Tuesday, December 21, 2004

Time waster

All this blah, blah, blah and "higher" mathematics
when it's all so simple.

Markets go up on greed, down on fear and sideways
on indecision.

But if you're into confusion and blah, blah you
certainly are welcome to it. I didn't waste my time.

1. Since in the limit N --> infinity, the model
operates on a purely deterministic basis, it
actually challenges the purely external and
unpredictable origin of market prices. Our model
exploits the continuous mimicry of financial
markets to show that the disordered and random
aspect of the time series of prices can be in
part explained not only by the advent of "random"
news and events, but can also be generated by the
behavior of the agents fixing the prices.

—A. Corcos1, J.-P. Eckmann, A. Malaspinas, Y.
Malevergne and D. Sornette, Imitation and
contrarian behavior: hyperbolic bubbles, crashes
and chaos