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The author Cullen Roche
Cullen Roche
Former mail delivery boy turned multi-asset investment manager, author, Ironman & chicken farmer. Probably should have stayed with mail delivery....

Cullen Roche: Pragmatic Capitalism

Why Pump & Dumps Are Dangerous

On Sunday evening, before GameStop had fallen 85% from its peak, I said: My guess is GME will collapse in the coming months or year when this charade passes and a lot of people will get hurt along the way. I can’t lie. I am really mad to be right about this. Mainly because all of the narratives surrounding this whole charade have been so disingenuous/misinformed and a lot of famous people promoted those bad narratives along the way. And now we’re finding out that a lot of small retail...

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Three Things I Think I Think – YOLO Gambling is Reckless

Here are some things I think I am thinking about. Actually, they’re all basically the same thing and they’re all GameStop, of course. But whatever. 1) The Short Sellers Did It!  The GameStop saga has been a nearly endless stream of bad narratives. And the one narrative that no one is discussing, the one that actually makes sense is “YOLO gambling is reckless”. But we’ll come back to that in a minute. The bad narratives started with evil short sellers. You know how it goes – short sellers...

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My View On: Short Selling

The recent craziness in Gamestop has resulted in a lot of hot takes on short selling. I have the hottest takes, of course, so let’s dive into this a bit deeper and put this debate to rest.  Here’s a piping hot take from the richest man in the world: Wow. That kinda makes sense. But wait, does it really? No, Cullen, stop. Back up. Let’s explain how this works first. Just so we’re all on the same page. Short Selling Basics. This whole convo kinda reminds me of the buyback debates or the...

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Three Things I Think I Think – GAMESTONK!

I’d love to talk about the mechanics of Central Banking or index funds, but the only thing that matters in financial markets right now is Gamestop. So…we’re going to talk about index funds. Seriously. But also we’ll talk about Gamestop so don’t worry. If you haven’t been reading up on the Gamestop saga then maybe circle back to yesterday’s article.  1) Robin Hood or Robinhood? The big story of the day is that Robinhood the trading platform shut down access to buying new shares of Gamestop....

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Three Things I Think I Think – Civil WHAT?

Here are some things I think I am thinking about: 1) There’s Gonna be a Civil WHAT?  Here’s an interesting tweet from Ray Dalio: I really like Ray Dalio. His All Weather portfolio is more or less the kind of permanent portfolio that I think most savers should try to implement (for most of their savings). But I have a hard time figuring out how some of his broader macro views fit into all of this. For instance, he believes that there are long-term debt cycles that create patterns in social...

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Rational Reminder Podcast – Understanding the Modern Monetary System

I recorded this podcast a few weeks ago with Cam Passmore and Ben Felix on the Rational Reminder show. Ben had read some of my work over the years and reached out to me before publishing this absolutely wonderful explanation of QE. He asked for my critique of the video, but I couldn’t find any. He had succinctly and thoroughly explained the topic like few can. Then he asked me to come on his podcast to do something I’ve never done before – go through my popular paper “Understanding the...

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RR #132 – Cullen Roche: Understanding the Modern Monetary System

With so many moving parts, it’s difficult to develop a clear view of the US monetary system. Today we speak with Pragmatic Capitalism author and Founder of Orcam Financial Group Cullen Roche, leveraging his expertise to build a comprehensive understanding of the monetary system. We open our interview with Cullen by asking him the deceptively simple question, “what is money?” We then explore where money comes from, the role of the central bank in securing our money supply,...

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2021 World Podcast Tour Begins!

Well, it looks like it’s going to be another year of Zoom calls so what better way to start it off than a podcast recorded on a Zoom call. I joined Stig and Preston on The Investor’s Podcast again and we covered a lot of ground including: – Why money supply expansion is not equal to inflation– Understanding the new rules of bond investing in today’s inflation and interest rate environment– How to protect your portfolio against inflation– Whether there is a rational argument for stocks to...

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331 TIP. Inflation w/ Cullen Roche

On today’s show, we bring back investment expert, Cullen Roche, to talk about inflation, the state of the economy, and whether there is a rational argument for stocks trading at 50x earnings. Cullen is the father of Pragmatic Capitalism, the author of multiple investing books, and the regular guest of Bloomberg and major financial news outlets. He has also minced hundreds of millions of dollars for the past two decades and is always a wealth of information. IN THIS EPISODE,...

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TIP331: Inflation w/ Cullen Roche

On today’s show, we bring back investment expert, Cullen Roche, to talk about inflation, the state of the economy, and whether there is a rational argument for stocks trading at 50x earnings. Cullen is the father of Pragmatic Capitalism, the author of multiple investing books, and the regular guest of Bloomberg and major financial news outlets. He has also minced hundreds of millions of dollars for the past two decades and is always a wealth of information. IN THIS EPISODE,...

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