Epsilon Theory Podcast

Cursed Knowledge #30: The Road to Hell Nov 12, 2024

The road to hell is paved with good intentions. But how do good intentions go so wrong? And why is it so difficult to course correct? Those are the questions explored by Harper Hunt and Rusty Guinn in this episode of Cursed Knowledge.

Intentional Investor #17: Jared Dillian Nov 11, 2024

In this episode of The Intentional Investor, host Matt Zeigler sits down with Jared Dillian - former Lehman Brothers trader, acclaimed newsletter writer, and author - for a captivating conversation about the unexpected paths that shape a life's work. From his early days as a Coast Guard officer to becoming a Wall Street trader, and ultimately finding his voice as a writer, Dillian shares candid insights about his journey.

The Intentional Investor #16: Remi Tetot Oct 29, 2024

Join host Matt Ziegler as he sits down with Remy Tetot, the mind behind The Mad King newsletter and former co-founder of Real Vision, for a fascinating journey through the intersection of technology, finance, and personal growth. From washing dishes in Spain to revolutionizing financial media with Real Vision, Remy shares his remarkable story of constant reinvention. Learn how he transformed from a self-taught coder into a macro analyst under Raoul Pal's mentorship, helped build Real Vision from the ground up, and navigated both spectacular successes and humbling failures in the crypto markets.

Intentional Investor #15: Brent Donnelly Oct 15, 2024

In this episode of The Intentional Investor, host Matt Zeigler interviews Brent Donnelly, a veteran forex trader, financial writer, and mentor. Brent shares his fascinating journey from aspiring journalist to Wall Street trader, and how he eventually combined his love for writing and finance. Brent offers valuable insights for aspiring traders and finance professionals, emphasizing the importance of finding one's unique edge and maintaining perspective in a demanding industry. This conversation explores the intersection of finance, creativity, and personal growth, making it a must-listen for anyone interested in the human side of trading and investing.

Cursed Knowledge #29: Allergies Oct 11, 2024

Allergies. We either have them or know some one who does. Ranging from life threatening to mildly irritating, they're one of life's constant annoyances. And they're getting worse. We have more allergies now than ever before. Rusty Guinn joins Cursed Knowledge to talk about why allergies are more common, and if there's anything we can do about it.

Intentional Investor #14: Drew Dickson Oct 01, 2024

In this episode of The Intentional Investor, Matt Zeigler sits down with Drew Dickson, founder of Albert Bridge Capital. Drew shares his fascinating journey from self-proclaimed "world's least focused student" to successful investor and writer. Drew's journey illustrates the power of curiosity, relationships, and perseverance in building a meaningful career in finance. His story will inspire anyone looking to grow personally and professionally while navigating life's ups and downs.

Intentional Investor #13: Mike Green Sep 17, 2024

The Intentional Investor with Matt Ziegler welcomes Mike Green, a veteran investor and financial thinker. In this wide-ranging conversation, Green offers a candid look at his journey in the financial world, blending personal anecdotes with thoughtful analysis of markets and investing. His stories highlight the unpredictable nature of both markets and life, and the importance of continuous learning and adaptation. This episode provides a fascinating glimpse into the mind of a seasoned investor, offering lessons applicable to both financial markets and life in general.

Intentional Investor: #12 Jim O'Shaughnessy Sep 06, 2024

On this episode of the Intentional Investor, Matt Zeigler welcomes legendary investor and entrepreneur Jim O'Shaughnessy. Jim shares fascinating stories from his childhood, including memories of his influential grandfather, his early interest in magic, and how rejection shaped his mindset. The discussion covers Jim's journey into investing, his thoughts on education and critical thinking, and his experiences on Wall Street. Jim offers insights on topics like the power of journaling, the importance of empiricism, and his excitement for AI and new technologies.

