Complexity, Risk, and Financial Markets: 84 (Wiley Investment) - Softcover

Peters, Edgar E.

Softcover

ISBN 10: 0471399817 ISBN 13: 9780471399810

Publisher: Wiley, 2001

Synopsis

Patterns in the Dark is that rare book that offers an entirely new perspective on an issue of ongoing concern to investors: the unpredictability of financial markets. In this groundbreaking work, leading investment strategist and authority on chaos theory, Edgar Peters makes accessible ways of understanding market behavior that-until now-were known only to specialists.

Patterns in the Dark draws on a broad range of human knowledge and experience to clarify the behavior of a system that now operates on a global, 24-hour, and thoroughly interconnected basis. Peters illuminates the complex operation of the marketplace by including keen observations drawn from science, mathematics, and artistic creation as well as economics. His models include the social visions of the Austrian economists, Darwinian ideas of evolution, the laws of physics, and the creative risks of the artist. His meditations on financial markets weigh the effects of limitations vs. rules, risks vs. uncertainty, and order vs. chaos.

As a guide to a world marketplace that has become increasingly complex and uncertain, Patterns in the Dark offers the investor a rich source of insight, illumination, and wisdom.

About this title

About the Author

EDGAR E. PETERS is Chief Investment Strategist and Director of Systematic Asset Allocation for PanAgora Asset Management, a global investment management firm. He is a frequent lecturer on market theory and has taught investment and portfolio management at Babson College, Boston College, and Bentley College. He is the author of Chaos and Order in the Capital Markets and Fractal Market Analysis, as well as numerous articles in professional journals.

From the Back Cover

Praise for complexity, risk, and financial markets

"A fascinating account of one of today's great paradoxes: the irreducible uncertainty that lies at the heart of social and economic order. Ed Peters takes our most cherished beliefs, turns them upside down, and convinces us that they're much better that way."- Ian Stewart, author of Does God Play Dice and columnist for Scientific American

"Is it any wonder why smart traders love volatility, while amateurs shun it? It's because smart traders understand complexity theory. And with the help of Peters' book, you may too!"- Desmond MacRae, The Street.com

"In reading previous contributions to the work of complexity and chaos theory, it's obvious that the forerunners in these fields have been running too fast for the average reader...Peters knows what he is talking about and has done his homework, which makes this a good starting point for gaining insight into an economic paradigm shift bound to take place...[this book] is the real deal about complexity and chaos."- Thomas Stridsman, Futures Magazine

"...Peters always seems to provide compelling insight into how global structure and local randomness interact...the discussions regarding various process models and their implications for economic activity are worth the price of admission alone. Interested investors ought to check it out."- Alex Schay, The Motley Fool.com

Edition details

• Publisher: Wiley
• Publication date: 2001
• Language: English
• ISBN 10: 0471399817
• ISBN 13: 9780471399810
• Binding: Paperback
• Edition number: 1
• Number of pages: 244