Let me say up front I am not saying the idea that stock market price time series are self-similar is new. What's new is that a specific structure (i.e. the dynamic equilibrium + shocks) appears at different scales. Here we steadily zoom in on the S&P 500 from a multi-year timescale, to a few years, to on the order of a year, down to months (discovering new shocks at smaller and smaller scales):
No comments:
Post a Comment
Comments are welcome. Please see the Moderation and comment policy.
Also, try to avoid the use of dollar signs as they interfere with my setup of mathjax. I left it set up that way because I think this is funny for an economics blog. You can use € or £ instead.
Note: Only a member of this blog may post a comment.