Be sure to join us at 2PM ET today for Epsilon Theory Live!, our subscriber-only, without-a-net conversation about all things narrative in politics and financial markets.

The Zeitgeist

Yeah, It’s Still Water

You know, everyone is all in a tizzy about Softbank paying Adam Neumann $1.7 billion just to go away.

My unpopular opinion: the Adam Neumann story is repeated in a non-infuriating and non-obvious way every day in every S&P 500 company. And it’s been going on for a DECADE.

One day we will recognize the defining Zeitgeist of the Obama/Trump years as an unparalleled transfer of wealth to the managerial class.

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ET In Full

Failure to Communicate, Part Deux

By Ben Hunt | June 19, 2013 | 0

A review of Narrative formation immediately after the June 19th FOMC announcement. PDF Download (Paid Membership Required): http://www.epsilontheory.com/download/15677/

Through the Looking Glass, or … This is the Red Pill

By Ben Hunt | June 16, 2013 | 0

There are unwritten rules for almost all social phenomena, from investing to writing epic poetry. Not that these weekly notes aspire to Homeric levels (although they do get pretty lengthy), but Epsilon Theory does follow one unwritten rule taken from the Iliad, the Aeneid, etc. in that I began this story in media res– in the middle of …

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What We’ve Got Here Is … Failure to Communicate

By Ben Hunt | June 9, 2013 | 0

From the classic Paul Newman movie, Cool Hand Luke, as the Captain administers Luke’s punishment in the prison yard for yet another escape attempt:  Captain: You gonna get used to wearing those chains after a while, Luke. Don’t you never stop listening to them clinking, ‘cause they gonna remind you what I been saying for your …

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Epsilon Theory Manifesto

By Ben Hunt | June 1, 2013 | 1

Our times require an investment and risk management perspective that is fluent in econometrics but is equally grounded in game theory, history, and behavioral analysis. Epsilon Theory is my attempt to lay the foundation for such a perspective. The name comes from the fundamental regression equation of modern portfolio management: y = α + β+ …

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Friday Was an Important Day

By Ben Hunt | November 18, 2012 | 0

An initial examination of the informational inflection point generated by the Nov. 18th Boehner/Reid press conference. epsilon-theory-friday-was-an-important-day-november-18-2012.pdf (247 KB)

Don’t Mess with Mister In-Between

By Ben Hunt | November 8, 2012 | 0

Early research on the relationship between informational surfaces and structural market change. epsilon-theory-dont-mess-with-mister-in-between.pdf (244 KB)

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ET Live!

ET Live! – 11.19.2019

November 19, 2019

It’s the November 19th, 2019 edition of Epsilon Theory Live! Be sure to join Ben and Rusty for a discussion of all things narrative in the world of politics and markets.

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ET Live! – 10.22.2019

October 22, 2019

In which Ben and Rusty discuss the three Ps of the narrative of a functioning government – and why their cartoons are being stretched to the limit.

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ET Live! – 8.27.2019

August 27, 2019

It’s the August 27th edition of Epsilon Theory Live! In which political, economic and markets nihilism are the order of the day.

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ET Live! – 7.30.2019

July 30, 2019

It’s the July 30th, 2019 ET Live! Today, we’re all MMT’ers, or at least that’s the narrative in political space. But what about markets?

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