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

Cullen Roche. Palgrave Macmillan, $28 (256) ISBN 978-1-137-27931-6
In friendly, clear prose, financial consultant Roche introduces the macroeconomic principles that readers need to know as they venture into the world of investing. Roche explains basic concepts: the difference between saving and investing, how to understand a corporate balance sheet, and the function of the Federal Reserve. He is fond of claiming to dispel widely held myths—for example, the stock market does not produce the level of returns most people think. (A few of the myths he debunks seem curious choices; post-Great Recession, does anyone believe that “economists have all the economic answers,” or that owning a house is a great investment?) Though the book is more explanatory than how-to, Roche cautions against paying high fees, and gives tips for picking a money manager. In one of the most valuable chapters, an overview of behavioral finance, Roche urges readers to look beyond specific financial assets and instead focus on an investing process. A very good suggested reading list rounds out the book. This fine resource, which focuses on the larger picture more than most personal finance magazines and blogs do, would be a good addition to individual investors’ libraries and would make a savvy gift for recent graduates. (July)
Reviewed on: 04/14/2014
Release date: 07/08/2014
Genre: Nonfiction
Ebook - 256 pages - 978-1-137-43806-5
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