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At 8:00 PM -0400 6/2/98, ric ingram wrote:
>
>For those interested in more information on this subject:
>
>Several pages on the Hurst exponent can be found starting at page 61 of
>'Chaos and Order in the Capital Markets' by Edgar E. Peters.
>
I found both of Peter's books fascinating and very readable. I would like
to hear from others interested in this subject.
His thesis is that the Efficient Market Hypothesis is not correct and he
shows quite convincingly that financial markets have a fractal behavior
similar to that encountered in chaos theory. While this does not provide a
way to predict the market, it does shoot holes in the hypothesis that the
markets are random.
There is an interesting web site related to this subject at
http://ftp.ec.vanderbilt.edu/Chaos/FMH/Index.html
(I received this reference from Neal Chabot.)
Bob Fulks
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