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“Yay, College!” Part 1: The Smiley-Face Super-Villainy of American Higher Education

By Ben Hunt | 41 Comments

The modern American system of higher education – especially its most prominent public and private universities – is less our Superman than our Homelander, a smiley-faced faux superhero who does The Man’s dirty work in exchange for wealth, privilege and … our cheers.

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Why Am I Reading This Now? 01.23.23

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



Why Am I Reading This Now? 01.16.23

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



Why Am I Reading This Now? 01.09.23

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



Why Am I Reading This Now? 01.02.23

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



Why Am I Reading This Now? 12.26.22

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



Recent Notes

Rise of the Machines

By Ben Hunt

“Music, this complex and mysterious act, precise as algebra and vague as a dream, this art made out of mathematics and air, is simply the…

The Tao of Portfolio Management

By Ben Hunt

“Shape clay into a vessel; It is the space within that makes it useful. Cut doors and windows for a room; It is the holes…

The Market of Babel

By Ben Hunt

“But Achilles, weeping, quickly slipping away from his companions, sat on the shore of the gray salt sea, and looked out to the wine-dark sea.”…

The Music of the Spheres and the Alchemy of Finance

By Ben Hunt

“You say that we go round the sun. If we went round the moon it would not make a pennyworth of difference to me or…

How Gold Lost Its Luster, How the All-Weather Fund Got Wet, and Other Just-So Stories

By Ben Hunt

In some periods of history gold is money. In other periods of history gold is not. But gold is always something, and that something is defined by the Common Knowledge of the day.

Today our Common Knowledge is that gold is an insurance policy against central bank error.

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The Matrix Reloaded — Seeing Markets as Informational Structures

By Ben Hunt

A review of current market informational structure one week post the June 19th FOMC announcement. epsilon-theory-matrix-reloaded-seeing-markets-as-informational-structures-june-27-2013.pdf (295KB)

2 Fast 2 Furious

By Ben Hunt

We are all impaled on the crook of conditioning. – James Dean (1931 – 1955) This note is a sequel to my letter from two weeks…

The Narrative Battle is Joined

By Ben Hunt

A review of Narrative formation efforts on June 21st to support the market. epsilon-theory-the-narrative-battle-is-joined-june-21-2013.pdf (227KB)

What’s the Opposite of ‘Green Shoots’?

By Ben Hunt

An initial examination of the informational inflection point generated by the June 19th FOMC announcement. epsilon-theory-whats-the-opposite-of-green-shoots-june-20-2013.pdf (235KB)

Failure to Communicate, Part Deux

By Ben Hunt

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

The first ET note focused on Information Theory.

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What We’ve Got Here Is … Failure to Communicate

By Ben Hunt

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…

Epsilon Theory Manifesto

By Ben Hunt

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.

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Friday Was an Important Day

By Ben Hunt

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

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

Jack Welch was Right

By Ben Hunt

An analysis of systematic error in BLS data and its role in the Narrative regarding US labor conditions. epsilon-theory-jack-welch-was-right-october-29-2012.pdf (219 KB)

Donald Rumsfeld and Risk Management

By Ben Hunt

Early notes on investment as an exercise in decision-making under uncertainty. epsilon-theory-donald-rumsfeld-and-risk-management-october-7-2012.pdf (197 KB)

Hello Darkness My Old Friend

By Ben Hunt

Growing political fragmentation in Europe and its structural consequences for markets. epsilon-theory-hello-darkness-my-old-friend-september-29-2012.pdf (123 KB)

Dude, Where’s My Financial Repression

By Ben Hunt

An initial analysis of the Sept. 15th FOMC announcement of open-ended QE. epsilon-theory-dude-wheres-my-financial-repression-september-15-2012.pdf (191 KB)

Why Do Words Matter So Much?

By Ben Hunt

Early notes on importance of Common Knowledge game in understanding market behavior. epsilon-theory-why-do-words-matter-so-much-august-30-2012.pdf (753 KB) Test: epsilon-theory-why-do-words-matter-so-much-august-30-2012.pdf (753 KB)

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Why Am I Reading This Now? 01.23.23

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



Why Am I Reading This Now? 01.16.23

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