Preface
“... some scholars now believe that stock prices have been more volatile (with Black Monday and Terrible Tuesday, October 19–20, 1987, being prime examples) that any existing theory would suggest.” William F. Sharpe and Cordon J. Alexander, Investment, Prentice-Hall, 1992, Preface.
“Most of the models assume that stock options follow a log-normal distribution, in fact, I found out that the actual price distributions of virtually all financial markets tend to have fatter tails than suggested by the log-normal distribution.”
Blair Hull, Jack D. Schwager, The New Market Wizards, Harper Business, 1992, p. 337.
“... However, it has often been argued that the true distributions returns (even ...
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