Epsilon Theory In Full

Epsilon Theory In Full


The soul of Epsilon Theory is our long-form content, a library of hundreds of pieces written by Ben, Rusty and others over the course of the last 5+ years. These are the print-and-take-home-for the weekend notes that made Epsilon Theory what it is today.

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 | 0 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.…


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,…

The New TVA

By Ben Hunt | July 23, 2015 | 0 Comments

War is too important to be left to the generals. – Georges Clemenceau (1841 -1929) Competition has been shown to be useful up to a…

1914 is (still) the New Black

By Ben Hunt | July 6, 2015 | 0 Comments

There are decades where nothing happens; and there are weeks where decades happen. – Vladimir Lenin (1870 – 1924)  In 1914, Europe had arrived at…

1914 is the New Black

By Ben Hunt | June 29, 2015 | 0 Comments

Man in Black: All right. Where is the poison? The battle of wits has begun. It ends when you decide and we both drink, and…

Inherent Vice

By Ben Hunt | June 22, 2015 | 0 Comments

Want to get hours of your week as a professional investor back? Want to reduce pointless portfolio activity and bad use of time with clients? Stop predicting games of chicken.

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Two Growth Announcements and One Not So Much

By Ben Hunt | June 10, 2015 | 0 Comments

I’m with you in Rockland where we are great writers on the same dreadful typewriter. – Allen Ginsberg, “Howl” (1956)  Give me a long enough…

Sometimes a Cigar is Just a Cigar

By Ben Hunt | May 22, 2015 | 0 Comments

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