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Every day, Epsilon Theory runs the world's financial news through natural language processing-based cluster analysis to identify the most on-narrative stories. We scan for those with the most similarity to all other stories as well as those with the most interconnectivity to multiple different key topics.

Food Innovation Meets Financial Innovation

By Rusty Guinn | August 21, 2019 | 3 Comments

Markets are boring. Hey, what if we securitized wokeness?

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Frauds and Traitors

By Ben Hunt | August 16, 2019 | 2 Comments

Throwing words like “Fraud!” and “Traitor!” around so casually … it doesn’t reveal the true frauds and the true traitors.

It makes it easier for them to hide.

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When Potato Salad Goes Bad

By Ben Hunt | August 15, 2019 | 4 Comments

On Tuesday, the Macy’s narrative was “I think they can make their comps.”

On Wednesday, the Macy’s narrative was “I think they can cover their dividend.”

This is what it means for a narrative to go bad. This is what it means for a story to break.

And when a story breaks, so does the stock. Not just for a little while, but for a loooong time.

Just ask GE.

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A Cartoon in Three Parts

By Rusty Guinn | August 8, 2019 | 2 Comments

Cartoons are not evil. And yet they are the engine behind the Long Now, and very much at the center of our financial Zeitgeist. What is a clear eyed, full-hearted investor and citizen to do?

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The Last Chance

By Rusty Guinn | August 7, 2019 | 6 Comments

You want scarcity? Access to the upper echelons of high society? Well, say no more. It’s your very last chance to buy this most special, most fantastical, most legendary, most unattainable of whiskies.

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Are You Sweet Talking Me?

By Ben Hunt | August 6, 2019 | 4 Comments

It’s my favorite part of any Batman movie … that scene where the henchman pays a visit to the crazed supervillain – the Joker is the gold standard here – and you just know that the meeting is about to go terribly, terribly awry for the thug.

It’s a funny scene in a movie.

It’s a crappy way to run a country.

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The Donkey of Guizhou

By Ben Hunt | August 5, 2019 | 7 Comments

My point in relating the fable of the Donkey of Guizhou is not that I believe China is the tiger and the United States is the donkey in our current trade-war-going-to-currency-war.

My point in relating the fable of the Donkey of Guizhou is not that I believe the current United States president is a braying donkey in his “easy to win” trade-war-going-to-currency-war.

I mean … I do, but that’s not my point.

My point is that Chinese political leadership believes that they are the tiger and the current United States president is a braying donkey.

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Threat Display

By Rusty Guinn | August 2, 2019 | 1 Comment

No matter what kind of game you’re playing, never mistake a threat display for a fundamental transformation or escalation of the game. The China Trade War is STILL a game of chicken.

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The Joy of Fiat News

By Rusty Guinn | August 1, 2019 | 7 Comments

Everybody does Fiat News. But some people get it deep in their soul. A lot of those people work at a particular paper in New York.

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Children of a Lesser Narrative

By Rusty Guinn | July 29, 2019 | 3 Comments

Perhaps there is an emerging and cohesive narrative around the zombiefication effects of structurally low interest rates. As much as we’d like this to be the case, we think it has yet to really register.

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We’re All MMT’ers Now

By Ben Hunt | July 25, 2019 | 10 Comments

If Trump is reelected in 2020, I think he pushes forward a $2 TRILLION bond issuance that is fully or partially monetized by the Fed. They’ll be called Infrastructure Bonds.

If a Democrat is elected in 2020, I think she or he pushes forward a $2 TRILLION bond issuance that is fully or partially monetized by the Fed. They’ll be called Green Bonds.

We’re all MMT’ers now.

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I’m Not a Raccoon! I’m the Lone Ranger!

By Ben Hunt | July 22, 2019 | 11 Comments

Price drives the transaction volumes of non-cash-flowing, non-productive things. Not the other way around.

There are prominent people at the intersection of Wall Street and crypto who know this to be true – who know that the “Yay, network effects!” narrative is BS when it comes to Bitcoin – but who promote the narrative anyway.

Why? Because they know that it’s narrative – even false narrative – that DOES drive the price.

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The Only Winning Move

By Rusty Guinn | July 19, 2019 | 11 Comments

It’s privacy and big tech again in today’s Zeitgeist, which is all about mutually assured surveillance. And for Epsilon Theory, it hits home. I think it will hit home for you, too.

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We’re Gonna Need a Bigger Boat

By Ben Hunt | July 15, 2019 | 0 Comments

Financialization is not a mean-reverting phenomenon. It’s too good of a gravy train for Wall Street, corporate management and the White House to stop now. So they won’t. Like any self-respecting Great White shark, the Nudging State and the Nudging Oligarchy never stop swimming. They never stop eating.

Want to survive these financialized waters if you’re potential shark food? You’re gonna need a bigger boat.

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When Did You Stop Beating Your Wife?

By Ben Hunt | July 12, 2019 | 1 Comment

“De Blasio’s ‘pay parity’ hypocrisy” is a feature article in today’s NY Post, and a central article in today’s media Zeitgeist.

Dig a little deeper into the “scandal”, and you learn that the “evidence” is complete horseshit.

It’s an article specifically designed to manipulate someone like me … someone who is VERY predisposed to believe the worst about Bill de Blasio because I dislike his politics SO MUCH.

It’s a rage engagement, one of two primary forms of Fiat News used to win the Game of You.

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The Upside Down

By Ben Hunt | July 9, 2019 | 1 Comment

Everything is topsy-turvy in the Upside Down of Stranger Things. That’s the Big Baddie in the picture above, known as the Mind Flayer.

Financial media is a Mind Flayer, too, especially when it comes to coverage of crypto and tech companies.

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Raking it in

By Rusty Guinn | July 8, 2019 | 0 Comments

A few months ago, we noted how important it had become for public figures and corporations to control their own cartoon, lest someone control it for them. Well, now that advice has itself become the narrative. Don’t say you weren’t warned.

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Here We Go Again

By Ben Hunt | July 2, 2019 | 1 Comment

“You just recently hours ago met with the Chinese president, Xi Jinping,” Carlson said. “Are you closer, do you think after that meeting, to a trade deal?”

“I think so,” Trump replied. “We had a very good meeting. He wants to make a deal. I want to make a deal. Very big deal, probably, I guess you’d say the largest deal ever made of any kind, not only trade.”

He just can’t help himself. And neither can we.

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The Solution To The Fintech IPO Shortage

By Rusty Guinn | July 1, 2019 | 0 Comments

There’s a narrative that exists in Fintech that isn’t really present in most other early stage technology businesses. It defines why they’re different, who succeeds and who fails at getting to a liquidity event and a long-term growth trajectory.

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Riding the Cyclone

By Ben Hunt | June 28, 2019 | 2 Comments

The rollercoaster nature of Bitcoin is a feature, not a bug.

The price of Bitcoin, like the price of any great work of experiential or performance art, is entirely based on narratives. The price of Bitcoin is entirely based on how these narratives make us FEEL.

Gold, too.

It’s time to see what the Narrative Machine can tell us about the stories that determine the price of Bitcoin and gold.

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