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Mailbag! Midsummer 2017 Edition

Posted on July 27, 2017

Back by popular demand, it’s the Epsilon Theory Mailbag! Today’s edition covers notes from the past two months including “Tell My Horse”, “Post-Fed Follow-Up”, “Notes From the Field”, “The Goldfinch in Winter”, “Gradually and Then Suddenly”, and a podcast or two. Keep those cards and letters coming … I have been in Cash for the […]

Gradually and Then Suddenly

Posted on July 18, 2017

“How did you go bankrupt,” Bill asked. “Two ways,” Mike said. “Gradually and then suddenly.” “What brought it on?” “Friends,” said Mike. “I had a lot of friends.” ― Ernest Hemingway, The Sun Also Rises (1926) What do socialism and modern monetary policy have in common? Magical thinking. For both, it’s true on the giddy […]