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).

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This is Part 1 of the multi-part Three-Body Alpha series, introduced in Rusty's recent Investing with Icarus note. The Series seeks to explore how the increasing transformation of fundamental and economic data into abstractions may influence strategies for investing — and how it should influence investors accessing them. Read more »

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Investing with Icarus

The allure of a fundamental truth is powerful. Investors are hungry for that kind of clarity about markets, but it doesn’t exist. In the first in a series, Rusty discusses a framework for investing in a time of Icarus. Read more »

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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 »

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Archetypes are everywhere in markets. In part two of why investor behavior is one of the Things that Matter, Rusty expands on the tendency for the temperament and behaviors of investors to coalesce around archetypes. Read more »

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Rusty lays out the perils of playing at diversification instead of actually doing it. Read more »

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Many investors can – and if they are acting as fiduciaries probably ought to – take more risk. Read more »

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Once again, baseball teaches us important life lessons. Or at least value investing lessons. Read more »

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Talking about stocks is fun. But is it productive? Read more »

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We are all active managers, friends. Read more »

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Jubilee!

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