Intentional Investor #11: Eben Burr Aug 22, 2024

Join Matt Zeigler as he sits down with Eben Burr, a financial professional with a fascinating journey from the D.C. punk rock scene to the world of behavioral finance. Eben shares his unique perspective on investing, shaped by his diverse experiences in music, architecture, and finance. In this episode, we explore: Growing up in Washington D.C. and its influence on Eben's worldview The parallel between punk rock and financial education Eben's transition from architecture to finance The importance of understanding client psychology in investing Strategies for effective risk management and client communication How music and finance intersect in Eben's approach to work and life Whether you're a finance professional, an investor, or simply curious about the intersection of diverse life experiences and career paths, this conversation offers valuable insights and a fresh perspective on intentional investing.

Breaking News #27: When Common Knowledge Trumps Reality Aug 15, 2024

In the latest episode of Breaking News, we are joined by Epsilon Theory Co-Founder Rusty Guinn. We cover the latest developments in the 2024 election and explore how narratives are shaping the political landscape. We delve into the transition from Biden to Harris and examine the strategic implications and how it's pushing us into what we're calling our first "vibe election." We also tackle the Fed's independence and the potential for rate cuts, regardless of who wins. In our Tweet of the Week, we examine how AI-generated images and rapid narrative formation are changing political discourse, potentially disconnecting us from factual reality. We wrap up with a surprising deep dive into Chumbawamba, using their story to reflect on the importance of folk culture and being "more mid" in our increasingly polarized world.

Intentional Investor #10: Grant Williams Aug 06, 2024

In this episode of The Intentional Investor, Matt Zeigler talks with Grant Williams, a veteran of the finance industry and creator of the popular newsletter "Things That Make You Go Hmmm..." Grant shares fascinating stories from his career journey, from trading Japanese equities in the 1980s to founding Real Vision. He discusses his approach to writing and interviewing, emphasizing the importance of building trust with an audience and focusing on quality content rather than chasing numbers. Grant also reflects on his experiences living and working around the world, the challenges of moving his family internationally, and his passion for sports. Throughout the conversation, he offers valuable insights on communication, community-building, and maintaining curiosity in both investing and life.

Breaking News #26: The Biden Harris Swap Aug 01, 2024

In this episode of Breaking News, we cover the recent developments in the Democratic party, with Biden stepping aside and Kamala Harris becoming the presumptive nominee. We discuss how reality seems to be proclaimed rather than acknowledged, and how both parties seem more interested in conflict than actual policy solutions. We also touch on the SEC's case against short-seller Andrew Left and the selective enforcement of rules in finance. We also debate the merits of giving green cards to foreign college graduates and how systems can be exploited by those with money. Finally, we explore the themes in Charlie XCX's album "Brat," relating it to the myth of Narcissus and broader questions of self-worth and community in our current cultural moment.

The Intentional Investor #9: Ryan Krueger Jul 23, 2024

In this episode of the Intentional Investor, Matt Zeigler speaks with Ryan Krueger, founder of Freedom Day Solutions. Ryan shares his journey from working at a baseball card shop as a child to becoming a successful financial professional. He discusses his philosophy on investing, which focuses on transparency, partnership with clients, and a unique approach to retirement planning called "Freedom Day." Ryan emphasizes the importance of trust, ethical practices, and long-term commitment in his business. He also touches on personal values, such as the influence of his family, his desire to make a positive impact, and his goal of continuing to work and grow rather than retire. Throughout the interview, Ryan's passion for helping others achieve financial freedom and peace of mind is evident, as is his dedication to building lasting relationships with his clients and team.

Breaking News #25: The Trump Assassination Attempt and Our Plunge Into the Great Ravine Jul 17, 2024

In this episode if Breaking News, we discuss the recent assassination attempt on former President Trump and explore its implications within the context of "The Great Ravine" - our term for the current period of political strife and violence. We analyze how media, technology, and politics intersect to shape public narratives, often transforming sadness into anger directed at opponents. We examine the rationality behind this behavior in closed political systems and discuss the challenges of maintaining critical distance. We also discuss the event's impact on the 2024 election and explore themes of nourishment and healing through an analysis of the TV show "The Bear."

