I am desperately opposed to crashing the Pax Americana car, Annie Hall style, because the America First system that this Administration wants as a replacement is not a stable system that is possible as a replacement.
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
The cure for the cancer of gun culture and police culture is not to be found in reform laws around guns and police, but in reform ideas around culture, ideas that create a new dimension of American society that rejects LARPing and LARPers alike.
Inflation
What made Bitcoin special is nearly lost, and what remains is a false and constructed Narrative that exists in service to Wall Street and Washington rather than in resistance.
The Bitcoin narrative must be renewed. And that will change everything.
This Time Last Year
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Crypto
Recent Notes
Karnak
On episode 12 of the Epsilon Theory podcast, Dr. Ben Hunt takes a trip down memory lane to look back on the cause of the 2008 financial crisis. He applies those lessons to today’s markets and upcoming election, and nostalgically shares what might boost his spirits.
Anthem!
I want to be a patriot again. I want to be a fundamental investor again. It won’t ever be exactly like it was before, but that’s okay. A renewed faith can be a stronger faith. It just won’t be a blind faith. It has to be a faith based on my own labor and my own time, a non-alienated patriotism and a non-alienated investment strategy. It has to be a political participation and a market participation based on who we are, not who we are paid to be.
Anthem!
On episode 11 of the Epsilon Theory podcast, Dr. Ben Hunt is joined by two of his daughters, Hannah Hunt and Harper Hunt, to find out if they have an anthem this election season: a rousing cause or political movement about which they feel passionate. They also discuss the role of government and if their difference of opinion is a result of a generational gap.
Virtue Signaling, or … Why Clinton is in Trouble
Don’t get me wrong. I’m thoroughly despondent about the calcification, mendacity, and venal corruption that I think four years of Clinton™ will impose. Trump, on the other hand … I think he breaks us. Maybe he already has. He breaks us because he transforms every game we play as a country — from our domestic social games to our international security games — from a Coordination Game to a Competition Game.
The First Presidential Debate
On episode 10 of the Epsilon Theory podcast, Dr. Ben Hunt is joined by Downtown Josh Brown, author, CNBC contributor, and CEO of Ritholtz Wealth Management. Ben and Josh discuss their reaction to the first presidential debate and what it would mean to have a President Clinton or a President Trump.
Essence of Decision
Here’s the thing. The Fed is now revealing its one True Love — its own reputation and its own political standing — and that’s going to be a bombshell revelation to investors who think that the Fed loves them.
Jubilee!
We’re back in Houston on Episode 9 of the Epsilon Theory podcast. Dr. Ben Hunt is joined by Salient’s chief investment officer Lee Partridge and…
Magical Thinking
The problem with magical thinking run amok and its perpetuation of a fantasy world is that sooner or later the dream of the delusional king becomes a real world nightmare for real world people. It’s time to wake up.
Magical Thinking
Live from New York in episode 8 of the Epsilon Theory podcast, host Dr. Ben Hunt tackles LIBOR, the money market, and explores magical thinking…
The Narrative Machine
“So, in the interests of survival, they trained themselves to be agreeing machines instead of thinking machines. All their minds had to do was to discover what other people were thinking, and then they thought that, too.” – Kurt Vonnegut
If there’s a better description of modern markets, I have yet to find it. We have become agreeing machines.
Full House
On episode seven of the Epsilon Theory podcast, host Dr. Ben Hunt is joined in San Francisco by Salient’s president Jeremy Radcliffe and deputy CIO…
Dungeons & Dragons
On episode six of the Epsilon Theory podcast, host Dr. Ben Hunt is joined again by Salient deputy chief investment officer Rusty Guinn to talk…
Crisis Actors and a Reichstag Fire
Man in Bar: Tomorrow, I’m gonna be a hero. Gideon: I’m sorry? Man in Bar: You may just be a patsy, but you’re an important…
Financial “Innovation” Returns to ABS Market
On Monday, Verizon Wireless successfully securitized more than $1 billion in cellphone contracts and sold the notes into the Asset-Backed Securities (ABS) market. Here’s the…
Mailbag #1
On episode five of the Epsilon Theory podcast, host Dr. Ben Hunt riffles through the mailbag to answer reader questions. Join the conversation and subscribe…
When Narratives Go Bad
How many things served us yesterday as articles of faith, which today are fables for us? – Michel de Montaigne, The Complete Essays (1580) That…
Special Edition: Brexit
On a special episode of the Epsilon Theory podcast, hosts Dr. Ben Hunt and Jeremy Radcliffe discuss the economic and historical context of the Brexit…
Waiting for Humpty Dumpty
Humpty Dumpty sat on a wall, Humpty Dumpty had a great fall. All the king’s horses and all the king’s men Couldn’t put Humpty together…
Cat’s Cradle
“No wonder kids grow up crazy. A cat’s cradle is nothing but a bunch of X’s between somebody’s hands, and little kids look and look…
Southern Accents
On episode three of the Epsilon Theory podcast, host Dr. Ben Hunt is joined by Salient’s deputy chief investment officer Rusty Guinn. Through anecdotes about Donald…
Recent major media stories that feel to us like they’re part of a larger narrative campaign.