Epsilon Theory Professional

In The Flow

Hello! The page below is a preview of Epsilon Theory content that is only accessible to Epsilon Theory Professional subscribers. To learn more about this content and how to subscribe, please click HERE.

In the Flow – Focus Fields

February 11, 2019

Two distinct market narratives that came into sharper focus last week – Global Growth Slowdown! and Democratic Socialism!. The first was pushed by the usual market Missionaries – the WSJ and the FT and the talking heads on CNBC – and the latter was pushed by the usual political Missionaries – Trump and AOC and Bernie and the rest of the 2020 presidential crowd.

But only one of these narratives makes a long-term difference for your portfolio.

Read more

In the Flow – Hey, Chester!

February 4, 2019

For every historical narrative there is a counter-narrative, and every time history repeats itself, the main narrative gets weaker and the counter-narrative gets stronger.

That’s a problem for Jay Powell, as the counter-narrative of Central Banker Lapdog is getting stronger.

Read more

In the Flow – One Narrative to Rule Them All

January 28, 2019

Last Halloween the hipsters over at Salesforce.com turned their new San Francisco building into a giant Eye of Sauron. I keep waiting for someone to try this with the Federal Reserve’s Eccles Building, but that would be too on-the-nose.

Read more

Narrative Monitors

ET Pro Inflation Monitor

Weimar

We track the prevalence and attention of inflation topics in financial and broadly circulated news sources, including their attachment to narratives around financial markets.

Updated through February 28, 2019. Updated monthly.

ET Central Bank Omnipotence Monitor

Central Bank Omnipotence

We track the prevalence and attention of credibility attached by a wide variety of news sources to central banks and their influence on participants in financial markets.

Updated through February 28, 2019. Updated monthly.

ET Trade and Tariffs Monitor

Trade

We track the attention paid to and sentiment of a various trade and tariff-related topics in a range of news sources, especially with respect to their attachment to financial market narratives.

Updated through February 28, 2019. Updated monthly.

ET US Fiscal Policy Monitor

Fiscal Policy

We track the strength and consistency of narratives about US fiscal policy, including budgets, tax policy and debt.

Updated through February 28, 2019. Updated monthly.

ET Credit Cycle Monitor

Knights Templar Bank

We track the strength of narratives about the credit cycle in general, plus lending, liquidity and other trends in credit markets.

Updated through February 28, 2019. Updated monthly.

In Focus

ET In Focus reports are single-issue topical analyses. They cover investment and portfolio construction topics, issues relating to the businesses of investment management and wealth management, and narrow analyses of the narrative structure and trends on specific issues, companies, sectors, countries or financial markets.

Is ESG Now Part of the Zeitgeist?

March 18, 2019

In this ET Pro In Focus note, we explore the narrative structure of ESG and SRI investing. Our question: is it finally part of the Zeitgeist, or a trend that will continue to come and go?

Read more

How (And How Not) To Raise Money

March 7, 2019

For fund managers and asset management executives, the fundraising question is often the most important and most inscrutable. Understanding how narratives and career risk factors interact with decision-making processes is critically important.

Read more

Every Unhappy Family (Q1 2019 Country Narratives)

February 17, 2019

We introduce a new narrative measure and then put major global equity markets under the narrative microscope in Q1 2019.

Read more