Going to get down voted here but is anyone else concerned that we have people building price prediction systems and hedge fund accountants that admit they don't have a complete understanding of what a short sale is?
I won't down-vote you, even though I'm that hedge fund accountant you're talking about. :) Even without knowing all the minute intricacies of how the share lending occurs, my accounting results can still pass audits with flying colors, year after year.
Just in case anyone thinks I'm proud of my "ignorance," I'm not. I'm discussing things here in order to gain a better understanding, even though that understanding is not crucial to my performance as an accountant.
And yes, I am concerned about the current sorry state of so-called "markets."
If I'm a web developer but I have no idea how CPUs actually work or how a Cisco router sends my packets around the world, does that mean we should be concerned about the stability of the Internet?
When I worked in banking risk, accounting, finance, audit etc had very little understanding of the business, basic pricing & risking, market mechanics etc.
