Pragmatic Capitalism

Practical Views on Money & Finance

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Why do We Care About High Hedge Fund Manager Incomes?

Cliff Asness and Matt Levine have smart articles critiquing the article in the NY Times about hedge fund manager pay in 2014. Cliff and Matt note that the NY Times article is excessively critical and intentionally paints the fund managers in a negative light. Specifically, much of the income generated from these managers is from… Read More

No, The Inflation From QE is not Inevitable

Over the course of the last 7 years there have been a series of excuses for why bad inflation predictions turned out to be bad. The most prominent excuse is that the bad inflation predictions weren’t wrong, but merely haven’t been right just yet. This is a classic move in economics. If you want to ensure… Read More

Are There Too Many Buffett Disciples?

It’s estimated that more than 40,000 people pack the CenturyLink arena in Omaha to hear what Buffett and Munger have to say at the Woodstock of Capitalism. Every year I read about more and more value investing groups and panels at this event that bring together some of the brightest minds in finance to share ideas and their process.