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#41
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i don't know if RN Elliot beat mandelbrot to the punch or not, but mandelbrot spent his life generalizing, specifying, and promoting his model.
i call it his model because he seems to give TONS of credit to other authors when due. one of his papers got rejected by a journal b/c "it didn't say anything new" since there were so many cites. so this model that he named and developed imo is his. the multifractal model he developed is extremely impressive. it is "multi" fractal because it scales both with price changes and in time. big price changes look like smaller ones that look like smaller ones. trading time goes 'faster' when there is a lot of action and 'slower' when there is less action regardless of actual clock time. i haven't worked through the math yet so my understanding is still superficial. but the results spreak for themselves, he can recreate real world price changes with a model backwards and forwards. so while he may not have been the first to the punch, he moved the theory forward significantly. Barron |
#42
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BUMP for RM+ to respond to points outlined above in my response to his latest post on the subject.
thanks in advance for your time, Barron |
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