Pragmatic Capitalism

Practical Views on Money, Finance & Life

‘Myth Busting’

Beware the Macro Value Trap


I’ve discussed my general disdain for the idea of “value investing” at some length (see here and here), but it’s worth reiterating at times because it’s such a common theme in the investment world. “Value investing” is generally an approach that is applied to stock picking, but has garnered increasing attention in the macro world… Read More

The 5 Best Things I Wrote About in 2014

I’ve written an embarrassing number of posts on this website over the last 6 years. Most of them probably aren’t all that useful, but every once in a world this blind squirrel catches a nut. Here are five of the more influential and popular things I wrote about this year: 1.  Pragmatic Capitalism: What Every Investor… Read More

The Myth of Passive Investing Begins to Unravel….


You know an idea is starting to go mainstream in the investment world when it hits the pages of the Wall Street Journal.  I have been harping endlessly this year about how important it is to understand that passive investing is a myth and a marketing tale.  And today, we see this post by Josh… Read More

Putting the Performance of Gold in Perspective


My comments about gold during the RT interview with Peter Schiff made a lot of people upset.  I’ve received a number of emails, angry comments and forum posts.  One of the common responses is to highlight the past performance of gold as a justification for various arguments about the positive aspects of gold. To begin with,… Read More

William Vickrey’s 15 Economic Myths Debunked


This is an oldie but a goodie.  William Vickrey was a Canadian economist and Nobel Laureate.   He was well known for being critical of most things out of the Chicago School of Economics.  This piece on 15 economic fallacies has been largely ignored, but the lessons are important and certainly as relevant today as… Read More