I've read some of Mandelbrot's works on finance and I would never put him in the... | Hacker News

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		ANH on Oct 19, 2010 \| parent \| context \| favorite \| on: Why didn’t people in finance pay attention to Beno... I've read some of Mandelbrot's works on finance and I would never put him in the same category as the "technicians". It's hocus pocus mumbo jumbo that I don't think he would subscribe to (e.g. Elliot Wave's "5 up, 3 down" principle).

SkyMarshal on Oct 20, 2010 [–]

Agreed. And finance was never the primary objective of Mandelbrot's development of fractals anyway, just a side effect of varying degrees of interest.

Elliot Wave appears to be an attempt to back fit a rather simplistic theory to patterns in financial time series data. Fractals are so much more.

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