Falkenstein has a weird outlook. It seems to mostly involves seeing those things that are well-liked by wallstreet as successes and anything else as failures - Mandlebrot is thus failure since he hasn't sold his models as a product to wallstreet.
In another post on his blog, he describes the financial regulation of the market 1930-1970 as a "failure" based on the rent-extraction which the specialists derived. Never mind the stable growth of the economy during much of that time and the various financial disasters since then.
In another post on his blog, he describes the financial regulation of the market 1930-1970 as a "failure" based on the rent-extraction which the specialists derived. Never mind the stable growth of the economy during much of that time and the various financial disasters since then.