Pragmatic Capitalism: What Every Investor Needs to Know About Money and Finance
Roche, financial consultant and blogger, aims to offer a sensible framework for considering money, finance, and economics in our interconnected macroeconomic world and presents his principles and understandings of the global financial system to help us invest, save, and participate within this changing system. The author explains the new macroeconomy and how it is changing portfolios, including commentary on understanding risk, setting realistic goals, having realistic expectations, and learning important guidelines for picking active managers. He defines the field of behavioral finance as “the study of understanding the economy through the psychologically driven actions of its participants.” Learning about ourselves and how we and others think is important preparation for participants, and our worst enemy in the financial world can be our human emotions. Roche shares lessons from his investing experience, which are never let emotions drive your decision-making process, never participate in what you don’t understand, mistakes will be made and always learn from them, and hope is not a strategy. This challenging, thought-provoking book offers valuable information. --Mary Whaley