1M implied volatility on the VIX fell to an all-time low last week. Generally speaking, this means that options on short-term market volatility increasing have…
I’ve received a lot of questions over the past few weeks about Russia and the Ukraine, and why I don’t include this flashpoint in my…
A trilogy is a pretty abstract notion. You can apply it to almost any three things. – Jonathan Demme Mozart: So then you like it?…
I distributed this Epsilon Theory reading list last summer, but it never made it to the website. Given the volume of requests I receive for…
I started the Epsilon Theory project nine months ago with the publication of a “Manifesto” and an email to a few hundred friends and colleagues.…
Same as it ever was, same as it ever was, same as it ever was, same as it ever was – Talking Heads, “Once in…
One of the things I like to keep my eye on when I’m puzzling out what’s going on in the market are the specific company…
Le roi est mort, vive le roi! – French proclamation as coffin of old king is placed into burial vault of Saint Denis Basilica. The…
Apocalypse Now (1979), based on “Heart of Darkness” by Joseph Conrad Kurtz: Did they say why, Willard, why they want to terminate my command? Willard:…
Two brief observations on incipient shifts in powerful Narratives … First, China. The pleasant charade that recent currency intervention was nothing more than an effort…