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
Crisis of Faith
On episode two of the Epsilon Theory podcast, hosts Dr. Ben Hunt and Jeremy Radcliffe examine why the once-trusted models in finance and politics are…
The Introduction
In episode one of the Epsilon Theory podcast, hosts Dr. Ben Hunt and Jeremy Radcliffe discuss the origins of Epsilon Theory, how Dr. Hunt came…
Who’s Being Naïve, Kay?
The Mysterious Stranger is a liar, to be sure, but he’s a proper villain, as the Brits would say, and he’s quite upfront about his goals and his use of clever words to accomplish those goals.
Your goal? Survive the encounter.
Optical Illusion / Optical Truth
Portion of original dot map by Dr. John Snow, the founding father of epidemiology, showing the clusters of cholera cases in the London epidemic of…
The Placebo Effect
BOTOX® is the only FDA-approved, preventive treatment that is injected by a doctor every 12 weeks for adults with Chronic Migraine (15 or more headache…
My Passion is Puppetry
Campaign Company Launch Date “Flo” Progressive Insurance 2008 “Rhetorical Question” “Happier Than A … ” “Did You Know?” “It’s What You Do” GEICO 2009 2012…
There for the Right Reasons
A quick follow-up to “Hobson’s Choice”, the most widely-read note in the Epsilon Theory canon to date (thank you!). First, I’ll be hosting a one…
Hobson’s Choice
I’d like an omelet, plain, and a chicken salad sandwich on wheat toast, no mayonnaise, no butter, no lettuce, and a cup of coffee. Now all you have to do is hold the chicken, bring me the toast, give me a check for the chicken salad sandwich, and you haven’t broken any rules.
The Narrative Fix Is In
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
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
We all sing along But the notes are wrong – Matt & Kim, “Get It” (2015) The strong do what they will, and the weak…
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,…