Sep 16, 2008 | 15
Crash, crash. Doom, doom. Panic on the Street. Wall Street yesterday suffered its worst decline since the Sept. 11 terrorist attacks – and the free fall suggests it may be time to consider burying the family stash of Krugerrands under the rose garden or tool shed.
The list of Chicken Little events was long: investment house Lehman’s bankruptcy, the capital crunch for mega-insurer AIG, the sale of Merrill Lynch to Bank of America. But Stormy Monday (a weather system that appears to be carrying over to be lingering) probably came as no surprise to a cadre of mathematicians who specialize in surveying the dynamics of markets.
One of those long-time market watchers is fractal pioneer Benoit Mandelbrot. In 1999, Scientific American published an article by Mandelbrot that showed how fractal geometry can model market volatility, while revealing the intrinsic deficiencies of a cornerstone of finance called modern portfolio theory (for which there has been awarded more than one Nobel Prize in Economics).
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The Dow Chemical Company is the leading producer of polyalkylene glycols (PAGs) used in synthetic fluids and lubricants where petroleum,
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Conventional washing machines cause excessive damage and wrinkling to clothes primarily during the water removal step. With the introduc
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