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 – five years, a hundred thousand email subscribers, 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.
Epsilon Theory will continue to be a free publication for those who want to watch from a distance.
But for those who want to participate, we offer a Premium subscription.
Premium subscribers may comment and engage directly on all content published, anonymously if they wish. Premium subscribers have access to special events and conversations, full control over how they consume Epsilon Theory content (from digests and emails to PDFs and ad-free website viewing), and a 24-hour early window on all long-form content.
Next month we will announce a Professional subscription for those who want to tap directly our tools and research for their investment process. All Premium subscriptions will be credited toward Professional subscriptions.
We’re trying to do something different, 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.