Mandelbrot: The Misbehaviour of Markets

Benoit Mandelbrot and Richard Hudson's market-risk argument rebuilt as a visual course: why bell-curve finance misses fat tails, roughness, clustering, long memory, and multifractal trading time.

1. 01Risk, Ruin, and RewardSource: Benoit Mandelbrot and Richard L. Hudson, *The (Mis)Behaviour of Markets*, Chapter 1, “Risk, Ruin, and Reward”; original teaching treatment with further sources below.Published 28 Jul 202626 sections
2. 02By the Toss of a Coin or the Flight of an Arrow?Source: Benoit Mandelbrot and Richard L. Hudson, *The (Mis)Behaviour of Markets*, Chapter 2, “By the Toss of a Coin or the Flight of an Arrow?”; original teaching treatment with further sources below.Published 28 Jul 202625 sections
3. 03Bachelier and His LegacySource: Benoit Mandelbrot and Richard L. Hudson, *The (Mis)Behaviour of Markets*, Chapter 3, “Bachelier and His Legacy”; original teaching treatment with further sources below.Published 28 Jul 202622 sections
4. 04The House of Modern FinanceSource: Benoit Mandelbrot and Richard L. Hudson, *The (Mis)Behaviour of Markets*, Chapter 4, “The House of Modern Finance”; original teaching treatment with further sources below.Published 28 Jul 202622 sections
5. 05The Case Against the Modern Theory of FinanceSource: Benoit Mandelbrot and Richard L. Hudson, *The (Mis)Behaviour of Markets*, Chapter 5, “The Case Against the Modern Theory of Finance”; original teaching treatment with further sources below.Published 28 Jul 202630 sections
6. 06Turbulent Markets: A PreviewSource: Benoit Mandelbrot and Richard L. Hudson, *The (Mis)Behaviour of Markets*, Chapter 6, “Turbulent Markets: A Preview”; original teaching treatment with further sources below.Published 28 Jul 202626 sections
7. 07Studies in Roughness: A Fractal PrimerSource: Benoit Mandelbrot and Richard L. Hudson, *The (Mis)Behaviour of Markets*, Chapter 7, “Studies in Roughness: A Fractal Primer”; original teaching treatment with further sources below.Published 28 Jul 202633 sections
8. 08The Mystery of CottonSource: Benoit Mandelbrot and Richard L. Hudson, The Misbehaviour of Markets, Chapter VIII, "The Mystery of Cotton" • Course status: middle-chapter study for the Mandelbrot markets coursePublished 14 Jul 202628 sections
9. 09Long Memory, from the Nile to the MarketplaceSource: Benoit Mandelbrot and Richard L. Hudson, The Misbehaviour of Markets, Chapter IX, "Long Memory, from the Nile to the Marketplace" • Course status: middle-chapter study for the Mandelbrot markets coursePublished 14 Jul 202629 sections
10. 10Noah, Joseph, and Market BubblesSource: Benoit Mandelbrot and Richard L. Hudson, The Misbehaviour of Markets, "Noah, Joseph and Market Bubbles" • Course status: deeper Mandelbrot markets course dayPublished 14 Jul 202628 sections
11. 11The Multifractal Nature of Trading TimeSource: Benoit Mandelbrot and Richard L. Hudson, The Misbehaviour of Markets, "The Multifractal Nature of Trading Time" • Course status: deeper Mandelbrot markets course dayPublished 14 Jul 202636 sections
12. 12Ten Heresies of FinanceSource: Benoit Mandelbrot and Richard L. Hudson, The Misbehaviour of Markets, Chapter XII, "Ten Heresies of Finance"; Part III is titled "The Way Ahead" • Course status: deeper Mandelbrot markets course dayPublished 14 Jul 202629 sections
13. 13In the LabSource: Benoit Mandelbrot and Richard L. Hudson, *The (Mis)Behaviour of Markets*, Chapter 13, “In the Lab”; technical context from the primary studies linked below.Published 26 Jul 202631 sections