![]() ![]() The narrative perspective is absolute useful too. But from a few building blocks you will be able to understand how all sorts of things work, eg convertible bonds, rights issues, dividends (this is a surprisingly insanely deep rabbit hole), interest rate swaps, mortgages, ETFs, employee option grants, stablecoins. ![]() ![]() They are technical books, not so narrative as much as math. Whether you're a Venetian banker during the Renaissance or staking the newest, fanciest cryptocurrency, these books will illuminate how the instruments work. Read Hull and Willmot, and maybe Natenberg. The fundamentals of instruments are things like the time value of money and optionality. Since you're asking about the markets, let's leave the technical ones for now. The two layers are the financial abstractions (instruments, entities, ecologies) and technical ones (programs, networks, databases). You have to start with the fundamentals, on two abstraction layers. I've worked as a quant/dev in finance for nearly two decades now, and I've been fortunate enough to touch every major asset class on multiple time scales. ![]()
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