Pragmatic Capitalism

Practical Views on Money, Finance & Life

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The Failing Pursuit of the Truth…

A little over 8 years ago I started writing this blog about the financial crisis. The website became surprisingly popular and within a few months was generating millions of page views per month. It was a scary time and I noticed an obvious trend in my writing – writing about scary things attracted a lot more… Read More

Have We Reached Peak Robo Advisor?

The news of an executive reshuffling at WealthFront comes at an interesting juncture for the Robo Advisory space. With growth slowing for some of the main players and more big names entering the game, it’s worth considering if we’ve seen peak robo advisor? My view has always been the same – robo advisors are mostly… Read More

Why I Never Vote for One Political Party

The US political system is designed around one simple concept – compromise. Our constitutional republic was constructed with many checks and balances intended to keep one political party from gaining too much power. This design ensured that the USA was not a simple democracy with majority rule as the Founding Fathers feared tyranny of the majority… Read More

Obama’s Great Economic Blunder

President Obama inherited an economic disaster. And since then the US economy has made a huge rebound. Yeah, it has been a bit underwhelming as growth has been somewhat sluggish, but we’ve been growing and we’ve recovered all of the jobs we lost during the crisis. The stock market has more than tripled and Americans are… Read More

The Pitfalls of the Passive Investing Marketing Pitch

Here’s a crazy headline from Reuters this morning: Largest exodus in five years hits U.S.-based stock mutual funds: ICI This is what most people will describe as the migration from “active” to “passive”. In other words, index funds are taking the place of more active stock picking funds. Of course, regular readers know there’s no such thing as… Read More

Three Things I Think I Think – Weekend Edition

Here are some things I think I am thinking about: 1 – The Department of Labor’s Fiduciary Rule is Already Working. There was a bit of an uproar this week when Skybridge Capital’s Anthony Scaramucci said that Donald Trump would repeal the Department of Labor’s new fiduciary rule arguing that it’s nothing more than another onerous… Read More

The Biggest Risk of a Clinton Presidency

Hillary Clinton will be a one term President. The reason I say this is because I suspect that her economic plan will not be very stimulative and I think that four more years of weak economic growth will be intolerable. And the main driver of my thinking here is deeply rooted in Bill Clinton’s presidency. Back… Read More