We are Second Foundation Partners

Epsilon Theory began in the spring of 2013 as a series of emails I wrote to myself and a few colleagues, trying to make sense of markets that didn’t make much sense. I decided to post a few of those emails online, and I cobbled together what I grandiosely called a Manifesto, proposing a new way of looking at investing and markets. Or rather, an old way of looking at investing and markets, one focused on behavior and history and strategic interactions, but with new tools, new energy and a new voice.

Today … six years and millions of pageviews later … I’m pleased to publish a new Manifesto – Clear Eyes, Full Hearts, Can’t Lose – to take Epsilon Theory in a new direction, to move from observation and commentary to action and teaching.

We are Second Foundation Partners, the publishers of Epsilon Theory, and we are committed to real change in the practice of investing and the practice of citizenship. We are a completely independent voice for change, with no obligation to anyone but our readers, our clients, and our partners – our pack.

We invite you to join us, not just because we can help you become a better investor, but because ALL of us can help ALL of us become better citizens. This is the power of the crowd watching the crowd. It builds cathedrals, it starts revolutions, and it darn sure moves markets. It’s the most powerful force in the social world, and we invite you to join us in figuring it out.

For those who want to watch from a distance and read the occasional article, we are a free-to-access website with a leaky paywall – two free long-form notes per month and unlimited free short-form notes (what we call The Zeitgeist).

For those who want to participate and read it all … for those who want to join our pack … we offer a Premium subscription.

For professional investors, financial advisors and allocators who want to tap directly into our Narrative Machine research for actionable investment observations, we offer a Professional subscription.

You can compare all of our subscription offerings – Free Email, Premium, and Professional – here.

We’re trying to do something different at Second Foundation Partners, both with our words and our business. We are hiding in plain sight, a forum for expressing the small-l liberal virtues that support an individual autonomy of mind, with an intent to promote those virtues in a non-partisan, grassroots way.

If that is your pack … if Epsilon Theory is useful to you as an investor or a citizen … now is the time to make yourself known.

To learn more about Epsilon Theory and be notified when we release new content sign up here. You’ll receive an email every week and your information will never be shared with anyone else.

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This commentary is being provided to you as general information only and should not be taken as investment advice. The opinions expressed in these materials represent the personal views of the author(s). It is not investment research or a research recommendation, as it does not constitute substantive research or analysis. Any action that you take as a result of information contained in this document is ultimately your responsibility. Epsilon Theory will not accept liability for any loss or damage, including without limitation to any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Consult your investment advisor before making any investment decisions. It must be noted, that no one can accurately predict the future of the market with certainty or guarantee future investment performance. Past performance is not a guarantee of future results.

Statements in this communication are forward-looking statements. The forward-looking statements and other views expressed herein are as of the date of this publication. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements, and there is no guarantee that any predictions will come to pass. The views expressed herein are subject to change at any time, due to numerous market and other factors. Epsilon Theory disclaims any obligation to update publicly or revise any forward-looking statements or views expressed herein. This information is neither an offer to sell nor a solicitation of any offer to buy any securities. This commentary has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Epsilon Theory recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.