3 ms·
Struck a nerve, or just the Dunning-Kruger effect struck. I'm not a finance code money, never was, not aspiring to be either. The simple fact that these high-
by pas 7y ago
Struck a nerve, or just the Dunning-Kruger effect struck.
I'm not a finance code money, never was, not aspiring to be either.
The simple fact that these high-end/custom/complex finance products/services are not cheap but people buy them means that it provides value to some rich investment people. (And they usually know what makes them money.)
Computers made everything grow since there are computers. Every company uses spreadsheets, uses or subcontracts the use of tax, payroll, healthcare/benefits and accounting software. Email, telephones (modern telephony is completely computerized), and so on (basically everything nowadays depend in its current form on chips and electricity).
Finance was simply one of the most well suited aspects of the business world to benefit from computerization. So it grew a lot. But naturally we're nowhere near the "end of automation". Software is eating the world, but quite slowly, because the world is complex - as you said, however modeling it and putting some tracking indexes on it and quoting a price can be done well. (This is what MSCI do for example. Benchmark indexes are very crude but generally useful things - and their purpose is exactly to paper over the complexity of real life, of "real industry" for business analysis purposes.)