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"In an ever-more complex world, Mandelbrot argues, scientists need both tools: image as well as number, the geometric view as well as the analytic. The two should work together. Visual geometry is like an experienced doctor's savvy in reading a patient's complexion, charts, and X-rays. Precise analysis is like the medical test results-the raw numbers of blood pressure and chemistry. "A good doctor looks at both, the pictures and the numbers. Science needs to work that way too," he says."
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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"My current best model of how a market works is fractional Brownian motion of multifractal time. It has been called the Multifractal Model of Asset Returns. The basic ideas are similar to the cartoon versions above-though far more intricate, mathematically. The cartoon of Brownian motion gets replaced by an equation that a computer can calculate. The trading-time process is expressed by another mathematical function, called f(\propto), that can be tuned to fit a wide range of market behavior. My model redistributes time. It compresses it in some places, stretches it out in others. The result appears very wild, very random. The two functions, of time and Brownian motion, work together in what mathematicians call a compound manner: Price is a function of trading time, which in turn is a function of clock time. Again, the two steps in the model combine to produce a "baby" far different from either parent."