Pragmatic Capitalism: What Every Investor Needs to Know About Money and Finance

Overview

Being successful in the modern world of finance requires a more in-depth understanding of our global economies on a macro level. What does a shifting demographic cycle mean? How does the explosive growth of emerging markets matter? Why does the world?s population affect my portfolio? Does the global monetary system impact my results this year? How does government intervention in markets impact my strategy? In Pragmatic Capitalism, Cullen Roche explores how our global economy works and why it is more important now...

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Pragmatic Capitalism: What Every Investor Needs to Know About Money and Finance

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Overview

Being successful in the modern world of finance requires a more in-depth understanding of our global economies on a macro level. What does a shifting demographic cycle mean? How does the explosive growth of emerging markets matter? Why does the world’s population affect my portfolio? Does the global monetary system impact my results this year? How does government intervention in markets impact my strategy? In Pragmatic Capitalism, Cullen Roche explores how our global economy works and why it is more important now than ever for investors to understand macroeconomics. Cullen Roche combines his expertise in global macro portfolio management, quantitative risk management, behavioral finance, and monetary theory to explain to readers how macroeconomics works, and provides insights and suggestions for getting the most out of their investment strategies. This book will uncover market myths and explain the rise of macroeconomics and why it impacts the readers’ portfolio construction. Pragmatic Capitalism is a must for any sophisticated investor who wants to make the most of their portfolio.

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Editorial Reviews

Publishers Weekly
04/14/2014
In friendly, clear prose, financial consultant Roche introduces the macroeconomic principles that readers need to know as they venture into the world of investing. Roche explains basic concepts: the difference between saving and investing, how to understand a corporate balance sheet, and the function of the Federal Reserve. He is fond of claiming to dispel widely held myths—for example, the stock market does not produce the level of returns most people think. (A few of the myths he debunks seem curious choices; post-Great Recession, does anyone believe that “economists have all the economic answers,” or that owning a house is a great investment?) Though the book is more explanatory than how-to, Roche cautions against paying high fees, and gives tips for picking a money manager. In one of the most valuable chapters, an overview of behavioral finance, Roche urges readers to look beyond specific financial assets and instead focus on an investing process. A very good suggested reading list rounds out the book. This fine resource, which focuses on the larger picture more than most personal finance magazines and blogs do, would be a good addition to individual investors’ libraries and would make a savvy gift for recent graduates. (July)
From the Publisher
"It has never before been more crucial for investors to understand the way our modern monetary system affects the capital markets. Huge fortunes have been made in recent years as a direct consequence of this awareness, billions have been lost by those who've failed to make the right connections. With Pragmatic Capitalism, Roche has written the definitive book on the topic—investors of all experience levels are advised to read this to get up to speed."—Joshua M. Brown, author, Backstage Wall Street, The Reformed Broker blog, and on-air contributor to CNBC

 

"Pragmatic Capitalism takes an ambitious and engaging tear through our often misguided perceptions about markets, money and behavior. Cullen brings investors back to reality by smartly forcing a no nonsense gut check. Ignore his wisdom, and life is harder."—Michael W. Covel, President, Trend Following

“Cullen Roche explodes all the myths that might hurt the performance of small or big investors in the financial markets. He explains in simple terms why investors can rely on neither mainstream macroeconomic theory nor the efficient market hypothesis. He shows how the monetary system truly works, such as the likely impact of public budget deficits or quantitative easing on price inflation and interest rates.”—Marc Lavoie, Professor of Econonics, University of Ottawa

“Chapters 7 and 8 should be required reading for all investors, economists and politicians (and anyone else wanting to understand the macroeconomic system). Cullen has done the world a great (and rare) service by seeking to talk about the economy as it actually is, rather than how it should be.”—James Montier, Analyst, GMO and author of The Little Book of Behavioural Investing

"In Pragmatic Capitalism, Roche combines sensible advice for investors with a lucid primer on the role of money, banks and central banking in the modern world."—James Galbraith,Professor at University of Texas, Austin

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Product Details

  • ISBN-13: 9781137279316
  • Publisher: St. Martin's Press
  • Publication date: 7/8/2014
  • Pages: 256
  • Sales rank: 279,317
  • Product dimensions: 6.40 (w) x 9.30 (h) x 0.90 (d)

Meet the Author

Cullen Roche is the founder of Orcam Financial Group, a San Diego based financial consulting firm that works with individual investors and institutions. He previously worked at Merrill Lynch before starting a small investment partnership. He is best known for his work on the Great Recession and having predicted the housing bubble. He is the founder of the popular financial blog “Pragmatic Capitalism,” which feeds through to Seeking Alpha. He is regularly cited in The Wall Street Journal and the Financial Times.

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