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How do I go from not understanding economics/finance, to pretending to understand it? I feel like that finance uniquely is a field that every time I have tried

How do I go from not understanding economics/finance, to pretending to understand it? I feel like that finance uniquely is a field that every time I have tried to penetrate I get a mix of unintelligible jargon and mathematics as a facade of rigor. I am comfortable reading both math and programming textbooks, but every finance book I've picked up so far seems to quickly not make any sense to me at all.

porknubbins 6y ago
Having tried this in undergrad, lets say you’ve gotten through an Econ 101 text all the way through harder Finance math like understanding Black Scholes- you’re about half way. Now you have to learn about huge arbitrary or historical institutional complexity around how finance really works. The only way I can see how anyone keeps it in their head is they are paid to do it every day. Also there is not necessarily one truth to grasp, its more like studying climate change.
bsenftner 6y ago
I have an MBA in Finance, and after getting to the bottom of the math, it's all just bare faced gambling, dressed up with $10 words. I really wish I could say it was not, but this blog analysis of the Fed and the attitude it voices is spot on. The Economists of the world are fucking idiots.
- me_me_me 6y ago
  I have recently finished 'Lost in Math'. And that was one of the points, apparently physicists switching to economists say math is simplistic and superflous. Math is math, but it can be used as a window dressing for you opinions. On the other hand if your field pretends to be science. Also creates and awards itself a Nobel prize and pretends its an actual thing. Well maybe its a sign of a con.
  - bsenftner 6y ago
    Tip of the iceberg: https://yalebooks.yale.edu/book/9780300249873/whats-wrong-economics https://yalebooks.yale.edu/book/9780300249873/whats-wrong-ec... There are also multiple Economist blogs lamenting the overly cruel politics of the industry.
- adwi 6y ago
  Agreed. When that hunch crept in I scrolled to the bio, read this, then immediately hit the back button: > [The author, in third person] is not an economist, which is probably why he's been able to develop a working model of the global monetary system. His research is unique and informative in ways an economist would never consider.
- perl4ever 6y ago
  >I have an MBA in Finance, and after getting to the bottom of the math There is a distinction between an MBA or finance degree and the field of economics. You might not have gotten quite to the bottom of it. Of course financial activity has a lot of resemblance to gambling. Mathematicians have been analyzing gambling for a long time, but does that make them the same as anyone playing slots in Vegas?
clairity 6y ago
go to business school? but seriously, from a quick skim, this article seems to be mostly macroeconomics, with a little finance sprinkled in. for a cursory understanding, no (additional) math is needed, just micro, macro, and basic finance. you could take online courses for those and use investopedia as a quick reference.

porknubbins 6y ago

Having tried this in undergrad, lets say you’ve gotten through an Econ 101 text all the way through harder Finance math like understanding Black Scholes- you’re about half way. Now you have to learn about huge arbitrary or historical institutional complexity around how finance really works. The only way I can see how anyone keeps it in their head is they are paid to do it every day. Also there is not necessarily one truth to grasp, its more like studying climate change.

bsenftner 6y ago

I have an MBA in Finance, and after getting to the bottom of the math, it's all just bare faced gambling, dressed up with $10 words. I really wish I could say it was not, but this blog analysis of the Fed and the attitude it voices is spot on. The Economists of the world are fucking idiots.

me_me_me 6y ago
I have recently finished 'Lost in Math'. And that was one of the points, apparently physicists switching to economists say math is simplistic and superflous. Math is math, but it can be used as a window dressing for you opinions. On the other hand if your field pretends to be science. Also creates and awards itself a Nobel prize and pretends its an actual thing. Well maybe its a sign of a con.
- bsenftner 6y ago
  Tip of the iceberg: https://yalebooks.yale.edu/book/9780300249873/whats-wrong-economics https://yalebooks.yale.edu/book/9780300249873/whats-wrong-ec... There are also multiple Economist blogs lamenting the overly cruel politics of the industry.
adwi 6y ago
Agreed. When that hunch crept in I scrolled to the bio, read this, then immediately hit the back button: > [The author, in third person] is not an economist, which is probably why he's been able to develop a working model of the global monetary system. His research is unique and informative in ways an economist would never consider.
perl4ever 6y ago
>I have an MBA in Finance, and after getting to the bottom of the math There is a distinction between an MBA or finance degree and the field of economics. You might not have gotten quite to the bottom of it. Of course financial activity has a lot of resemblance to gambling. Mathematicians have been analyzing gambling for a long time, but does that make them the same as anyone playing slots in Vegas?

clairity 6y ago

go to business school? but seriously, from a quick skim, this article seems to be mostly macroeconomics, with a little finance sprinkled in. for a cursory understanding, no (additional) math is needed, just micro, macro, and basic finance. you could take online courses for those and use investopedia as a quick reference.