The Fog of Complexity
If you see a financial term or product that is too complex to understand, it's probably nothing but jargon invented to sell something useless
One of Warren Buffett's less well-known quotes is, 'If calculus or algebra were required to be a great investor, I'd have to go back to delivering newspapers.' To be a successful investor he hasn't needed any more maths than plain old addition, subtraction, multiplication and division. However, don't tell that to the professional peddlers of complexity that seem to infest the business of convincing people to invest. The other day, I came across an advertisement for an opportunity to learn about how 'gamma' could be used for financial planning, including, apparently, for mutual fund investments.
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