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Fractal Market Analysis: Applying Chaos Theory to Investment and Economics
 
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Fractal Market Analysis: Applying Chaos Theory to Investment and Economics [Hardcover]

Edgar E. Peters (Author)
3.6 out of 5 stars  See all reviews (10 customer reviews)
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The average investor is usually unaware of the theoretical bases and academic underpinnings of various investment strategies. Investment books and popular reference guides barely mention efficient market or random walk theory, and the mathematical aspect of portfolio management theory appears as little more than a footnote. Little actually new has been added to the field of investment and market theory for the last 30 years, but recently Peters introduced the landmark Chaos and Order in the Capital Markets (1991). Chaos theory is a branch of mathematics that, despite its name, attempts to make order out of seemingly random events and that has found application in the natural sciences. Market chaologists, as they have come to be known, have marshaled an array of formulas and computer models but have been criticized for not being able to explain their ideas in practical terms or to demonstrate how to apply these ideas. Fractals are the main mathematical tool of chaos theory, and Peters now shows how these can be applied to financial markets and trading. This book is unquestionably complex and relatively expensive, but all libraries with investment collections should consider purchasing at least one copy. David Rouse

Book Description

A leading pioneer in the field offers practical applications of this innovative science. Peters describes complex concepts in an easy-to-follow manner for the non-mathematician. He uses fractals, rescaled range analysis and nonlinear dynamical models to explain behavior and understand price movements. These are specific tools employed by chaos scientists to map and measure physical and now, economic phenomena.
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Customer Reviews

10 Reviews
5 star:
 (3)
4 star:
 (4)
3 star:
 (1)
2 star:    (0)
1 star:
 (2)
 
 
 
 
 
Average Customer Review
3.6 out of 5 stars (10 customer reviews)
 
 
 
 
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4.0 out of 5 stars Gets you up and running with chaos theory for time series, Mar 22 2004
By A Customer
This review is from: Fractal Market Analysis: Applying Chaos Theory to Investment and Economics (Hardcover)
This book includes a very detailed description of how to apply some chaos theory techniques - primarily R/S analysis - to time series data. With this technique, one can gauge whether a time series is completely random, completely predictive, or a mixture of these.

This book glosses over some conceptual topics such as Efficient Market Theory and the Fractal Market Hypothesis in favor of details to perform a rigorous statistical analysis. These conceptual topics are better covered in Peters' earlier work "Chaos and Order in the Capital Markets".

For the analytically oriented reader, there can be much frustration as equations are often initially presented in sloppy and unusable forms with undefined parameters (hence 4 of 5 stars). However, these are subsequently broken down and presented in a step-by-step manner that will allow most readers to implement his techniques.

Overall, this is an excellent introductory book for the practitioner or economist, not so great for the non-technical reader.

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1.0 out of 5 stars This book is a disappointment, Feb 13 2002
This review is from: Fractal Market Analysis: Applying Chaos Theory to Investment and Economics (Hardcover)
As a market analyst for an oil company, I spend considerable effort in trying to find new ways and theories to "decode" the markets and overcome uncertainty. I had hoped Mr. Peters book would offer a model of analysis to test and hopefully use.

Unfortunately, the deeper you get into the "meet and potatoes" of this text, the more disappointing it gets. This book offers nothing. Readers less skilled in the subject matter might attribute this to their shortcomings or lesser math skills. Readers well-versed in this subject matter will easily determine that this text is a waste of time...

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4.0 out of 5 stars Good for newcomers to FMA, July 5 2001
This review is from: Fractal Market Analysis: Applying Chaos Theory to Investment and Economics (Hardcover)
I have found Mr. Peters book excellent. I am no mathematician and still I found it easy to read. I was interested in learning about fractal market analysis and I found what I needed in this book.
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