When the weather changes and hurricanes hit, nobody believes that the laws of physics have changed. Similarly, I don't believe that when the stock market goes into terrible gyrations its rules have changed. It's the same stock market with the same mechanisms and the same people.
Benoit MandelbrotAlthough computer memory is no longer expensive, there's always a finite size buffer somewhere. When a big piece of news arrives, everybody sends a message to everybody else, and the buffer fills
Benoit MandelbrotRegular geometry, the geometry of Euclid, is concerned with shapes which are smooth, except perhaps for corners and lines, special lines which are singularities, but some shapes in nature are so complicated that they are equally complicated at the big scale and come closer and closer and they don't become any less complicated.
Benoit MandelbrotAn extraordinary amount of arrogance is present in any claim of having been the first in inventing something.
Benoit MandelbrotThe extraordinary fact is that the first idea I had which motivated me, that worked, is conjecture, a mathematical idea which may or may not be true. And that idea is still unproven. It is the foundation, what started me and what everybody failed to **** prove has so far defeated the greatest efforts by experts to be proven.
Benoit Mandelbrot