The Mandarin Class
I don't think there's anything illegal in how Fed governors trade their personal accounts.
No, I think it's much worse than that.
Category: In Brief
When Narrative Takes Flight
We find ourselves together now at the stage of the Widening Gyre in which your political identity now determines the reality you wish to accept about …
No Time to Die: China Banks Edition
With $300+ billion of assets, Evergrande is big, but if you want REALLY big, take a look at the balance sheets of Chinese banks.
ET contributor Marc …
How Lucky You Are To Be Alive Right Now
ET friend and contributor David Salem is back!
Here with his Constitution Day address at Middlebury College, David makes the rich tradition of acade…
The Uncontained Spark
There is an uncontained spark in the financial world today, a spark that emerged from the unlikeliest of places, a federal courthouse in Florida.
It'…
Zeroism and the Allocator Status Quo
ET contributor Matthew Edwards pushes back on seven rules that allocators often apply to new managers.
1) We don’t do crypto.
2) We only invest in …
Unanchored
ET contributor Brent Donnelly starts up where he left off, with a new launch of AM/FX and a new riff on the classic ET note, "Snip!".
In the immortal…
Whitestone Bridge
Our true enemies on 9/11 - the Deep State of Saudi Arabia and the Deep State of Pakistan - are our true enemies still.
And we won't defeat them until…
Cursed Knowledge #5: Hot Coffee
The Epsilon Theory podcast is free for everyone to access. You can grab the mp3 file below, or you can subscribe at: Cursed Knowledge is…
Notes from Camp Kotok 2021
ET contributor Brent Donnelly with an end-of-summer compilation of the top--of-mind topics at Camp Kotok!
Prophet of the Pandemic
Sophocles knew it. Dostoevsky knew it.
Disruption to the biological order and disruption to the social order are one and the same.
Afghanistan and the Common Knowledge Game
When the State Department announced on August 12th that it was removing all remaining non-essential personnel from Kabul within 3 days and was conside…
The Afghanistan Narratives
We are in the very early innings of the narrative formation around responsibility for the outcome in Afghanistan. Steel yourselves for weeks of gaslig…
ET Podcast #13 – Wanting
It's the only question that really matters here in the Age of Nudge: why do we want what we want?
A conversation with Luke Burgis, author of "Wantin…
Cursed Knowledge #4: The Olympics
The Epsilon Theory podcast is free for everyone to access. You can grab the mp3 file below, or you can subscribe at: Cursed Knowledge is…
Sauron Remains Undefeated
Here's my take on this weekend's Senate wrangling over the infrastructure bill, and the implications for crypto.
The US Treasury is the Eye of Sauro…
Nudging State, Noble Lies
In the world of Nudge, everyone is an ad man, and the government is just the biggest, baddest ad man of them all.
I'm not so naive as to think this …
Narrative Machine Webinar
The recording of the July 2021, Epsilon Theory webinar about the Narrative Machine.
Cursed Knowledge #3: The Molassacre
The Boston Molassacre was one of the great tragedies of the early 20th century. So why isn't it treated like one?
Ever Grande
The Chinese real estate developer Evergrande is the epitome of Too Big To Fail. It is truly Ever Grande.
So what happens if it does, in fact, fail?