The Intentional Investor #8: Wes Gray Jul 09, 2024

In this episode, Matt Zeigler speaks with with Wes Gray, founder of Alpha Architect and ETF Architect. Wes shares his fascinating journey from growing up on a ranch to pursuing a PhD in finance at the University of Chicago, serving in the Marine Corps, and eventually building successful businesses in quantitative investing and ETF infrastructure. He discusses key moments that shaped his career, including early experiences with investing, his time in academia and the military, and how he identified opportunities in the ETF space. Wes provides insights into his entrepreneurial approach, the importance of community and collaboration in investing, and how his businesses have evolved over time. The conversation covers a wide range of topics including quantitative investing strategies, ETF structures, and Wes's philosophy on building innovative financial businesses while maintaining a focus on family and work-life balance.

Breaking News #24: The Debate That Changed Everything | Joe Biden's Common Knowledge Moment Jul 03, 2024

In this episode of Breaking News we look at the impact of the presidential debate and the role it played in changing the common knowledge about President Biden's fitness for office. We explore the concept of common knowledge and illustrate how public perception shifts when everyone knows that everyone else knows something. We discuss the implications for the 2024 election, the role of media in shaping these narratives, and the potential fallout within the Democratic Party. Intertwining serious political analysis with lighter anecdotes, including a story about the Beastie Boys' early days, we emphasize the importance of community and shared understanding in navigating these turbulent times. Join us as we break down what's making us tick with clear eyes and full hearts.

The Intentional Investor #7: Rusty Guinn Jun 25, 2024

In this episode, Matt Zeigler talks with Epsilon Theory co-founder Rusty Guinn. Rusty shares his life journey, from growing up in rural Texas to working on Wall Street and eventually co-founding Second Foundation Partners. He discusses his experiences in finance, including roles in investment banking, private equity, and asset management. Rusty reflects on the lessons learned throughout his career, emphasizing the importance of humility, earnestness, and agency. He also talks about his decision to move to a farm in Connecticut, where he now balances his work in finance with homeschooling his children and running an apple orchard. Throughout the conversation, Rusty provides insights into the investment industry, personal growth, and the search for meaningful work and life balance.

Breaking News #23: Biden's Losing Narrative Strategy Jun 20, 2024

In this episode of Breaking News, we examine the current state of the 2024 US presidential election and how it is playing out in the narrative world. We explore the recent Trump trial and its minimal impact on public opinion, as well as growing concerns about President Biden's age and fitness for office. We then shift to reflections on our recent Epsilon Connect conference about being human in an age of AI, highlighting the importance of maintaining humanity and ethics in our use of technology. We also delve into the troubling state of higher education in America, particularly the exorbitant costs and increasing commercialization of college athletics.

The Intentional Investor #6: Daniel Crosby Jun 11, 2024

In this episode of The Intentional Investor, we sit down with Daniel Crosby, a clinical psychologist turned behavioral finance expert and author of the upcoming book "The Soul of Wealth." We explore Daniel's fascinating journey from punk rock bassist to leading voice in the world of investing psychology, discussing the importance of setting healthy boundaries, letting life's phases run their course, and the art of translating complex ideas into actionable insights. Join us as we dive into the power of narrative, the process of learning and unlearning, and the gift of being present in life's heaviest moments, all while uncovering the parallels between Daniel's work and our own mission to help people navigate the intersection of investing and life.

Epsilon Theory on Tape: Gell-Mann Amnesia Jun 06, 2024

"Briefly stated, the Gell-Mann Amnesia effect is as follows. You open the newspaper to an article on some subject you know well. In Murray's case, physics. In mine, show business. You read the article and see the journalist has absolutely no understanding of either the facts or the issues. Often, the article is so wrong it actually presents the story backward—reversing cause and effect. I call these the "wet streets cause rain" stories. Paper's full of them. In any case, you read with exasperation or amusement the multiple errors in a story, and then turn the page to national or international affairs, and read as if the rest of the newspaper was somehow more accurate about Palestine than the baloney you just read. You turn the page, and forget what you know."

