Gregory H. Ponto

Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country.

Most investors continue to embrace an active investing strategy despite the extensive academic research demonstrating its futility. Market timing or speculating on the next winning stock, fund manager, or investment style are all akin to gambling. Below-market returns in investment portfolios and pension accounts are the result of investors gambling with their hard-earned money. This twelve-step program will put active investors on the road to recovery.

This book grew out of a series of letters to my daughter concerning various things - mostly about money and investing - she was not yet quite ready to hear. Since money is the single most powerful tool we have for navigating this complex world we've created, understanding it is critical.