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.
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
Modeling Common Knowledge by analyzing Missionary statements and their reverberations works. Except when it doesn’t.
What do you get when you give a Raccoon billions of dollars AND invisibility from regulators? Collusion and insider trading.
Most of us are under the impression that a protracted conflict within China will increase national unity. Not this time.
Recent Notes
Snikt
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
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
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
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
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
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
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
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
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?
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
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
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
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
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
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
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”
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,…
The New TVA
War is too important to be left to the generals. – Georges Clemenceau (1841 -1929) Competition has been shown to be useful up to a…
1914 is (still) the New Black
There are decades where nothing happens; and there are weeks where decades happen. – Vladimir Lenin (1870 – 1924) In 1914, Europe had arrived at…
1914 is the New Black
Man in Black: All right. Where is the poison? The battle of wits has begun. It ends when you decide and we both drink, and…