The Intentional Investor #5: Perth Tolle May 28, 2024

In this episode of The Intentional Investor, host Matt Zeigler interviews Perth Tolle, founder of the Freedom Index and Life + Liberty Indexes. Perth shares her remarkable journey from growing up in China to launching a freedom-weighted emerging markets ETF strategy, which recently celebrated its 5th anniversary. She discusses her experiences with personal and economic freedom, the importance of objective data in the investment process, and the challenges she faced in bringing her vision to life.

Breaking News #22: Israel, Meme Stocks and the Rising Risks Across the Globe May 23, 2024

Risks are rising on a variety of fronts across the world. And market players are positioning themselves to profit before they are realized. In this episode of Breaking News, we take a tour of some of the major issues we face in the current challenging environment. We discuss the peculiar announcement by Ireland, Norway, and Spain recognizing the Palestinian state, the potential for total war in the Middle East, Rick Rieder's suggestion for interest rate cuts and the return of Roaring Kitty and the GameStop saga. We also cover President Biden's questionable housing proposal, and the lessons we can learn from Conan O'Brien's appearance on the YouTube show Hot Ones.

Epsilon Theory on Tape: The NFL Has a Gambling Problem May 20, 2024

The outcomes of NFL games are inordinately influenced by officials relative to other sports. This is not new. The narrative environment faced by the NFL in 2021, however, IS new.

The Intentional Investor #4: Bogumil Baranowski May 14, 2024

In this episode of The Intentional Investor, host Matt Zeigler is joined by Bogumil Baranowski to discuss the power of investing with a multi-generational mindset. Baranowski shares his personal journey from growing up in communist Poland to discovering the transformative potential of free market economies and property rights. We also discuss the importance of viewing wealth as a tree that can be planted, nurtured, and enjoyed by future generations and explore the value of community, education, and personal experiences in shaping one's perspective on investing and life.

Breaking News #21: Donald Trump and the Story the Media Isn't Telling May 09, 2024

In this episode of Breaking News, we explore a range of topics, from the lack of media coverage surrounding the billions of dollars funneled to Donald Trump through his social media company, to the pervasiveness of gambling and speculation in our society. We discuss the embedded wage-price inflationary environment and its potential impact on our fragile, optimized systems. Additionally, we delve into the creative process behind Kelly Clarkson's hit song "Since U Been Gone" and how it relates to the construction of pop stars, media stories, and political narratives.

The Intentional Investor #3: Howard Lindzon Apr 30, 2024

In this episode of The Intentional Investor, host Matt Ziegler interviews Howard Lindzon, the founder and CEO of StockTwits. Lindzon shares his journey from aspiring comedian to stockbroker, entrepreneur, and investor, highlighting the importance of mentorship, tight networks, and adaptability in the ever-changing landscape of business and technology. The conversation covers Lindzon's early investments in companies like Robinhood and eToro, the evolution of social media platforms like Twitter and YouTube, and the lessons he's learned from navigating bull and bear markets.

Breaking News #20: Hot Ones and Phony Wars Apr 25, 2024

In this episode of Breaking News, we examine the recent situation with NPR and how it relates to the concept of fiat news. We also delve into the current state of tensions between Iran and Israel and why we may see a 'phony war" in the coming months. Additionally, we examine the underwhelming sales of Tesla's Cybertruck and the broader decline of the EV narrative. We also have a dumb question about expansion of NATO and a Cultish Corner on Conan O'Brien's masterful appearance on the show "Hot Ones".

The Intentional Investor #2: Justin Castelli Apr 23, 2024

In this episode of the Intentional Investor, Matt Zeigler and Justin Castelli explore the intersection of life and investing, discussing the importance of aligning your financial plan with your personal values and vision. Justin shares his unique perspective on setting goals versus having a vision, emphasizing the significance of investing in experiences, relationships, and intellectual property rather than solely focusing on traditional financial metrics. The two discuss the role of financial advisors in helping clients live authentically and the potential for an abundance mindset within the financial system. Justin also touches on his aspirations to support others through creative ventures and the generational wisdom he hopes to pass down to his children.

