Time does not run in a straight line, like the markings on a wooden ruler. It stretches and shrinks, as if the ruler were made of balloon rubber. Thi… - Benoit Mandelbrot

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Time does not run in a straight line, like the markings on a wooden ruler. It stretches and shrinks, as if the ruler were made of balloon rubber. This is true in daily life: We perk up during high drama, nod off when bored. Markets do the same.

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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

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Alternative Names: Mandelbrot, B. B.‏ Benoît Mandelbrot Benoit B. Mandelbrot Benoît B. Mandelbrot
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Additional quotes by Benoit Mandelbrot

When you seek some unspecified and hidden property, you don't want extraneous complexity to interfere. In order to achieve homogeneity, I decided to make the motion end where it had started. The resulting motion biting its own tail created a distinctive new shape I call Brownian cluster. … Today, after the fact, the boundary of Brownian motion might be billed as a "natural" concept. But yesterday this concept had not occurred to anyone. And even if it had been reached by pure thought, how could anyone have proceeded to the dimension 4/3? To bring this topic to life it was necessary for the Antaeus of Mathematics to be compelled to touch his Mother Earth, if only for one fleeting moment.

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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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