A Theory of Roughness (2004)
Context: How could it be that the same technique applies to the Internet, the weather and the stock market? Why, without particularly trying, am I touching so many different aspects of many different things?
A recent, important turn in my life occurred when I realized that something that I have long been stating in footnotes should be put on the marquee. I have engaged myself, without realizing it, in undertaking a theory of roughness. Think of color, pitch, heaviness, and hotness. Each is the topic of a branch of physics. Chemistry is filled with acids, sugars, and alcohols; all are concepts derived from sensory perceptions. Roughness is just as important as all those other raw sensations, but was not studied for its own sake. … I was not particularly precocious, but I'm particularly long-lived and continue to evolve even today. Above a multitude of specialized considerations, I see the bulk of my work as having been directed towards a single overarching goal: to develop a rigorous analysis for roughness. At long last, this theme has given powerful cohesion to my life … my fate has been that what I undertook was fully understood only after the fact, very late in my life.
“When the weather changes and hurricanes hit, nobody believes that the laws of physics have changed. Similarly, I don't believe that when the stock market goes into terrible gyrations its rules have changed. It's the same stock market with the same mechanisms and the same people.”
A Theory of Roughness (2004)
Help us to complete the source, original and additional information
Benoît Mandelbrot 56
Polish-born, French and American mathematician 1924–2010Related quotes
“The rules when the giants play are the same as when the pygmies enter the market.”
Dissenting, Scherk v. Alberto-Culver Co., 417 U.S. 506, 526 (1974)
Judicial opinions
Source: Economic Warfare Quotes
“The stock market is not the economy, and the economy is not the stock market.”
repeatedly on his radio program " Marketplace APM https://www.marketplace.org/2019/09/30/the-stock-market-is-not-the-economy/" (September 2019)
Source: Koppel, Robert The Intuitive Trader: Developing Your Inner Trading Wisdom, John Wiley & Sons Inc (May 1996), ISBN 0471130478 Read it here http://books.google.co.uk/books?vid=ISBN0471130478&id=NJ91Vdz_UMsC&pg=PA20&lpg=PA20&dq=seykota&sig=thBknQqxPY3zhgDy_k0LVp0GZ4A
As quoted in Building a Life of Value : Timeless Wisdom to Inspire and Empower Us (2005) by Jason A. Merchey, p. 225
Speaking in Paducah, 2009-05-09
Rand Paul set to launch Senate campaign
KY Wordsmith
http://kywordsmith.com/#/rand-paul-issues/4533680792
2010-11-17
2000s
As quoted in Fighting Fire with Fire: African Americans and Hereditarian Thinking, 1900-1942 by Gregory Michael Dorr (RTF document) http://www.wfu.edu/~caron/ssrs/Dorr.rtf. Dorr dates this quote to 1910.