Cursed Knowledge #28: Casual Gambling Apr 18, 2024

Gambling is a big deal. And everyone's got an opinion one way or another. It's had a pretty insane increase over the last few years. But what happens when Gambling becomes gambling? When it stops being a grand event and is instead a much more insidious and, well, casual thing. Spoiler Alert. Nothing good. It's now showing up everywhere. From sports, to finance, to politics, to videogames. It's rarely obvious gambling, and that's what we need to be worried about.

Men of God in the City of Man, Pt. 5: Epidemic Apr 18, 2024

Men of God prophesied as early as 2007 that God would make Donald Trump the President of the United States. Our narrative virus gave these predictions fertile ground to take root.

The Intentional Investor: Ben Hunt Apr 16, 2024

In this episode of The Intentional Investor, Matt Ziegler has a wide-ranging conversation with Ben Hunt, discussing Ben's journey from academia to finance and the pivotal moments that shaped his career. Ben shares his lifelong fascination with games, puzzles, and cracking codes, which eventually led him to the world of investing. They delve into Ben's experiences in academia, the lessons he learned from starting a software company, and his realization that fundamentals and value in investing are ultimately driven by narratives and game theory. Ben also discusses the genesis of Epsilon Theory, and his ongoing quest to find structure in unstructured data and stories. Throughout the conversation, they explore the interconnectedness of human, intellectual, social, and financial capital in shaping one's life and career.

Breaking News #19: Number Go Up For November Apr 11, 2024

In this episode we discuss how the upcoming November election is shaping the current political and economic landscape. We discuss why inflation, the stock market and the war in the Middle East are all being viewed through a political lens as the election approaches and those with a vested interest seek to influence its outcome . We also discuss the prevalence of conspiracy theories, the erosion of trust in institutions, and the importance of curiosity in a left brain focused world.

Breaking News #18: The Rise of Raccoons Mar 28, 2024

As anyone who has ever left their trash lid loose would know, racoons have a tendency to come in and clean up the leftovers. And they make a huge mess while they do it. That isn't the only place they exist, though. Raccoons also exist in the financial world, the self help world and a lot of other places. They come in and take what is leftover from what would otherwise be positive innovations and make a mess of them for their own benefit. In this episode, we take a detailed look at raccoons. We look at the tactics they use and how all of us can better spot them before they do their damage. We also discuss the danger of carved out inflation metrics, whether fundamental investing is dead, what steam boat operators have to do with finding your true self and a lot more.

Breaking News #17: The Rise of Financial Nihilism Mar 15, 2024

Younger generations today feel like they don't have a chance. Whether it be rising home prices or income and wealth inequality, they feel that they are starting with a significant disadvantage relative to older generations. One of the responses to this has been to resort to more aggressive gambling when it comes to their investments and their lives. Whether it be sports gambling or investing in riskier investments, some have sought to overcome their starting position by making risky bets. In this episode, we take a deep dive into this idea of financial nihilism and look at its real world implications. We also discuss Elon Musk's treason allegations against Joe Biden and also look at the amazing behind the scenes story of the creation of the song "We Are the World."

Breaking News #16: Technology and the Teenage Mind Feb 29, 2024

We all know that technology can be bad for children. But a new paper from 13D Research, which was republished on Epsilon Theory, really drove home the point of just how bad it can be be and the impact it has on the wirings of children's minds. In this episode, we discuss this research and what we can do as parents to help mitigate the damage technology is doing to our children. We also cover the election and the impact of Trump's legal problems, Elon's Musk's pay package Joe Biden's scripted press conferences and the importance of embracing difficulty.

Breaking News #15: Useful Idiots Feb 15, 2024

Over ten countries are currently engaged in hot wars in the Middle East. But you wouldn't know if from the media coverage where what has been going on has received limited attention. In this episode we dig into why that is. We also cover Tucker Carlson's recent interview with Vladimir Putin, Joe Biden's attempts to tackle shrinkflation and airline seating, why politicians from both sides have no interest in addressing the border and the importance of embracing your yellow pants moment.

