Cullen’s New Book

He’s been a bit modest about it, but Cullen has written a book which looks dang interesting:

Pragmatic Capitalism: What Every Investor Needs to Know About Money and Finance

I don’t have my copy yet, so I can’t do a full review. Cullen has run an investment advisory for the last several years, and this book is about investing.

Here is part of the blurb:

“In Pragmatic Capitalism, Cullen Roche explores how our global economy works and why it is more important now than ever for investors to understand macroeconomics.”

I fully agree with this – investing today requires a solid understanding on how the macro economy works. I suspect Cullen does not think most modern macro models are very useful. Rather, he wants to use a stock-flow oriented approach to thinking through the consequences of those national and global stocks and flows.

If you are a fan of Cullen – like I am – You know what to do: Go buy it!

 

 

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beowulf
2 years 9 months ago

“Indeed! Montier, Lavoie, and Galbraith in particular.”

Yeah, a smart bunch. Jamie Galbraith needs no introduction, that guy gets it (my favorite JG story was the time he warned Obama that the 2009 stimulus package would be small, this was in the summer of 2008!). Marc Lavoie of course was Wynne Godley’s co-author on Monetary Economics, a great book that the rest of economics field has yet to catch up with. As for James Montier, his work on behavioral economics is fascinating. I have met several people (most recently, just a couple months ago) who’ve changed how they live their lives based on what he’s written about the hedonic treadmill (short version, buying experiences a better use of your time and money than buying things).
http://www.independent.ie/unsorted/features/unhappy-thats-rich-26399431.html

Guest
2 years 9 months ago

Thanks guys. I put a big effort into it and the people at Palgrave did a tremendous job. I’m so thankful to everyone who has supported the project and especially the MR guys who have helped in so many ways. Here’s to hoping that someone finds it useful!

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Art
2 years 9 months ago

Heavyweight blurbs on that dust jacket!

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JGF
2 years 9 months ago

Indeed! Montier, Lavoie, and Galbraith in particular.

I’ll be purchasing a copy.

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beowulf
2 years 9 months ago
Cullen’s book isn’t out yet but Amazon does have up the back cover blurbs. “It has never before been more crucial for investors to understand the way our modern monetary system affects the capital markets. Huge fortunes have been made in recent years as a direct consequence of this awareness, billions have been lost by those who’ve failed to make the right connections. With Pragmatic Capitalism, Roche has written the definitive book on the topic–investors of all experience levels are advised to read this to get up to speed.”—Joshua M. Brown, author, Backstage Wall Street, The Reformed Broker blog, and on-air contributor to CNBC “Pragmatic Capitalism takes an ambitious and engaging tear through our often misguided perceptions about markets, money and behavior. Cullen brings investors back to reality by smartly forcing a no nonsense gut check. Ignore his wisdom, and life is harder.”—Michael W. Covel, President, Trend Following “Cullen Roche explodes all the myths that might hurt the performance of small or big investors in the financial markets. He explains in simple terms why investors can rely on neither mainstream macroeconomic theory nor the efficient market hypothesis. He shows how the monetary system truly works, such as the likely impact of public budget deficits or quantitative easing on price inflation and interest rates.”—Marc Lavoie, Professor of Econonics, University of Ottawa “Chapters 7 and 8 should be required reading for all investors, economists and politicians (and anyone else wanting to understand the macroeconomic system). Cullen has done the world a great (and rare) service by seeking to talk about the economy as it actually is, rather than how it should be.”—James Montier, Analyst, GMO and author of The Little Book of Behavioural Investing “In Pragmatic Capitalism, Roche combines sensible advice for investors with a lucid primer on the role of money,… Read more »
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