The inescapable need for fractal tools in finance

  title={The inescapable need for fractal tools in finance},
  author={Beno{\^i}t B. Mandelbrot},
  journal={Annals of Finance},
Summary.This short paper advances and defends a strong statement concerning financial modeling. It argues that, even when the present fractal models become superseded, fractal tools are bound to remain central to finance. The reasons are that the main feature of price records is roughness and that the proper language of the theory of roughness in nature and culture is fractal geometry.