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Pragmatic Capitalism

Practical Views on Money, Finance & Life

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Big Confusion on “Passive” Investing

strategy

Here’s a new fund filing which is both hilarious and sad.  The ticker symbol is BIGD, which stands for Big Data. The fund will be comprised of big data firms. I am tempted to short such a fund, however, I feel uncomfortable being anything less than long a ticker such as BIGD.¹ In all seriousness,… Read More

Why Is the S&P 500 Approaching All-Time Highs?

macro

Greece is back in the news. There’s a devastating recession in oil. Emerging market turmoil is widespread. The Fed is worried about global growth so much that they won’t raise rates. Earnings are declining. According to our Presidential candidates the economy stinks and America needs a restart. And…the S&P 500 is approaching a new all-time… Read More

Investing is not the Same as Gambling

strategy

It’s the Monday following the second leg of the Triple Crown and a whole bunch of people lost money betting on the Preakness. Like the stock market, the allure of gambling is strong because many people think that having more money will solve most of their problems. And while there are some similarities between investing… Read More

Why Helicopter Drops Would Work

macro

Here’s John Kay in the FT arguing that helicopter drops don’t work. He says: “even if the lucky recipients of the helicopter drop went straight down to the pub to celebrate their good fortune, the publican would return the cash to the banking system by the end of the day, and the notes would end… Read More

Three Things I Think I Think – Hump Day Edition

macro

Sorry for the radio silence over the last week or so. Life and travel got in the way. I’m in NYC this week if any readers happen to see this and enjoy spending time with nerds….Anyhow, here are some things I think I am thinking about:

Would Donald Trump Crash the Stock Market?

strategy

Mark Cuban says a Donald Trump victory would cause a huge stock market correction: “I can say with 100% certainty that there is a really good chance we could see a huge, huge correction,” Hmmm. “really good chance” doesn’t mesh with “100% certainty”, but let’s think this through a bit more. First of all, Trump… Read More