Cursed Knowledge #27 Panera Lemonade Feb 09, 2024

Panera's in hot water over their charged lemonade. After building their brand on clean and healthy food, they're now facing several lawsuits claiming their lemonade caused permanent heart damage and even death. So what's really going on with the lemonade? And why is the story surrounding it so misleading?

Breaking News #14: Harvard Material Feb 01, 2024

Harvard has some of the most stringent admission standards of any university. Most people will never have the opportunity to receive a degree from this elite institution. But that doesn't mean you can't obtain your "graduate certificate" in fields like Museum Studies, Social Justice and Digital Storytelling all for the bargain price of $12,880 from the Harvard Extension School. Of course, Harvard won't accept these credits in its main programs and you can't get any federal loans for it, but you can tell your friends that you attended one of the world's elite institutions. In this episode, we discuss how things got to the point in our higher education system where programs like this exist and what can be done to fix it. We also cover the declining narrative of electric vehicles, the challenge of measuring inflation, Vivek Ramaswamy's master plan, 90s alternative music and a lot more.

Breaking News #13: The Curious Case of Claudine Gay Jan 18, 2024

Claudine Gay recently resigned as President of Harvard due to allegations of plagiarism. But the story behind that is far more important than the headline itself and gets at much bigger issues within the academic world, In the episode, we dig into those details. We also discuss what the recently launched ETFs mean for the future of Bitcoin, why attacks of hedge fund managers based on the carried interest deduction are misplaced, whether a soft landing is possible and the legacy of Dr. Martin Luther King.

Breaking News #12: The Aggrieved Trump 2024 Narrative Jan 04, 2024

The news about the election has been heating up recently. But it unfortunately has not revolved around the process of people voting to determine the outcome. The combination of Donald Trump's legal issues and efforts to remove him from the ballot in blue states have dominated the recent election coverage. In this episode, we tackle both of these issues and how they are playing out in narrative world. We also discuss the reporting around the recent ceremony in Iran to mark the anniversary of the death of Qasem Soleimani, why S&P 500 yearly forecasts still exist and what we can learn from Rick Rubin. We also all offer our New Year's resolutions for 2024.

Breaking News #11: Women and Risk: A Wall Street Narrative Dec 21, 2023

It is no secret that women are underrepresented in the finance industry. That is especially true with respect to the “risk-taking” roles that people tend to associate with a career on Wall Street. While there are many reasons for that, one of the primary ones lies in the stories we have been told in the media about women in finance. In this episode, we dig into those stories, how they influence us and how they also may offer us a potential solution to the problem. We also discuss the recent college president testimony in front of congress, Joe Biden’s tweets about inflation, the amazing story of the creator of Barbie and a lot more.

Cursed Knowledge #26: Singin' in the Rain Dec 14, 2023

Movie musicals are a Hollywood staple. A spectacle of dance, emotion, and music. Proving which Hollywood stars are actors only and which are true triple threats. But it turns out a lot of our favorite classics have been keeping some pretty big secrets. Including who's really singing.

Men of God in the City of Man, Part 4: Epimemetics Dec 13, 2023

Every narrative is built on memes that have evolved and adapted to human culture over centuries. But some environments change the way that those memes are expressed. The effects can be explosive.

Breaking News #10: The Story of Generative AI | Bringing the Power of Discovery Back to the People Dec 06, 2023

Generative AI has the power to become one of the most significant innovations any of us will see in our lifetimes. In fact, it may already be there. In this episode, we discuss the impact of this new technology on all of us and the world we live in,. We talk about what the technology is, how it works, the risks associated with it and its potential to shift the power of search and discovery from the hands of big tech companies to everyday people. We also discuss Ben's first reader context on Twitter, whether the Rock could win a presidential election, the role of major universities in our society and a lost, but now found Beatles song.

