Idiot's Guide to Capology?

I have a confession.

I'm flat-out stupid when it comes to capology. And it's not that I can't understand numbers. I used to be a financial analyst and have a decent grasp of budgets, time value of money, that kind of thing.

But I've never, never, never taken the time to fully learn the nuances of the NBA salary cap. Wait a sec'. Let be more honest. I don't even know the basics. How, exactly, does a Trade Exception differ from the MLE?

I know that many of you are cap experts, and probably have a better handle on these issues than some GMs. (Hello, Jim Paxon!) And then ther's a second group of Rockets fans, I'm guessing the majority, who are not capologists, per se, but have enough of a grasp of the vocabulary to engage in trade conversations.

And then there's a third group. A group of loyal Rockets fans, and probably knowledgable about basketball, too, who have no frikkin' clue about the cap. This group might be too shy to ask questions in the trade thread, and instead just silently murmur agreement. I'm in this third group, and I'm betting there are many more like me.

So, what I'm asking, is there anyone out there who can provide us pour saps a kind of "Idiot's Guide to Capology?" And, hopefully, how this applies to the Rockets? (Which is why I included this thread here, as opposed to NBA Dish. Sorry, mods, if this is inappropriate, please feel free to move or lock).

Or, is there a handy website already devoted to this that I could check out?

I'm hoping this thread could: 1) inform us poor ignorant souls and make us better, more savvy, more complete Rockets fans; and 2) spark some discussion on cap strategy and how the Rockets are positioned for the future.

Much, much, much thanks in advance!

 

Great link, SJC. Thanks. That'll be some good subway readin'.


And thanks for the clarifaction on the TE, andymoon.