Indexing is the Result of Homogeneous Markets, not the Cause
As indexing strategies gain in popularity I am seeing a common selling point from active stock picking fund managers – the idea that more indexing creates...
Author : PRAGMATIC CAPITALISM
Helicopter Money Policy Formulation
The following is a guest post from fellow Monetary Realism contributor JKH An important aspect of helicopter money is just how a central bank would...
Short-Termism and the Olympics – Why the Decathlon is Superior to the Sprint
There is no question that the two biggest stars of the 2016 Summer Olympics were Michael Phelps and Usain Bolt. In a sea of events...
Money – The Window to Understanding the Economy
We live in a monetary economy. That is, unlike a barter system we have created “money” which serves as the medium by which we exchange...
What Does it Mean to be a “Modern” Monetary System?
When I wrote my popular paper on the monetary system (which is now, to my shock, ranked #7 all-time on SSRN) I specifically wrote it...
Ten Attributes of Great Fundamental Investors
Fantastic note here by Michael Mauboussin of Credit Suisse. Mauboussin is the rare fundamental analyst who is both a good analyst and a good communicator....
Do Savers Deserve a Risk Free Return?
Low interest rates have led many people to conclude that savers are being unjustly punished by a lack of interest bearing savings. In this case,...
Everyone Has a Home Bias & No One Should
Here’s an awesome chart from a recent Vanguard research piece: What this chart is showing is that every country has a home bias. So, if...
Yeah, The Fed Didn’t Cause That….
There are all sorts of crazy myths surrounding central banks. Which is strange because once you understand the operational realities of the monetary system you...
Revisiting My “Useless” 2016 Predictions
Well, 2016 is over half way in the books. And since I am a big fan of personal accountability I am going to hold myself personally...