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ET Pro Regulation Monitor

Navigating the Discovery Map

By Rusty Guinn | January 14, 2019 | 2 Comments

At the suggestion of one of our friends and subscribers, we wanted to provide what we think are some of the best launch points for exploration of the newly published Discovery Map. The only question: do you want to explore topics in depth or see the connections between them?

In the Flow – Reflexivity

By Ben Hunt | January 14, 2019 | Comments Off on In the Flow – Reflexivity

Soros’s Reflexivity is another name for the Common Knowledge Game, just focused on price action narratives. We see the development of just such a price action Narrative today in macro world, one that surely makes Trader George’s ears prick up.

A Tale of Two Tales (Banking)

By Rusty Guinn | January 13, 2019 | Comments Off on A Tale of Two Tales (Banking)

US Banks have a common narrative structure – two competing topics of vastly different sentiment, with one dominating market attention at any given time. Worthy of some thought going into bank earnings week.

In The News | Week of 1.14.2019

By Rusty Guinn | January 13, 2019 | Comments Off on In The News | Week of 1.14.2019

A busier than usual week, as first quarter earnings season kicks off for banks and airlines. A few other notables in tech and energy, as well.

Shikaka!

By Rusty Guinn | January 12, 2019 | 8 Comments

In this news cycle, if an issue sticks around for more than a week, you can be sure that it isn’t by accident. It’s because it represents an abstraction, and because those in influence like how that abstraction changes our behavior.

You Are Here

By Ben Hunt | January 11, 2019 | 27 Comments

The greatest risk to your portfolio is a change in the zeitgeist. A change from deflation to inflation. A change from cooperative international games to competitive games. A change from capital markets to political utilities.

I think it’s all happening.

The Alembic

By Rusty Guinn | January 10, 2019 | 2 Comments

Distillation isn’t a process of concentration. It isn’t a natural progression. It is a violent changing of the underlying thing. So, too, is portfolio construction.

Run, Run, Pass

By Rusty Guinn | January 8, 2019 | 8 Comments

It’s easy to convince ourselves that the opposite of being narrative-driven is being data-driven. This is a lie. The most common way that narrative influences our behavior is through unadorned data, presented with the unstated implication that it is necessary, sufficient and explanatory.

Rabbit Hole: Mathematical Toys, Moral Injuries, and Odes to the Hack

By Neville Crawley | January 8, 2019 | 0 Comments

Neville’s favorite links from recent months, including an interview with a collector of mathematical toys and an ode to the hack.

In the Flow – LOL

By Ben Hunt | January 7, 2019 | 0 Comments

In the big picture, we’re still in the middle of a technically uncertain game of Chicken between the U.S. and China. But Powell’s VERY public about-face on Friday, coupled with the VERY strong jobs report, creates a VERY different investment backdrop for the US-China trade impasse.