A Zeitgeist Portfolio

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Every morning, we run the Narrative Machine on the past 24 hours worth of financial media to find the most on-narrative (i.e. interconnected and central) stories in financial media. It’s not a list of best articles or articles we think are most interesting … often far from it.

But for whatever reason these are articles that are representative of some sort of chord that has been struck in Narrative-world.


New Mexico State Investment Council changes target allocations for 2 endowments [Pensions & Investments]

The tobacco fund’s new target allocation reduces broad U.S. equity to 10% from 33%, broad international equity to 10% from 33%, and core fixed income to 10% from 24%. The new tobacco fund allocation increases non-core fixed income to 25% from 10%, real return to 25% from zero, and real estate to 20% from zero.

I don’t know the folks at New Mexico State Investment Council well, although there are a couple of Epsilon Theory subscribers at NMSIC. But I’ll say this … I love what they’re doing here. It’s a very Zeitgeist-aware portfolio shift, and not just a tweak of a few percentage points here and there. This is a big swing!

I’m overdue for writing the final chapter in the Pricing Power series, where we dig into real assets. Here are the first three chapters …

I’m on it.


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The Daily Zeitgeist

Democracy Dies with Dancing

By Rusty Guinn | June 18, 2019 | 0 Comments

There’s a critical, indispensable feature of a free nation we call a free press. And then there’s the meme of free press!. The latter is a pure narrative construction, and a thing well supplied in the DC market.

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The Not-So-Much War

By Rusty Guinn | June 17, 2019 | 0 Comments

A tug-of-war is only a tug-of-war if both sides, y’know, are capable of pulling on the rope.

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Zeitgeist Narrative Map – 6.14.2019

By Rusty Guinn | June 14, 2019 | 1 Comment

1+ Every morning, we run the Narrative Machine on the past 24 hours worth of financial media to find the most on-narrative (i.e. interconnected and central) stories in financial media. It’s not a list of best articles or articles we think are most interesting … often far from it. But this is the map that …

Read moreZeitgeist Narrative Map – 6.14.2019


Victims of Success

By Rusty Guinn | June 14, 2019 | 0 Comments

If you’re going to trade on story and sentiment, more power to you. But over time, the mind naturally searches for justification and credibility for continued ownership of something. Take care when you start to feel that pull.

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Live from Potemkin

By Rusty Guinn | June 14, 2019 | 0 Comments

Sometimes a news article that’s all over the map is just a badly written article. Sometimes it’s like a glitch in the matrix. I think the changing narratives and weakening common knowledge around Big Tech are causing the latter.

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The Most Valuable Commodity I Know

By Ben Hunt | June 13, 2019 | 0 Comments

What’s the most valuable commodity Gordon Gekko knows? Information.

How valuable is Wall Street research? How much information does Wall Street research have? LOL.

MIFID II is making the jump from Europe to the US. Time to polish those sell-side research resumes. As if you weren’t already.

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Jane VanFossen
Member
Jane VanFossen

Ben, your comments on the subject of real assets can’t come too soon.

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