Vanguard Doesn’t Care About Your Trade War

June 11, 2019 | Ben Hunt | No Comments |

Every morning, we run The Narrative Machine on the past 24 hours worth of financial media to find the most on-narrative (i.e. interconnected and central) stories in financial media. It’s not a list of best articles or articles we think are most interesting … often far from it.

But for whatever reason these are articles that are representative of some sort of chord that has been struck in Narrative-world.

China’s Ant Financial, Vanguard form Shanghai-based venture: government records    [Reuters]

“Even though no one knows specifically what they’re going to do, I think it stands to reason that Vanguard will bring their expertise in running passive portfolios and Ant will bring their expertise in placement and distribution,” he added.

Vanguard isn’t waiting around for a Chinese trade “deal”.

Vanguard isn’t clutching their pearls about Chinese IP “theft”.

No, Vanguard is going to do what they always do … they’re going to obliterate their competition with the pricing power that comes from collaboration with every government’s intense desire to transform active capital markets into a passive political utility.

Vanguard is the Killer Rabbit. And yes, there’s an Epsilon Theory note about that.

Pricing Power (pt. 3) – Government Collaboration

Start the discussion at the Epsilon Theory Forum

The Daily Zeitgeist

ET Zeitgeist: Raccoons Never Sleep

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Lemonade (LMND) isn’t just an insurance company. No, no … they’re an AI Company! ™.

Plus Chamath is up to his old tricks.

I hate raccoons.

Inflation as Ad Campaign

By Ben Hunt | May 24, 2021 | 0 Comments

An ET Pack member sent me this. Anyone else come across ads that directly call out inflation expectations? Would love to collect more screenshots like…

Many People Are Saying … Bitcoin is Art

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The Bitcoin Is Art thesis that I put out back in 2015 (The Effete Rebellion of Bitcoin) and recently put forward again (In Praise of…

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By Ben Hunt | February 10, 2021 | 27 Comments

WHO beclowns itself with its “fact-finding mission” to Wuhan.

Hammers and Nails

By Rusty Guinn | February 8, 2021 | 16 Comments

When we talk about bias, we usually think about a political bias. But the world of 2021 now supports persistent idiosyncratic biases and frames through which information is passed. How do we ensure that our information consumption habits account for this?

For Leon Black is an Honorable Man

By Ben Hunt | January 26, 2021 | 10 Comments

O judgment! thou art fled to brutish beasts,
And men have lost their reason. Bear with me;
My heart is in the coffin there with the American dream that once was,
And I must pause till it come back to me.

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