Cullen Roche: Pragmatic Capitalism

Download Stig & Preston's 1 page checklist for finding great stock picks: http://buffettsbooks.com/checklist Subscribe to The Investors Podcast on iTunes: https://itunes.apple.com/us/podcast/the-investors-podcast/id928933489 Subscribe to The Investors Podcast on Stitcher: https://www.stitcher.com/podcast/theinvestorspodcast/the-investors-podcast?refid=stpr Subscribe to The Investors Podcast on SoundCloud: https://soundcloud.com/theinvestorspodcast Have a question? Get your voice heard on...

Download Stig & Preston's 1 page checklist for finding great stock picks: http://buffettsbooks.com/checklist Subscribe to The Investors Podcast on iTunes: https://itunes.apple.com/us/podcast/the-investors-podcast/id928933489 Subscribe to The Investors Podcast on Stitcher: https://www.stitcher.com/podcast/theinvestorspodcast/the-investors-podcast?refid=stpr Subscribe to The Investors Podcast on SoundCloud: https://soundcloud.com/theinvestorspodcast Have a question? Get your voice...

Download Stig & Preston's 1 page checklist for finding great stock picks: http://buffettsbooks.com/checklist Subscribe to The Investors Podcast on iTunes: https://itunes.apple.com/us/podcast/the-investors-podcast/id928933489 Subscribe to The Investors Podcast on Stitcher: https://www.stitcher.com/podcast/theinvestorspodcast/the-investors-podcast?refid=stpr Subscribe to The Investors Podcast on SoundCloud: https://soundcloud.com/theinvestorspodcast Have a question? Get your voice heard on...

Download Stig & Preston's 1 page checklist for finding great stock picks: http://buffettsbooks.com/checklist Subscribe to The Investors Podcast on iTunes: https://itunes.apple.com/us/podcast/the-investors-podcast/id928933489 Subscribe to The Investors Podcast on Stitcher: https://www.stitcher.com/podcast/theinvestorspodcast/the-investors-podcast?refid=stpr Subscribe to The Investors Podcast on SoundCloud: https://soundcloud.com/theinvestorspodcast Have a question? Get your voice...

I caused a bit of a fuss in my last post regarding MMT and what I believe is an obscure consolidation of government entities in their accounting. But I want to go into this a bit more because it’s useful to understand in a bit more detail. Accounting is a nice way of constructing and deconstructing the financial world so we can better understand it. Part of the way we do that is by looking at the various components of the world in terms of sectors. There are households, corporations,...

I had a good laugh at this Tweet from Jo Michell (who is a very good economist by the way). It seems to be from a UK blog advocating for MMT: Now, I may not be an expert on sexual intercourse, but I am an expert about money creation and so that qualifies me to tell you that, based on this comment, this guy doesn’t know what sexual intercourse is. The simple fact is that MMT does not, definitively does not, describe the existing reality of the monetary system. Let me explain. First, MMT...

Happy new year everyone. I hope it’s off to a bombastic start. Too early for that joke? Okay. Sorry. Anyhow, with the news in Iran and the potential of another war in the Middle East I wanted to discuss what this may or may not mean for portfolios. The media will obviously whip you into a frenzy over this stuff. Remember, their job is to sensationalize everything and keep you tuned in. If the news was honest every day it would be roughly this: “Some assholes did some bad stuff. The...

The stock market was sneaky strong this past year. The MSCI All World Index was up 27% in 2019. The S&P 500 was up 31%. Those are big numbers when you consider that the global stock market averaged a return of about 6% in the last 10 years and 8.5% in the last 15 years. It’s often tempting to look at an environment like the current one and think “gosh, I should have been more aggressive, maybe I should be more aggressive in the future?” Now, this might not be an inappropriate...

I see a growing narrative in some wings of the Democratic party arguing that Capitalism is the cause of all the world’s current ills. This is wrong in a very fundamental way and one which has the potential to hurt the Democratic party’s chances to take back the White House. In a recent article I described how the economy is essentially a bunch of private businesses that create a capital base that we then leverage into a government. Think of the government like a Homeowners Association. The...

I’ve spent a lot of time defending the government on this website. And I’ve also spent a lot of time defending capitalism on this website. To me, they are both good when they work together. Recently, I’ve discussed how this might not be occurring optimally and the political left has pilloried billionaires as the primary culprits. This is true to some degree. And it also taken out of context to some degree. The following things are all true in my opinion: Billionaires are good in the sense...