeling market behavior, tend to sweep major fluctuations under the rug and assume they are anomalies. What I have found is that major rises and falls in prices are actually inevitable.
Author: Benoit Mandelbrot - French MathematicianBehavior , Inevitable , Found , Modeling
Father was bold, and Mother was cautious. They never shouted at each other but argued constantly about strategy, and they taught me very early that before taking big risks, one must carefully figure the odds.
Author: Benoit Mandelbrot - French MathematicianMe , Father , Mother , Risks
Both parents worshiped individual achievement, but because of the Depression and the war, they never achieved what they wanted and deserved. So their ambition and high expectations were transferred to me.
Author: Benoit Mandelbrot - French MathematicianMe , Depression , War , Achievement
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