QOTD: "Complexity Impresses"

I think the money shot from James Montier’s Flaws of Finance rap that I linked to earlier is this:

Unfortunately in finance we have a habit of liking complexity.

Because complexity impresses.

It allows people to charge high fees.

It keeps outsiders out.

…and so we rely on complexity to baffle, bamboozle and generally thwart common understanding.

Tell me that doesn’t explain half the stupid shit we witness on The Street day in, day out.

When I create the next presentation for my firm’s asset management services, I’m going to see if I can do it in less than 10 slides.  I’m going to try to avoid using any words that non-finance people couldn’t understand.