All Epsilon Theory Content

All Epsilon Theory Content

 

Everything we have published at Epsilon Theory since 2013, an archive of more than 1,000 evergreen notes.

The Narrative Fix Is In

By Ben Hunt | March 11, 2016 | 0 Comments

A quick email to Epsilon Theory readers on what’s happening in Europe, because we’ve seen this movie before. On August 2, 2012 Mario Draghi gave…

Welcome to the Jungle

By Ben Hunt | March 1, 2016 | 0 Comments

Zero-sum, Elliot. You’re playing a game you already lost. You know I’m right. – “Mr. Robot” (2015) You can have anything you want  But you…

The Silver Age of the Central Banker

By Ben Hunt | February 19, 2016 | 0 Comments

We all sing along But the notes are wrong – Matt & Kim, “Get It” (2015) The strong do what they will, and the weak…

Snikt

By Ben Hunt | February 9, 2016 | 0 Comments

As longtime Epsilon Theory readers know, I’m a big comic book fan. One of the joys of a comic done well is the effective representation…

Rewardless Risk

By Ben Hunt | February 1, 2016 | 0 Comments

Faramir: Then farewell! But if I should return, think better of me. Denethor: That depends on the manner of your return. – J.R.R. Tolkien “The…

You Can Either Surf, or You Can Fight

By Ben Hunt | January 14, 2016 | 0 Comments

Kilgore: Smell that? You smell that? Lance: What? Kilgore: Napalm, son.  Nothing else in the world smells like that. – Apocalypse Now (1979) Hello, hello, hello,…

The China Narrative That Really Matters

By Ben Hunt | January 7, 2016 | 0 Comments

I’m a China bull, let’s get that out of the way first. But like anything connected with the global industrial and commodity complex today, from…

Epsilon Theory State of the Union

By Ben Hunt | December 30, 2015 | 0 Comments

For the last six months I’ve been trying to figure out how to incorporate reader correspondence into Epsilon Theory. We’ve reached a point of both…

Storm Warning

By Ben Hunt | December 14, 2015 | 0 Comments

Unfortunately for mariners, the total amount of wave energy in a storm does not rise linearly with wind speed, but to its fourth power. The…

I Know It Was You, Fredo

By Ben Hunt | December 8, 2015 | 0 Comments

Sen. Geary: Hey, Freddie, where did you find this place? Fredo Corleone: Johnny Ola told me about this place. He brought me here. I didn’t…

Two Discoveries

By Ben Hunt | November 19, 2015 | 0 Comments

The world made two discoveries last week. Everyone is aware of the first discovery – that ISIS is not “a junior varsity team” but an…

The Andromeda Strain

By Ben Hunt | November 12, 2015 | 2 Comments

Briefly stated, the Gell-Mann Amnesia effect is as follows. You open the newspaper to an article on some subject you know well. In Murray’s case,…

Funny How?

By Ben Hunt | October 28, 2015 | 0 Comments

Henry Hill: You’re a pistol, you’re really funny. You’re really funny. Tommy DeVito: What do you mean I’m funny? Henry Hill: It’s funny, you know.…

Rounders

By Ben Hunt | September 30, 2015 | 1 Comment

Mike McDermott: In “Confessions of a Winning Poker Player,” Jack King said, “Few players recall big pots they have won, strange as it seems, but…

One MILLION Dollars

By Ben Hunt | September 15, 2015 | 0 Comments

Dr. Evil: Gentlemen, it has come to my attention that a breakaway Russian Republic called Kreplachistan will be transferring a nuclear warhead to the United…

Season of the Glitch

By Ben Hunt | September 3, 2015 | 0 Comments

When I look over my shoulder What do you think I see? Some other cat lookin’ over His shoulder at me. – Donovan, “Season of…

When the Story Breaks

By Ben Hunt | August 25, 2015 | 0 Comments

The Three Types of Fear: The Gross-out: the sight of a severed head tumbling down a flight of stairs. It’s when the lights go out…

Breaking Bad

By Ben Hunt | August 19, 2015 | 0 Comments

Jesse: And why’d you go and tell her I was selling you weed? Walt: Because somehow it seemed preferable to admitting that I cook crystal…

Actually Maybe Not So Excellent

By Ben Hunt | August 11, 2015 | 0 Comments

Everything under heaven is in chaos; the situation is excellent. ― Mao Zedong (1893 – 1976) A quick email on China’s currency devaluation last night.…

“Suddenly, Last Summer”

By Ben Hunt | July 29, 2015 | 0 Comments

A quick Epsilon Theory email and a quick announcement. Announcement first. I’ll be giving a 1-hour webcast on Risk Premia strategies next Tuesday, August 4th,…