Here& #39;s a good place to start, scroll down to the video interview between John Authers, then at the FT, and Benoit Mandelbrot, the mathematician (father of Fractals) who discovered the flaw in the efficient markets hypothesis 60 years ago. https://paulclaireaux.com/adviser-understand-risk/">https://paulclaireaux.com/adviser-u...
A great deal of the & #39;theory& #39; of investment risk, rests on a & #39;Theory of speculation& #39; written around 1900 by a French Mathematician, Bachelier.
The trouble is, he didn& #39;t have ANY evidence for his theory!
The only way to make it work is to hide troublesome reality under the carpet!
The trouble is, he didn& #39;t have ANY evidence for his theory!
The only way to make it work is to hide troublesome reality under the carpet!
Nottingham business school even wrote an amusing paper, (might we say poking fun at?) the CIO of Goldman Sachs about this naive theory of markets after 2009.
More here https://paulclaireaux.com/the-bankers-standard-deviations/">https://paulclaireaux.com/the-banke...
More here https://paulclaireaux.com/the-bankers-standard-deviations/">https://paulclaireaux.com/the-banke...