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Just the opposite appears to happen in the medium term, three to eight years. A stock that was rising over one multi-year stretch has slightly greate… - Benoit Mandelbrot
" "Just the opposite appears to happen in the medium term, three to eight years. A stock that was rising over one multi-year stretch has slightly greater odds of falling in the next. A 1988 study by Fama and another economist, Kenneth R. French, documented this. They looked back over the price records of hundreds of stocks and grouped them into portfolios based on their size. They found that about 10 percent of a stock's performance in one eight-year period-that is, there was a small but measurable tendency for a stock doing well in one decade to do poorly in the next. The effect was weaker, but still statistically significant, at shorter time-scales of three to five years. Others have corroborated such findings.
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About Benoit Mandelbrot
Benoît B. Mandelbrot (20 November 1924 – 14 October 2010) was a Poland-born French-American mathematician known as the "father of fractal geometry".
Biography information from Wikiquote
Also Known As
Alternative Names:
Mandelbrot, B. B.
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Benoît Mandelbrot
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Benoit B. Mandelbrot
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Benoît B. Mandelbrot
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Additional quotes by Benoit Mandelbrot
Science would be ruined if (like sports) it were to put competition above everything else, and if it were to clarify the rules of competition by withdrawing entirely into narrowly defined specialties. The rare scholars who are nomads by choice are essential to the intellectual welfare of the subtle disciplines
There is nothing more to this than a simple iterative formula. It is so simple that most children can program their home computers to produce the Mandelbrot set. … Its astounding complication was completely out of proportion with what I was expecting. Here is the curious thing: the first night I saw the set, it was just wild. The second night, I became used to it. After a few nights, I became familiar with it. It was as if somehow I had seen it before. Of course I hadn't. No one had seen it. No one had described it. The fact that a certain aspect of its mathematical nature remains mysterious, despite hundreds of brilliant people working on it, is the icing on the cake to me.
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