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.
That’s not how it works. That’s not how any of this works. – Esurance “Beatrice” commercial There’s a wonderful commercial in heavy rotation on American television,…
Margaret Bourke-White took this photo of the Garment District in 1930. Every single person on the street is wearing a hat. How did THAT behavior change over time? How did the common knowledge that All Men Wear Hats change?
Answer: the Common Knowledge Game.
1M implied volatility on the VIX fell to an all-time low last week. Generally speaking, this means that options on short-term market volatility increasing have…
I’ve received a lot of questions over the past few weeks about Russia and the Ukraine, and why I don’t include this flashpoint in my…
A trilogy is a pretty abstract notion. You can apply it to almost any three things. – Jonathan Demme Mozart: So then you like it?…
I distributed this Epsilon Theory reading list last summer, but it never made it to the website. Given the volume of requests I receive for…
I started the Epsilon Theory project nine months ago with the publication of a “Manifesto” and an email to a few hundred friends and colleagues.…
Same as it ever was, same as it ever was, same as it ever was, same as it ever was – Talking Heads, “Once in…
One of the things I like to keep my eye on when I’m puzzling out what’s going on in the market are the specific company…
Le roi est mort, vive le roi! – French proclamation as coffin of old king is placed into burial vault of Saint Denis Basilica. The…
Apocalypse Now (1979), based on “Heart of Darkness” by Joseph Conrad Kurtz: Did they say why, Willard, why they want to terminate my command? Willard:…
Two brief observations on incipient shifts in powerful Narratives … First, China. The pleasant charade that recent currency intervention was nothing more than an effort…
The Secret of life is honesty and fair dealing. If you can fake that you’ve got it made. These are my principles, and if you…
Panopticon schematic, 1791 Michel Foucault, 1975 © Camera Press The Panopticon: a new mode of obtaining power of mind over mind, in a quantity hitherto…
Question: Mr. President, a clarification if I may. The people who were blocking the Ukrainian Army units in Crimea were wearing uniforms that strongly resembled…
Two quick Epsilon Theory points before the jobs report tomorrow. First, remember the Goldilocks Narrative of the post-Great Recession Era…slow growth keeps the Fed in play, so…
No man is an Iland, intire of it selfe; Every man is a peece of the Continent, a part of the maine; If a Clod…
Buck Finemann, seventy two years old. Cantankerous old geezer. No-one liked him much, but they allowed him to play poker with them once a week…
Det. Gregory: Is there any other point to which you would wish to draw my attention? Holmes: To the curious incident of the dog in…
Instead of a long-form note this Sunday, I thought I’d write a briefer note in advance of this Friday’s jobs report. I’ll be back next…