The Epsilon Theory Archive

“History doesn’t repeat itself, but it often rhymes.” Mark Twain said that, or Abraham Lincoln depending on what corner of the internet you find yourself on any given day. Likewise, there are common themes, topics and subjects that run throughout the Epsilon Theory archive. All of our writing is categorized, tagged and organized to be easily accessible, but beware: your search for truth on one matter may very well lead you down any number of rabbit holes (and we hope that it does).


Choose one or multiple criteria to find just the posts you want:


Is Volatility Back?

On this special episode of the Epsilon Theory podcast, we share an excerpt from a conference call we recorded on February 13 discussing our thoughts on the market selloff earlier in the month. Listen »


The Three-Body Portfolio

In a two-body market, the interactions of fundamental data and prices are generally predictable. In a three-body market, the epsilon — investor behaviors in response to narratives — exerts a powerful gravitational force which must be considered when building a portfolio. Read more »


Make America Good Again

On episode 26 of the Epsilon Theory podcast, we welcome back Rusty Guinn, our executive vice president of asset management, to talk about political markets — a topic just as important to Ben as capital markets. Listen »


Failure to Inflate

Ben and his guest, Peter Cecchini, Chief Market Strategist at Cantor Fitzgerald, discuss the complexities inherent in applying the principles of modern monetary policy across all economies, developed or otherwise. Listen »


We’d like to believe that information and analysis can tell us the true value of something but the reality is that investment returns are always and everywhere a behavioral phenomenon. Read more »


The Jukebox Theory

Ben shares his thoughts on the inflation narrative and how to make politics more transparent and engaging. Listen »


Does It Fly, Really?

In our latest podcast Ben and Devin Anderson from Deutsche Bank discuss some of the ubiquitous ideas floating around finance today. Listen »


The endless tweaking, trading and rebalancing of our portfolios takes spot #4 on our list of Things that Don’t Matter. Read more »


1999 v2.0

Terry Pratchett, narrative causality, the French elections and more in Ben's conversation with Brad McMillan, Commonwealth's CIO. Listen »

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