Most were beginning to feel they had learned enough to last for the rest of their lives. They remained mathematicians, but largely went their own way.
From Benoit Mandelbrot
Nobody will deny that there is at least some roughness everywhere.
Now that I near 80, I realize with wistful pleasure that on many occasions I was 10, 20, 40, even 50 years ahead of my time.
Smooth shapes are very rare in the wild but extremely important in the ivory tower and the factory.
The techniques I developed for studying turbulence, like weather, also apply to the stock market.
There is a joke that your hammer will always find nails to hit. I find that perfectly acceptable.
Think of color, pitch, loudness, heaviness, and hotness. Each is the topic of a branch of physics.
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.
2 perspectives
1 perspectives