Benoit Mandelbrot

Mathematician

1924-11-20 – 2010-10-14

Benoît Mandelbrot was a French-American mathematician known as the pioneer of fractal geometry. His work reshaped fields including mathematics, physics, finance, and computer graphics.

Quotes by Benoit Mandelbrot

A cloud is made of billows upon billows upon billows that look like clouds. As you come closer to a cloud you don't get something smooth, but irregularities at a smaller scale.
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When the weather changes, nobody believes the laws of physics have changed. Similarly, I don't believe that when the stock market goes into terrible gyrations its rules have changed.
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Most economists, when modeling market behavior, tend to sweep major fluctuations under the rug and assume they are anomalies. What I have found is that major rises and falls in prices are actually inevitable.
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Until a few years ago, the topics in my Ph.D. were unfashionable, but they are very popular today.
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The techniques I developed for studying turbulence, like weather, also apply to the stock market.
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