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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (61630)	6/7/1999 11:13:00 PM
From: Don Lloyd	Read Replies (1) \| Respond to of 132070

MB - (...the equity markets are always irrational. They seem to be more so right now, but there has never been a "normal" market...) A new book recommendation from The Motley Fool commentary on AOL - amazon.com Patterns in the Dark: Understanding Risk and Financial Crisis with Complexity Theory by Edgar E. Peters --- Reviews "A fascinating account of one of today's great paradoxes: the irreducible uncertainty that lies at the heart of social and economic order. A perfectly efficient market could not possibly work. Uncertainty reduces risk. Ed Peters takes our most cherished beliefs, turns them upside down, and convinces us that they're much better that way."( Ian Stewart, bestselling author of Does God Play Dice? and regular columnist for Scientific American) TOC: 1. Introduction: Life, Risk, and Uncertainty 2. Imposing Order: Conspiracies and the mathematics of Ignorance 3. Uncertainty, Vagueness, and Ambiguity: The Need for Information 4. Complexity and Time: The Dynamics of Uncertainty 5. Subjectivism: "The Economics of Time and Ignorance" 6. Diversity of Knowledge 7. Crisis and Competition: Creative Destruction in Free Markets 8. Economic Evolution: Change in Real Time 9. Creativity: Uncertainty, Innovation, and Entrepreneurs 10. Rules and Law: Limits in Complexity 11. Degrees of Order: Balancing Rules, Freedom, and Uncertainty 12. The Need for Uncertainty References Index Book Description Patterns in the Dark is that rare book that offers an entirely new perspective on an issue of ongoing concern to investors: the unpredictability of financial markets. In this groundbreaking work, leading investment strategist and authority on chaos theory, Edgar Peters makes accessible ways of understanding market behavior that-until now-were known only to specialists. Patterns in the Dark draws on a broad range of human knowledge and experience to clarify the behavior of a system that now operates on a global, 24-hour, and thoroughly interconnected basis. Peters illuminates the complex operation of the marketplace by including keen observations drawn from science, mathematics, and artistic creation as well as economics. His models include the social visions of the Austrian economists, Darwinian ideas of evolution, the laws of physics, and the creative risks of the artist. His meditations on financial markets weigh the effects of limitations vs. rules, risks vs. uncertainty, and order vs. chaos. As a guide to a world marketplace that has become increasingly complex and uncertain, Patterns in the Dark offers the investor a rich source of insight, illumination, and wisdom. --- Regards, Don