Next ET Live! Event – Today @ 2PM ET

By Rusty Guinn | April 11, 2019 | Comments Off on Next ET Live! Event – Today @ 2PM ET
Posted:

We hope you’ll join us HERE for the next edition of Epsilon Theory Live! on Wednesday, April 24th at 2PM ET. Remember that ET Live! is a subscriber-only event, so if you want to participate with this unique interactive feature, please make sure that you’ve subscribed to either our ET Premium or ET Professional service.

Featured Notes

This is Water

By Ben Hunt | April 17, 2019 | 13 Comments

Time to add a fourth shift in the Zeitgeist: capitalist productivity, now 200+ years old, is becoming capitalist financialization.

Wall Street gets something to sell, management gets stock-based comp, the Fed gets a (very) grateful Wall Street, and the White House gets re-election.

What do YOU get out of financialization? You get to hold up a card that says “Yay, capitalism!”.

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The Epsilon Strategy

By Ben Hunt | March 25, 2019 | 11

We can be better investors. Not by playing the cards we’re dealt any harder. But by playing the other players at the table a lot smarter.

It’s a new technology applied to an old investment strategy. It’s a new way to think about money flows and investor behaviors.

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The Ministry of Rites and the Compassionate Man

By Ben Hunt | March 17, 2019 | 14

“Oh, little Jimmy is going to 20-Years-Ago-This-Was-A-Second-Rate-University? I hear really good things about that school. Congratulations!”

“Thanks! We’re all very pleased. Everyone except my bank account, that is. Hahaha!”

It’s true, everyone is VERY pleased by the current system. Prestige university credentialing is a steam valve … \whispers\ just like elections.

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You Are Here

By Ben Hunt | January 11, 2019 | 27

The greatest risk to your portfolio is a change in the zeitgeist. A change from deflation to inflation. A change from cooperative international games to competitive games. A change from capital markets to political utilities.

I think it’s all happening.

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Most Recent Notes

The Zeitgeist – 4.24.2019

By Ben Hunt | April 24, 2019 | 3 Comments
Posted:

Say what you will about @jack, but he understands the necessary and sufficient condition for being a successful CEO today: create a Wall Street-supported non-GAAP narrative to describe your company’s financial results.

Tired: MAUs
Wired: mDAUs

All this, plus Russell Wilson continues surfing the Zeitgeist like no one else.

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ET Live! – 4.24.2019

By Rusty Guinn | April 24, 2019 | Comments Off on ET Live! – 4.24.2019
Posted:

This content is restricted to subscribers

The Zeitgeist – 4.23.2019

By Ben Hunt | April 23, 2019 | 3 Comments
Posted:

China’s Belt and Road Initiative is back, baby! Just needed a little narrative happy face of “respect for global debt goals” and “promotion of green growth”. That plus multi-billion dollar non-recourse loans at 2% for a high-speed rail to nowhere.

Plus more on Walmart robots, ESG, and of course Free College!

Just another day of you can’t make it up, fresh from the ET Zeitgeist.

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The Zeitgeist – 4.22.2019

By Rusty Guinn | April 22, 2019 | 2 Comments
Posted:

The Monday Zeitgeist today is about companies actually being allowed to go bankrupt, the usual DB/CBK chatter, money flow cartoons, great moments in bad metagame, and a decent little personal finance column.

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The Zeitgeist Weekend Edition – 4.20.2019

By Rusty Guinn | April 20, 2019 | 0 Comments
Posted:

This Weekend Edition is a bit of a downer, but the Zeitgeist is what it is. And the non-financial markets Zeitgeist right now? It’s all about poverty, the spirit of poverty and how people transform our concerns about both into political power.

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The Funnel

By Demonetized | April 19, 2019 | 2 Comments
Posted:

We know what fiat news is: the presentation of opinion as fact. We also know what fiat news looks like: pop on over to Vox and skim a few stories.

But how does fiat news WORK?

New from ET contributor Demonetized, a clear-eyed look at wolf traps and sales funnels.

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The Zeitgeist – 4.19.2019

By Ben Hunt | April 19, 2019 | 2 Comments
Posted:

What Herman Cain would bring to the Fed, what Socrates brings to the MMT debate, what Pinterest and Zoom bring to the IPO market, and what work European PMs bring home when the markets are closed.

All in a day’s work for a Good Friday Zeitgeist.

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The Zeitgeist – 4.18.2019

By Ben Hunt | April 18, 2019 | 4 Comments
Posted:

Turns out that we may not be on the precipice of a global recession after all, that AOC may be pretty good at this politics game, and that parasitic companies enjoy Insane Clown Posse more than most. Also, Bob Pisani reveals CNBC’s noble mission.

