Benoit Mandelbrot, the father of fractals, spoke last week to an audience at MIT gathered by the Molecular Frontiers Club. Mandelbrot focused his remarks on his recent efforts to seek out patterns in the NASDAQ. (Video of a 2001 lecture at MIT, where Mandelbrot touched on this subject, is available here.) The fractal nature of the market is the subject of Mandelbrot's latest popular book co-written with journalist Richard L. Hudson, titled "The (Mis) Behavior of Markets: A Fractal View of Risk, Ruin And Reward." From the MIT News Office:
An unusual type of fractal that comes from a simple equation, the Mandelbrot Set (image at right) is popular outside of mathematics because of its aesthetic appeal and its complicated structure. No one has been able to prove the Mandelbrot Set is true, according to Mandelbrot. "But no one has been able to prove it's not true, either," he said, as large pictures of fractals filled the screen behind him.
Mandelbrot recently began to apply his knowledge of fractals to explain stock markets. "Markets, like oceans, have turbulence," he said. "Some days the change in markets is very small, and some days it moves in a huge leap. Only fractals can explain this kind of random change."
Link to MIT News Office article, Link to buy The (Mis)Behavior of Markets
Hackers tried to break into the World Health Organization earlier in March, as the COVID-19 pandemic spread, Reuters reports. Security experts blame an advanced cyber-espionage hacker group known as DarkHotel. A senior agency official says the WHO has been facing a more than two-fold increase in cyberattacks since the coronavirus pandemic began.
Additional $15M will go to third parties and nonprofits
The death toll in Italy’s coronavirus outbreak today passed 1,000. Schools throughout Italy are completely shut down, which is reportedly driving a surge in internet traffic as bored kids forced to stay indoors turn to online games.
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