A sad day for me and for others who admired his inveterate quirkiness and his uncanny ability to "think outside the box."
I never met Dr. Mandelbrot, but we had about a dozen phone conversations over the past 15 years. He liked my research and appreciated that his work on cotton prices inspired me to challenge conventional wisdom in my field of real estate.
In our last conversation, after mentioning that I was updating some old work, I asked him whether to employ newer technology or simply to extend the earlier work with the same technology used back in 1995.
As was often the case, he related a story. This time it concerned a mentor whom he described as a genius and aviation pioneer who received little recognition for his work. Why? Well, it seemed that this man never was satisfied with his aircraft designs, always knowing that he could do something better. As a consequence of his endless quest for perfection, the man never saw his airplane fly.
Dr. Mandelbrot's advice to me was "Just get the plane to fly. Then, others will know what can be refined."
I will miss his sage counsel.