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Reinventing the Financial System

By Marc Rubinstein | June 15, 2021 | 4 Comments

If you’re like me, you’ve been put off from digging deeper into DeFi by the terrible signal-to-noise ratio of anything crypto-related on the interwebs. That’s why I found this DeFi primer (using Maker DAO as a specific example) by ET contributor and banking analyst Marc Rubinstein to be so fantastic.

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Why Am I Reading This Now? 04.08.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Why Am I Reading This Now? 03.18.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Why Am I Reading This Now? 03.11.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Why Am I Reading This Now? 03.04.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Why Am I Reading This Now? 02.26.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



ZG-item-cap-black

Why Am I Reading This Now? 04.08.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Why Am I Reading This Now? 03.18.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Recent Notes

The Narrative Fix Is In

By Ben Hunt | March 11, 2016

A quick email to Epsilon Theory readers on what’s happening in Europe, because we’ve seen this movie before. On August 2, 2012 Mario Draghi gave…

Welcome to the Jungle

By Ben Hunt | March 1, 2016

Zero-sum, Elliot. You’re playing a game you already lost. You know I’m right. – “Mr. Robot” (2015) You can have anything you want  But you…

The Silver Age of the Central Banker

By Ben Hunt | February 19, 2016

We all sing along But the notes are wrong – Matt & Kim, “Get It” (2015) The strong do what they will, and the weak…

Snikt

By Ben Hunt | February 9, 2016

As longtime Epsilon Theory readers know, I’m a big comic book fan. One of the joys of a comic done well is the effective representation…

Rewardless Risk

By Ben Hunt | February 1, 2016

Faramir: Then farewell! But if I should return, think better of me. Denethor: That depends on the manner of your return. – J.R.R. Tolkien “The…

You Can Either Surf, or You Can Fight

By Ben Hunt | January 14, 2016

Kilgore: Smell that? You smell that? Lance: What? Kilgore: Napalm, son.  Nothing else in the world smells like that. – Apocalypse Now (1979) Hello, hello, hello,…

The China Narrative That Really Matters

By Ben Hunt | January 7, 2016

I’m a China bull, let’s get that out of the way first. But like anything connected with the global industrial and commodity complex today, from…

Epsilon Theory State of the Union

By Ben Hunt | December 30, 2015

For the last six months I’ve been trying to figure out how to incorporate reader correspondence into Epsilon Theory. We’ve reached a point of both…

Storm Warning

By Ben Hunt | December 14, 2015

Unfortunately for mariners, the total amount of wave energy in a storm does not rise linearly with wind speed, but to its fourth power. The…

I Know It Was You, Fredo

By Ben Hunt | December 8, 2015

Sen. Geary: Hey, Freddie, where did you find this place? Fredo Corleone: Johnny Ola told me about this place. He brought me here. I didn’t…

Two Discoveries

By Ben Hunt | November 19, 2015

The world made two discoveries last week. Everyone is aware of the first discovery – that ISIS is not “a junior varsity team” but an…

The Andromeda Strain

By Ben Hunt | November 12, 2015

Briefly stated, the Gell-Mann Amnesia effect is as follows. You open the newspaper to an article on some subject you know well. In Murray’s case,…

Funny How?

By Ben Hunt | October 28, 2015

Henry Hill: You’re a pistol, you’re really funny. You’re really funny. Tommy DeVito: What do you mean I’m funny? Henry Hill: It’s funny, you know.…

Rounders

By Ben Hunt | September 30, 2015

Mike McDermott: In “Confessions of a Winning Poker Player,” Jack King said, “Few players recall big pots they have won, strange as it seems, but…

One MILLION Dollars

By Ben Hunt | September 15, 2015

Dr. Evil: Gentlemen, it has come to my attention that a breakaway Russian Republic called Kreplachistan will be transferring a nuclear warhead to the United…

Season of the Glitch

By Ben Hunt | September 3, 2015

When I look over my shoulder What do you think I see? Some other cat lookin’ over His shoulder at me. – Donovan, “Season of…

When the Story Breaks

By Ben Hunt | August 25, 2015

The Three Types of Fear: The Gross-out: the sight of a severed head tumbling down a flight of stairs. It’s when the lights go out…

Breaking Bad

By Ben Hunt | August 19, 2015

Jesse: And why’d you go and tell her I was selling you weed? Walt: Because somehow it seemed preferable to admitting that I cook crystal…

Actually Maybe Not So Excellent

By Ben Hunt | August 11, 2015

Everything under heaven is in chaos; the situation is excellent. ― Mao Zedong (1893 – 1976) A quick email on China’s currency devaluation last night.…

“Suddenly, Last Summer”

By Ben Hunt | July 29, 2015

A quick Epsilon Theory email and a quick announcement. Announcement first. I’ll be giving a 1-hour webcast on Risk Premia strategies next Tuesday, August 4th,…