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Pragmatic Capitalism

Practical Views on Money, Finance & Life

Understanding Modern Portfolio Construction [New Research]

My newest research paper, Understanding Modern Portfolio Construction, is available on SSRN.  This paper is the culmination of years of work and I consider it to be the most important piece of research I’ve published.

I wrote this paper in much the same way that I wrote my paper, Understanding the Modern Monetary System, however, since I’m not an academic economist, this paper is more along the lines of my professional expertise so it’s a bit more tightly constructed.  My goal with this paper:

  • Provide a basic overview of the history of portfolio construction.
  • Construct a basic understanding of the financial world within the context of asset allocation.
  • Provide a basic framework for an alternative approach to portfolio construction.

I think the most important element of this paper is that you’ll find my theory of finance (this new paper) and theory of economics (my monetary system paper) are highly consistent with one another.  This results in a very consistent and useful worldview when approaching both economics and finance.

In total, the two papers are 99 pages.  If you read just these two papers you probably know more than 95% of the general public about these topics. And the beauty of publishing via SSRN (as opposed to writing a book, which was not that fun) is that it’s all on-line for free.

I hope you find it educational.  If nothing else, print it out and you’ll find one of many uses for it:

  • Effective sleep aid.
  • Highly flammable for those cold nights.
  • Edible depending on the type of paper you print out.

Enjoy and please don’t hesitate to offer feedback if you actually read it.  Thanks in advance.

Cullen Roche

Cullen Roche

Mr. Roche is the Founder of Orcam Financial Group, LLC.Orcam is a financial services firm offering low fee asset management, private advisory, institutional consulting and educational services.Cullen is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.
Cullen Roche

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