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 Unbearable Over-Determination of Oil

By Ben Hunt | November 24, 2014 | 0 Comments

Jett Rink: Everybody thought I had a duster. Y’all thought ol’ Spindletop Burke and Burnett was all the oil there was, didn’t ya? Well, I’m…

Mike Tyson: Master Game Theorist

By Ben Hunt | November 6, 2014 | 0 Comments

Everyone has a plan until they get hit in the mouth. – Mike Tyson My long-term strategy turned into a 12-hour strategy. – “Survivor” contestant…

Wherefore Art Thou, Marcus Welby?

By Ben Hunt | October 30, 2014 | 0 Comments

Seek not the favor of the multitude; it is seldom got by honest and lawful means. But seek the testimony of few; and number not…

Calvin the Super Genius

By Ben Hunt | October 14, 2014 | 0 Comments

People think it must be fun to be a super genius, but they don’t realize how hard it is to put up with all the…

Hey Spike

By Ben Hunt | October 9, 2014 | 0 Comments

The strong do what they can, while the weak suffer what they must. — Thucydides, “The History of the Peloponnesian War” (395 BC) Global growth…

Going Gray

By Ben Hunt | October 1, 2014 | 0 Comments

Everything under the sun is in chaos. The situation is excellent. – Mao Zedong (1893 – 1976) Forget it, Jake. It’s Chinatown. – Chinatown (1974)…

Best of List

By Ben Hunt | September 26, 2014 | 0 Comments

I’ll have a new full-length Epsilon Theory note out early next week (“Going Gray”), but wanted to pass along two background points. First, a replay…

Finest Worksong

By Ben Hunt | September 15, 2014 | 0 Comments

Take your instinct by the reinsYou’d better best to rearrangeWhat we want and what we needHas been confused, been confused– REM, “Finest Worksong” (1987) The…

The Game of Thrones and the Game of Markets

By Ben Hunt | September 11, 2014 | 0 Comments

Two items for the mid-week. First, an invitation to attend a Salient Webinar I’ll be presenting next Thursday, September 18th at 2pm ET, titled: “The Game…

The Ministry of Markets

By Ben Hunt | September 8, 2014 | 0 Comments

– Actual conversation as I left a client meeting with a Salient colleague last Friday and we checked our phones… Colleague: Wow, looks like the…

The Name of the Rose

By Ben Hunt | September 1, 2014 | 0 Comments

If names be not correct, language is not in accordance with the truth of things.  ― Confucius, “The Analects of Confucius” (551 – 479 BC)…

An Ice Bucket Dilemma

By Ben Hunt | August 25, 2014 | 0 Comments

Something on the lighter side from Epsilon Theory today, as summer winds downs here in the last week of August. Most of us have seen videos galore…

One Little Old Russian Convoy

By Ben Hunt | August 15, 2014 | 0 Comments

You know what I’ve noticed? Nobody panics when things go “according to plan”. Even if the plan is horrifying. If, tomorrow, I tell the press…

Here We Go Again

By Ben Hunt | August 8, 2014 | 0 Comments

From an Epsilon Theory perspective, the scariest, most market risk-creating event of the past 48 hours had nothing to do with Iraq, nothing to do…

Fear and Loathing on the Marketing Trail, 2014

By Ben Hunt | August 5, 2014 | 0 Comments

I shared a dark suspicion that the life we were leading was a lost cause, that we were all actors, kidding ourselves along on a…

Watching the Narratives

By Ben Hunt | August 1, 2014 | 0 Comments

You think you’re alone until you realize you’re in it. Now fear is here to stay. Love is here for a visit. – Elvis Costello,…

Stalking Horse

By Ben Hunt | July 21, 2014 | 0 Comments

[Jeremiah and Bear Claw hunt elk] Jeremiah: Wind’s right, but he’ll just run soon as we step out of these trees. Bear Claw: Trick to…

The Red King

By Ben Hunt | July 14, 2014 | 2 Comments

“He’s dreaming now,” said Tweedledee, “and what do you think he’s dreaming about?” Alice said, “Nobody can guess that.” “Why, about you!” Tweedledee exclaimed, clapping…

The Donkey of Guizhou

By Ben Hunt | July 7, 2014 | 0 Comments

There were no donkeys in Guizhou until an eccentric took one there by boat; but finding no use for it he set it loose in…

The Dude Abides: China in the Golden Age of Central Bankers

By Ben Hunt | July 1, 2014 | 1 Comment

Today, however, the Chinese State faces two existential threats, each stemming from or accelerated by the Great Recession and Western policy responses to that crisis of market confidence.

First, QE and other “emergency” Western monetary policies of the past five years threaten the grand political unification of Deng Xiaoping from without. 

Second, massive wealth inequality and concentration driven largely by those same monetary policies threaten it from within.

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