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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 New TVA

By Ben Hunt | July 23, 2015

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

By Ben Hunt | July 6, 2015

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

By Ben Hunt | June 29, 2015

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…

Inherent Vice

By Ben Hunt | June 22, 2015

Want to get hours of your week as a professional investor back? Want to reduce pointless portfolio activity and bad use of time with clients? Stop predicting games of chicken.

Two Growth Announcements and One Not So Much

By Ben Hunt | June 10, 2015

I’m with you in Rockland where we are great writers on the same dreadful typewriter. – Allen Ginsberg, “Howl” (1956)  Give me a long enough…

Sometimes a Cigar is Just a Cigar

By Ben Hunt | May 22, 2015

More on Information Theory.

More Probable Than Not

By Ben Hunt | May 11, 2015

The only thing that I ask from this group today and the American people is to judge me from this day forward. That’s all I…

The Talented Mr. Ripley

By Ben Hunt | April 27, 2015

The more I practice, the luckier I get. – Gary Player (b. 1935) Luck is the residue of design. – Branch Rickey (1881 – 1965) I’ve…

It’s Still Not About the Nail

By Ben Hunt | April 14, 2015

Reader reaction to the March 31 Epsilon Theory note, “It’s Not About the Nail”, was probably the strongest and most positive for any note to…

It’s Not About the Nail

By Ben Hunt | March 31, 2015

Do, or do not. There is no try.” – Yoda, “Star Wars: Episode V – The Empire Strikes Back” (1980) I see it all perfectly;…

Troy Will Burn – the Big Deal about Big Data

By Ben Hunt | March 16, 2015

For the life of me, I don’t understand the debate [over the NSA metadata program]. – Jeb Bush, February 18, 2015 The Central Intelligence Agency…

Epsilon Theory Mailbag: Bitcoin and Big Data

By Ben Hunt | March 9, 2015

One of the best parts of authoring Epsilon Theory is the correspondence I get from readers. For the past few months, however, I’ve been frustrated…

Why Take a Chance?

By Ben Hunt | February 24, 2015

Vinny Forlano: He won’t talk. Stone is a good kid. Stand-up guy, just like his old man. That’s the way I see it. Vincent Borelli:…

The Effete Rebellion of Bitcoin

By Ben Hunt | February 17, 2015

In structure, Bitcoin is a bearer bond.

In meaning, Bitcoin is the cautious expression of a rebellious identity. 

First Known When Lost

By Ben Hunt | February 3, 2015

I never noticed it until ‘Twas gone – the narrow copse Where now the woodman lops The last of the willows with his bill –…

7 Quick Points on Europe

By Ben Hunt | January 26, 2015

#1) Here are the most relevant recent notes for an Epsilon Theory perspective on the underlying political and market risks in Europe: “The Red King”…

Ghost in the Machine, Part 1

By Ben Hunt | January 20, 2015

  The way out is through the door. Why is it that no one will use this method? ― Confucius (551 – 479 BC) Tanzan…

Catch – 22

By Ben Hunt | January 12, 2015

Four times during the first six days they were assembled and briefed and then sent back. Once, they took off and were flying in formation…

The Clash of Civilizations

By Ben Hunt | December 29, 2014

Thomas Cole, “The Course of Empire: Destruction” (1836) In the emerging world of ethnic conflict and civilizational clash, Western belief in the universality of Western…

Now There’s Something You Don’t See Every Day, Chauncey

By Ben Hunt | December 16, 2014

Narrator: Well, today we find our heroes flying along smoothly… Rocket J. Squirrel: Flying along smoothly? Bullwinkle J. Moose: You’re just looking at the picture…