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This is Water

By Ben Hunt | April 17, 2019 | 13 Comments
Posted:

Time to add a fourth shift in the Zeitgeist: capitalist productivity, now 200+ years old, is becoming capitalist financialization.

Wall Street gets something to sell, management gets stock-based comp, the Fed gets a (very) grateful Wall Street, and the White House gets re-election.

What do YOU get out of financialization? You get to hold up a card that says “Yay, capitalism!”.

Read more

The Zeitgeist – 4.17.2019

By Rusty Guinn | April 17, 2019 | 1 Comment
Posted:

It’s the Wednesday Zeitgeist, chock full of belied recessions, a little bit of humility, a little bit of YOLO, an expensive investment sold on yield, a less expensive investment sold on yield, slow maybes and a peek into the Widening Gyre.

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The Zeitgeist – 4.16.2019

By Ben Hunt | April 16, 2019 | 2 Comments
Posted:

It’s not even a wall of worry any more. More like tiny little speed hurdles that we set up to clear by a mile. Just another day’s work for the Fiat News machine.

They’re not even pretending anymore.

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Neverland

By Rusty Guinn | April 16, 2019 | 5 Comments
Posted:

Disney is making a play to return to Neverland, a land where valuations are based on establishing market share and dominance of an emerging industry, where the moment you start worrying about how much money you’re making is the moment the narrative breaks. For students of markets and narratives alike, it will be worth watching.

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The Zeitgeist – 4.15.2019

By Rusty Guinn | April 15, 2019 | 9 Comments
Posted:

It’s the Monday Zeitgeist, where we keep the Star Wars image streak alive at 2, celebrate the return of a beloved phrase, laud the arrival of a very dumb phrase, listen to political predictions from economists, and hear a political proposal from a journalist.

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The Zeitgeist Weekend Edition – 4.13.2019

By Rusty Guinn | April 13, 2019 | 1 Comment
Posted:

It’s the Weekend Zeitgeist, where we try to forget about markets for a day or two to see what matters in the rest of the world. This week, it’s robots, the 1980s, self-made men, Star Wars (more than an ACTUAL black hole), Moroccan exceptionalism and the Power of Google.

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The Zeitgeist – 4.12.2019

By Ben Hunt | April 12, 2019 | 4 Comments
Posted:

My father owned a red Corvair almost exactly like this one. He loved that car. Almost died in it, too, when he was t-boned at an intersection on his way to work in Bessemer, Alabama. That was in 1966. I was two years old.

The Boeing 737 MAX is our generation’s Chevy Corvair.

Unsafe At Any Speed.

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Strange Bedfellows and Proxy Wars

By Rusty Guinn | April 12, 2019 | 6 Comments
Posted:

The arrest of Julian Assange presents one of the most fascinating, explainer-laden, Fiat News-driven narrative maps we have seen. Tread carefully in taking what you read about this one at face value, friends.

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Gravity

By Rusty Guinn | April 11, 2019 | 3 Comments
Posted:

The gravity of political polarization is real, and the mass which lies at the base of its well are narratives of existential risk.

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Dick Fuld

The Zeitgeist – 4.11.2019

By Ben Hunt | April 11, 2019 | 0 Comments
Posted:

Today in the Zeitgeist, an HBR article about the “mourning patterns” of Lehman employees. Color me triggered.

If you don’t know what Repo 105 was, you should. If you do know what Repo 105 was, you should find someone who doesn’t and tell them about it.

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Next ET Live! Event – Today @ 2PM ET

By Rusty Guinn | April 11, 2019 | Comments Off on Next ET Live! Event – Today @ 2PM ET
Posted:

We hope you’ll join us HERE for the next edition of Epsilon Theory Live! on Wednesday, April 24th at 2PM ET. Remember that ET Live! is a subscriber-only event, so if you want to participate with this unique interactive feature, please make sure that you’ve subscribed to either our ET Premium or ET Professional service.

The Zeitgeist – 4.10.2019

By Ben Hunt | April 10, 2019 | 4 Comments
Posted:

Wait … an article about Puerto Rico that’s not about tax shelters or bond defaults or crappy local government or Trump idiocy or crypto bros? … an article that’s about entrepreneurship and the sort of small businesses that are the life blood of a vibrant local economy? What the hell, New York Times?

Not to worry, though, there’s plenty of Fiat News and the usual raccoonery here in the rest of the daily Zeitgeist.

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