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Pragmatic Capitalism

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Thinking About the Great Normalization

macro

There’s a lot of talk these days about how bad the economy is and how we seem to be in a state of permanently low growth. But it’s amazing what a macro view of the world will do for you because it shows us that a lot of this could just be recency bias at… Read More

Janet Yellen (Might Have) Nailed It*

macro

Coming into 2016 it looked like there was an increasingly high chance that the weakness in emerging markets posed a serious threat to the US economy. I repeatedly said that the Fed would be irrational to raise rates based on the following: The risk with rate hikes is creating an extreme divergence in global policy… Read More

Three Things I Think I Think – Fixing Stuff Edition

macro

The weekend is right around the corner. I’ll be in Las Vegas with a group of crazy overworked men from New York most likely riding bikes and reading poetry. I don’t particularly like poetry (or rather, I’m no good at it) so my odds of survival are relatively low. If this is our last interaction… Read More

Is Your Adviser a Fiduciary?

opinion

The new fiduciary standard rule has been all the rage this week on Wall Street. This new rule set out guidelines by which financial advisers must act in the best interest of their clients. Unfortunately, the new rule looks more like a lot of talk and little effective action. The main problem with giving financial… Read More

Three Things I Think I Think – Hump Day Edition

macro

Okay people. Just 2.5 more days and we’re there. You can make it….In the meantime, here are some things I think I am thinking about: 1 – Why Bull Markets are Hated.  Here’s a great piece from Josh Brown about bull markets and why they’re so hated.  The sad reality of the financial markets is… Read More

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