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The Four Horsemen of the Great Ravine, Part 1

By Ben Hunt | 17 Comments

Every so often, things fall apart.

In the words of those who lived it, here are the vibes and the semantic signatures of the twentieth century’s most devastating social collapses.

From the meaning in their words, wisdom for our future emerges.

Why Am I Reading This Now? 01.13.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Why Am I Reading This Now? 01.06.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Why Am I Reading This Now? 12.30.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Why Am I Reading This Now? 12.23.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Why Am I Reading This Now? 12.16.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



This is an exclusive subscriber-only preview of the first six chapters of Rusty Guinn’s upcoming book Outsourcing Consciousness: How Social Networks are Making Us Lose Our Minds. The book explores how evolution, polarization, and technology are slowly transforming humanity into a hive mind - and what we can and can't do about it.

The Long Now is everything we pull into the present from our future selves and our children. We are told that the economic stimulus and the political fear of the Long Now are costless, when in fact they cost us … everything.
Tick-tock.

Men of God in the City of Man is a nine part series about a Narrative virus that infected the charismatic and Pentecostal churches in the United States. It isn't a story about Christian Nationalism. It isn't a story about January 6th. It isn't a story about why people voted for Trump. It is a story about a story. It is a story about the language that created a self-sustaining movement defined by its unwavering belief in a fundamentally corrupt electoral system.

Amid the Widening Gyre of politics and the black hole of financial markets, the only anchor is us, together, walking with Clear Eyes and Full Hearts. Experience Ben's original 4-part series.

Recent Notes

In the News | Week of 12.17.2018

By Rusty Guinn | December 14, 2018

Key articles for companies reporting the week of December 17, 2018, as well as the upcoming meeting of the FOMC.

Common Knowledge or Fortune?

By Rusty Guinn | December 14, 2018

Common knowledge effects, credentialing and missionaries are everywhere. You may differ in your view of their importance, but if your framework doesn’t acknowledge their role in price-setting, you’re not seeing the full picture.

Basically a Snake Don’t Have Parts

By Rusty Guinn | December 12, 2018

No matter how much you try to make mama tell you what part of the snake you’re eating, and no matter how much the answer might comfort you, it’s important to know that neither you nor she is telling the truth.

Topical Trends from Corporate Earnings Calls (12/2018)

By Rusty Guinn | December 12, 2018

As we’ve written a fair bit recently, the source of Narrative can often be as important as the stories being told themselves. By narrowing the…

Office Hours – 12.11.2018

By Rusty Guinn | December 11, 2018

Our December 11 edition of Office Hours has concluded, but subscribers can still catch the replay here.

Introduction to ET Professional

By Rusty Guinn | December 11, 2018

We are pleased to announce the launch of Epsilon Theory Professional, or ET Pro. It is a service designed to leverage our narrative research more directly for investors and asset owners. Learn more about the types of content and research we’re doing here.

You Don’t Have to Dance Every Dance

By Ben Hunt | December 11, 2018

Discretionary investment always and in all ways boils down to two things: edge and odds. In the US-China trade war game of Chicken, you have no edge. And you don’t know the odds. Time to sit this dance out.

ET Live @ 2PM ET 12.11.2018

By Rusty Guinn | December 10, 2018

We will be live at 2PM on Tuesday, December 11, 2018. Click here to get more information about ET Live, how to subscribe and how to get your questions in for the day.

In the News | Week of 12.10.2018

By Rusty Guinn | December 7, 2018

Key articles for companies reporting the week of December 10, 2018

The Dog That Didn’t Bark

By Ben Hunt | December 7, 2018

Sometimes the dog that doesn’t bark gives as loud a warning as the dog that does. That was true for Sherlock Holmes, and it’s true for investors, too.

The People are Revolting

By Rusty Guinn | December 5, 2018

Just because something is true doesn’t mean that it can’t also be transformed into a Meme. That is, in fact, the usual outcome when an idea encounters resistance. But this isn’t a path to truth.

Inside the Skinner Box

By Rusty Guinn | December 3, 2018

If you want to learn how you will be nudged in the future, look to the same places: Vegas and Video Games.

Pics or It Didn’t Happen

By Ben Hunt | December 1, 2018

What will it take to Burn The Oligarchy Down? Pics of a certain sort. Which is why “doctored” will be 2019’s Word of the Year.

Fiat News Index – November 2018

By Rusty Guinn | December 1, 2018

In our November 2018 update to the Fiat News Index, we review some topics that media outlets are even happier than usual to tell us how to think about.

Burn. It. Down.

By Ben Hunt | November 28, 2018

It’s almost as if there’s a ruling class.

Even When I Lie

By Rusty Guinn | November 28, 2018

There are three reasons a person becomes a liar: he believes that he must, he believes that he may, or he believes it serves a Greater Truth.

In the News | Week of 12.3.2018

By Rusty Guinn | November 28, 2018

Key articles for companies reporting the week of December 3, 2018

Deals Are My Art Form

By Rusty Guinn | November 26, 2018

The emphasis of asset owners on private assets investments is meta-stable – robust to a lot of potential changes in market environment. The reason? The deals! meme.

American Gods

By Ben Hunt | November 25, 2018

Every idea has a story, but the story is not the idea. Stories are born, they live, and they die. But if the idea is powerful enough, it can find a new story and be reborn. Crypto must find a new story.

What’s Your Metagame? An Open Letter to the Crypto Community

By Ben Hunt | November 23, 2018

It’s an invitation to explore a joint research program, as described in TFA3. It’s an invitation to share ideas on liberty, resistance and technological advancement. It’s NOT an invitation to share ideas about money.