Benoit Mandelbrot quote

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.
Benoit Mandelbrot

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The Misbehavior of Markets: A Fractal View of Financial Turbulence
The Misbehavior of Markets: A Fractal View of Financial Turbulence
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