It is beyond belief that we know so little about how people get rich or poor, about how it is they come to dwell in comfort and health or die in penu… - Benoit Mandelbrot

I always felt that science as the preserve of people from Oxbridge or Ivy League universities — and not for the common mortal — was a very bad idea.

"In the 1960's, some old-timers on Wall Street-the men who remembered the trauma of the 1929 Crash and the Great Depression-gave me a warning: "When we fade from this business, something will be lost. That is the memory of 1929." Because of that personal recollection, they said, they acted with more caution, than they otherwise might. Collectively, their generation provided an in-built brake on the wildest form of speculation, an insurance policy against financial excess and consequent catastrophe. Their memories provided a practical form of long-term dependence in the financial markets. Is it any wonder that in 1987 when most of those men were gone and their wisdom forgotten, the market encountered its first crash in nearly sixty years? Or that, two decades later, we would see the biggest bull market, and the worst bear market, in generations? Yet standard financial theory holds that, in modeling markets, all that matters is today's news and the expectations of tomorrow's news."

Most of the world is of great roughness and infinite complexity. However, the infinite sea of complexity includes two islands of simplicity: one of Euclidean simplicity and a second of relative simplicity in which roughness is present but is the same at all scales.