The concept of a random walk is simple but rich for its man… - Didier Sornette

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The concept of a random walk is simple but rich for its many applications, not only in finance but also in physics and the description of natural phenomena. It is arguably one of the most founding concepts in modern physics as well as in finance, as it underlies the theories of elementary particles, which are the building blocks of our universe, as well as those describing the complex organization of matter around us.

Didier Sornette

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About Didier Sornette

Didier Sornette (born 25 June 1957) is Professor on the Chair of Entrepreneurial Risks at Swiss Federal Institute of Technology Zurich (ETH Zurich). He is also a professor of the Swiss Finance Institute, a professor associated with both the department of Physics and the department of Earth Sciences at ETH Zurich.

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Additional quotes by Didier Sornette

The price of a stock is strongly influenced by the behavior of the traders in a nontrivial way.

The acceleration of the number of traders buying into the market in the inflating bubble captures the oft-quoted observation that bubbles are times when the "greater fool theory" applies.

A bubble that goes up is just one that could have crashed but did not.

The concept of a random walk is simple but rich for its many applications, not only in finance but also in physics and the description of natural phe… - Didier Sornette

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