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Citing Sources The similarity between these figures is undeniable, yet Mandelbrot lists only four references for his article: Mandelbrot, Mandelbrot, Mandelbrot and Mandelbrot.3 His article includes the following self-references: "I claim that variations in financial prices can be accounted for by a model derived from my work in fractal geometry." "These…new modeling techniques are designed to cast a light of order into the seemingly impenetrable thicket of the financial markets." "My own work [contradicts modern portfolio theory and random walk]."4 In fact, it was R.N. Elliott in 19385 who described the multifractal self-affinity of market patterns. It was a 1978 book, Elliott Wave Principle, that included among the implications of Elliott’s discovery that it "challenges the Random Walk theory at every turn."6 Continue with Prechter's Response Scientific Controversy Introduction  -  Mandelbrot's Article - Letter to the Editor Prechter's Response - Follow-up Responses  -  Socionomics