Some economists, when thinking about long memory, are concerned that it undercuts the Efficient Market Hypothesis that prices fully reflect all relev… - Benoit Mandelbrot
" "Some economists, when thinking about long memory, are concerned that it undercuts the Efficient Market Hypothesis that prices fully reflect all relevant information; that the random walk is the best metaphor to describe such markets; and that you cannot beat such an unpredictable market. Well, the Efficient Market Hypothesis is no more than that, a hypothesis. Many a grand theory has died under the onslaught of real data.
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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".
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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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Georg Cantor claimed the essence of mathematics lies in its freedom. But mathematicians do not pick problems from thin air for the pleasure of solving them. To the contrary, a mark of greatness resides in the ability to identify the most interesting problems in the framework of what is already known.
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