I have previously touted the Khan Academy videos produced by Sal Khan. They are a revolution in education produced by a gifted teacher. Bill Gates, in fact, has called Sal Khan his favorite teacher.
This is the first of 7 videos that takes the viewer into the world of currency exchange and shows how China's controlling its currency has an important influence on U.S. interest rates. The videos are approximately 12 minutes in length. Although most readers won't appreciate it, the typical way this information is presented is by using esoteric mind-numbing mathematics which, in the end, detracts from the fundamental principles presented. Watching the 7 videos over the next several days will contribute to making DIY investors considerably more sophisticated.
In this first video, Sal takes us through the dynamics of an imbalance in the demand for U.S. $s versus the Chinese Yuan.
I just watched the first video, quite fascinating how Sal breaks down the topic into basics!
ReplyDeleteNo fancy graphics or anything, just plain blackboard and he does an excellent job explaining the topic.
re: MC By the end of the series you'll see how he explains a complex financial transaction that importantly affects capital markets and yet most investors aren't familiar with. Note also that his videos are only about 12 minutes. I'm starting to believe that a problem with old style education is that the classes are too long and students can't keep their attention span that long. I read some time ago that really smart people only read in 45 minute increments and then take a break.
ReplyDeleteAnyways I think the Khan Academy approach may be a key in solving the financial literacy problem.
Yes, I remember when you made the first recommendation. Thanks for sharing this video also. That's an interesting observation that you mention about attention spans and how it relates to financial literacy.
ReplyDeleteRobert, you put it much more eloquently!
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