Quotes from Edgar E. Peters

Benoit Mandelbrot can be considered the Euclid of fractal geometry. He has collected the observations of mathematicians concerned with monsters, or objects not definable by euclidean geometry. By combining the work of these mathematicians with his own insight, he has created a geometry of nature that thrives on asymmetry and roughness. Mandelbrot has said that mountains are not cones, and clouds are not spheres.

Fundamental analysis often works, but it often fails. Technical analysis often works, and then it does not work. Economists speak of economic cycles, but none can be found analytically. Traders speak of market cycles; they too cannot be proven. To top it off, the critics of the EMH have been unable to offer an alternative that takes all the discrepancies into account. In few other areas are theory and practical experience in such little agreement.