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.
Part 13 of the Notes from the Field series discusses The Narrative Machine, which can help us see the invisible memes that drive our political behaviors. Because you’re smart enough to make up your own damn mind.
Part 2 of the multi-part Three-Body Alpha series, introduced in Rusty’s recent Investing with Icarus note. The Series seeks to explore how the increasing transformation of fundamental and economic data into abstractions may influence strategies for investing — and how it should influence investors accessing them.
Two negative narratives have derailed ebullient markets – Inflation and Trade War. While I think both are here to stay, I’ve put inflation through the Narrative Machine first. The result? Inflation is Coming.
The allure of a fundamental truth is powerful. Investors are hungry for that kind of clarity about markets, but it doesn’t exist. In the first in a series, Rusty discusses a framework for investing in a time of Icarus.
We live in a Cartoon Age, an era not of alienation per Karl Marx, but of alienation per Groucho Marx. What’s the cause, what’s the future, and what do we do about all this? It’s a TL;DR cri de coeur in Part 12 of Epsilon Theory’s Notes from the Field series.