The Zeitgeist | 1.17.2019

The Daily Zeitgeist

That Time I Bought Blockbuster Debt

By Ben Hunt | June 20, 2019 | 0 Comments

Management is not lying to you. It’s probably a really good turn-around plan. It could probably work out fine … IF they are given enough time. But they won’t be. Particularly when it’s the second turn-around plan.

Secularly declining companies ALWAYS run out of time.

It was one of the most expensive lessons of my investing career. And worth every penny.

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Democracy Dies with Dancing

By Rusty Guinn | June 18, 2019 | 0 Comments

There’s a critical, indispensable feature of a free nation we call a free press. And then there’s the meme of free press!. The latter is a pure narrative construction, and a thing well supplied in the DC market.

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The Not-So-Much War

By Rusty Guinn | June 17, 2019 | 0 Comments

A tug-of-war is only a tug-of-war if both sides, y’know, are capable of pulling on the rope.

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Zeitgeist Narrative Map – 6.14.2019

By Rusty Guinn | June 14, 2019 | 1 Comment

1+ Every morning, we run the Narrative Machine on the past 24 hours worth of financial media to find the most on-narrative (i.e. interconnected and central) stories in financial media. It’s not a list of best articles or articles we think are most interesting … often far from it. But this is the map that …

Read moreZeitgeist Narrative Map – 6.14.2019

Victims of Success

By Rusty Guinn | June 14, 2019 | 0 Comments

If you’re going to trade on story and sentiment, more power to you. But over time, the mind naturally searches for justification and credibility for continued ownership of something. Take care when you start to feel that pull.

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Live from Potemkin

By Rusty Guinn | June 14, 2019 | 0 Comments

Sometimes a news article that’s all over the map is just a badly written article. Sometimes it’s like a glitch in the matrix. I think the changing narratives and weakening common knowledge around Big Tech are causing the latter.

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Mike S
Member
Mike S

Great Idea!

Bottom line:  When discussion of monetary policy is at its highest pitch, there is often less cause for concern than when almost no one it talking about it.  When the big players miss there marks…its the Fed’s Fault when they do hit there marks…no mention of the Fed!

Yes, he will keep hiking but will probably wait until the second half of 2019! Volcker tackled the “Great Inflation” and Powell is tackling the “Asset-Economy.” The sky is not falling folks! Know thyself First! Ben has stated several times he is by nature a “Contrarian-Bear,” so that is his starting point of realizing his emotional state…how bout you? Don’t become a Zombie…know the difference between recession and slowdown…either way, it does look like a cyclical down trend. But what you see can be deceiving…Bogle new this! What a smart guy! To a better place…

“Since the liquidity trap is gone, and inflation remains well under control, the liquidity trap does not seem to be the reason why inflation did not explode post-2008, following the Fed’s stabilization measures.
No one is admitting this simple reality, which is staring us in the face.”
—Tyler Cohen, Aug18

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Landvermesser
Member
Landvermesser

I notice the narrative around Facebook seems to have swung very hard negative recently. Like the story yesterday about 10-year old profile pictures and whether they’re used to train creepy AI age extrapolation algorithms. I wonder if any if these just missed the cut?

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Mike S
Member
Mike S

AI doesn’t require the ability to learn. In the most extreme case, all intelligent behavior in the machine could be directly hard-coded into it by a programmer. The machine can still conform to the definition of AI as long as the preset algorithm allows it to achieve its objective. Many current-day AI systems are actually of this rule-based systems type, where engineers supply all the intelligence to the system….it has a long way to go! But it makes a great buzzword!

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