I understand the parts I've worked in. No one likely has a clear understanding of 100% of finance (this actually crosses finance, accounting and economics, as well as statistics, programming and many other disciplines).
I have degrees in Finance and Economics, I'm a software engineer and my first job was as an Auditor for Andersen, so yeah, I've got a bit of a back ground in the "complex parts" of finance.
All it is for the most part is a fucking shell game FYI with different entities jumping through different nonsensical made up loopholes in tax law, financial regulations and anything else they can do to game the system.
Lots of people understood the "innovative finance" in 2008 and prior. For every stupid bet, there's someone on the other side. In fact, the reason we saw almost no finance people go to prison while the government gave billions, shows they know it far better than you give them credit.
You're right, reading a book about it is beyond most people. You have to actually pay attention as well.
I have degrees in Finance and Economics, I'm a software engineer and my first job was as an Auditor for Andersen, so yeah, I've got a bit of a back ground in the "complex parts" of finance.
All it is for the most part is a fucking shell game FYI with different entities jumping through different nonsensical made up loopholes in tax law, financial regulations and anything else they can do to game the system.
Lots of people understood the "innovative finance" in 2008 and prior. For every stupid bet, there's someone on the other side. In fact, the reason we saw almost no finance people go to prison while the government gave billions, shows they know it far better than you give them credit.
You're right, reading a book about it is beyond most people. You have to actually pay attention as well.