Can one make any predictions in finances using the Hurst exponent?

Dariusz Grech and Zygmunt Mazur

The idea of local Hurst exponent is applied to DJIA index time series. First, the optimal length of the time window over which the exponent is to
be calculated is discussed. Then some connections between peculiar behaviour of the local Hurst exponent prior to drastic changes in DJIA
index are postulated and verified with the use of '29, '87 crushes and more recent phenomena in american stock market.