Cutting Edge introduction: Tales of tails

Tales of tails


Benoît Mandelbrot was a maverick Polish-French-American mathematician most famous for his invention of fractals – shapes with a structure that looks the same at all scales – which, aside from mathematics, was a great contribution to student dormitory interior design. He was also the first to show the importance of fat-tailed probability distributions to finance. While working as a researcher at IBM in the 1960s, he had the freedom to study almost anything he pleased, and cho