Mandelbrot - extrait de "The (mis) behavior of the markets"

Five rules of market behavior, :

1. Market are risky
Extrem price swings are the norm, not abberations.

2. Trouble runs in streak
Market turbulence tends to cluster.

3. Markets have a personality
Prices are not driven solely by real-world events, new, and people.

4. Markets mislead
Bubbles and crashes are inherent to markets, they are the inevitable consequence of the humans to find patterns in the patternless.

5. Market time is relative
Time speeds up the clock in periods of high volatility, and slows it down in period of stability.