Quote by Richard Dooling

Over and over again, financial experts and wonkish talking heads endeavor to explain these mysterious, 'toxic' financial instruments to us lay folk. Over and over, they ignobly fail, because we all know that no one understands credit default obligations and derivatives, except perhaps Mr. Buffett and the computers who created them.

Over and over again, financial experts and wonkish talking h

Summary

This quote highlights the complexity and incomprehensibility of certain financial instruments, particularly credit default obligations and derivatives, to the average person. It suggests that despite the attempts of financial experts and analysts to explain these instruments, they often fall short in their explanations. The quote playfully suggests that only individuals like Warren Buffett and the sophisticated computer algorithms that developed these instruments truly understand them, implying that they are beyond the grasp of the general public.

Topics

Computers

By Richard Dooling

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