“Some economists, when thinking about long memory, are concerned that it undercuts the Efficient Market Hypothesis that prices fully reflect all relevant information; that the random walk is the best metaphor to describe such markets; and that you cannot beat such an unpredictable market. Well, the Efficient Market Hypothesis is no more than that, a hypothesis. Many a grand theory has died under the onslaught of real data.” Benoît B. Mandelbrot
19 December 2016
Just Charts On a Cold Winter's Night
“And when we give each other Christmas gifts in His name, let us remember that He has given us the sun and the moon and the stars, and the earth with its forests and mountains and oceans— and all that lives and moves upon them. He has given us all green things and everything that blossoms and bears fruit, and all that we quarrel about and all that we have misused— and to save us from our foolishness, from all our sins, He came down to earth, and gave us Himself.”
