In tangible terms, I’m not sure that Michael Cohen’s flip on DJT has done much to change anything, as much as the left would like it do. From a Narrative perspective, however, it is a big deal.
In which we reference an interesting article from Colin Woodward arguing against Common Knowledge of the rural/urban divide in the United States.
We write about the Common Knowledge Game a lot in Epsilon Theory, because it’s the central game of crowds and narratives.
Common knowledge is something that we all believe everyone else believes.
In Part 1 of his Notes from the Road series, Rusty takes us to Ireland. There he begins an exploration of path-dependence and priors in our thinking as investors and citizens.
Well, you know you’ve really made it in this business when Grant Williams shows up on your doorstep with his crew. What an honor to…
Part 1 of a three-part series on what it means to have a polarized electorate and a monolithic market. Today’s note: the Age of Ridiculousness and the decline and fall of the American Empire.
Part 3 of the Three-Body Alpha series, written for anyone puzzled by value’s underperformance over the past NINE YEARS. Systematic value still works in markets warped by the Three-Body Problem, but works differently.
MLK Day reminds us of the foundations of a UNITED States of America, a reminder that has never been more important to take into our hearts.
It’s not too late, you know. We can still find that unifying narrative of what America can – and should – mean.
Investing requires mental toughness, but it doesn’t require us to pretend that we — or our colleagues — are invincible. More often, it instead requires us to acknowledge our weakness.
Many of the memes that drive our political behaviors inherently push us toward Competitive Games and tribalism. Resisting these memes means losing both arguments and credibility – and we have to be willing to do both.