Men of God in the City of Man, Part 3: Memetics Dec 05, 2023

In the same way that genetics governs how physical viruses reproduce within a host, memetics governs how narrative viruses reproduce within a culture. And the memes which govern our narrative virus are powerful.

Cursed Knowledge #25: Truffle Hunting Dec 01, 2023

Truffles are well known to be one of the rarest, and most expensive, delicacies available. What's not known is the cutthroat world of truffle hunting. Where it's not uncommon to see fraud, theft, sabotage, and even murder.

Breaking News #9: Hold My Beer Nov 22, 2023

With primary season getting into full swing, there is a lot going on in the political world. Candidates are taking things up a notch with their aggressive tweets and comments to try to stay relevant as a Trump vs. Biden election seems more likely every day. And Trump and Biden themselves seem happy to sit back and stay out of the fray while enjoying their leads in the polls. In this episode, we break down the current state of election 2024. We discuss whether the primaries matter anymore and how things are playing out in narrative world. We also cover why inflation may not have been as low as it seemed in the most recent CPI report, whether Jack's pivot on Jared Kushner is warranted and the benefits of keeping a personal archive.

Cursed Knowledge #24: Hollywood Accounting Nov 17, 2023

We know that Hollywood is a multibillion dollar industry that shows no signs of slowing anytime soon. So then why do so many studios report that their movies failed? Especially when most of these movies are incredibly popular and by all accounts should be financially successful. Well turns out Hollywood has some tricks up their sleeves and, as The Producers taught us, under the right circumstances you can make more money with a flop than a hit.

Breaking News #8: When Narrative Doesn't Matter | The Israeli Strategy of Total War Nov 09, 2023

People traditionally look at war as something that is fought on a battlefield. And that is certainly true. But it is also fought in the world of narrative. The stories that are told by both the combatants in a war and other parties outside the war with a vested interest in its outcome can play a major role in how it plays out. In this episode, we look at the current Israel Hamas war through a narrative lens and how that is impacting the conflict.

Cursed Knowledge #23: Mega Disasters Nov 02, 2023

Earthquakes, storms, volcanos, oh my. It seems the earth is always trying to kill us one way or another. These are dangerous powerful spectacles that can literally reshape the world. It’s understandable that we’re so fascinated by them. But why aren’t we afraid of them?

Breaking News #7: When the Media Failed Us: The Changing Story of the Gaza Hospital Explosion Oct 26, 2023

There was an explosion in the vicinity of a hospital in Gaza. The media immediately began reporting on it. Major newspapers put out front page headlines. Television stations brought on experts to voice their opinions, But there was one major problem: much of the information that was reported as fact turned out to be wrong. In this episode, we dig into the incident to try to understand what happened in the reporting of this story, why it happened, and what it tells us about the way the media operates in our world today.

Cursed Knowledge #22: The Narrative of Reality TV Oct 20, 2023

Reality TV is a constant and ever growing part of pop culture. Everyone has a guilty pleasure show that they watch every week. It's created stars and scandals that have gained international attention. It's dominated the small screen for almost 30 years and the line between tv and reality has never been thinner.

Breaking News #6: Maintaining Optimism in a Polarized Political World Oct 12, 2023

The political world is becoming more polarized by the day. Whether it be on social media, in the news, or in the real world, extreme opinions continue to dominate any attempt to take a more balanced view. In our previous episodes, we have looked at why this is occurring, and why it is likely to get worse before it gets better. But that doesn't mean we should give up. There are many things those of us who don't want to give in to this polarization can do to better navigate this world and to find like minded people who also feel the same way. In this episode, we explore them and have an honest conversation about how all of us can be better citizens, and better people as the world around us becomes more challenging.

Cursed Knowledge #21: Invasive Species Oct 05, 2023

Invasive species are a known "bad thing". An organism that's introduced to an environment and ruins it. So why don't we do anything about them? Is there anything we can do?

Breaking News #5: Voldemort 2024! The Biden/Trump Rematch No One Wants Sep 28, 2023

Poll numbers show that the majority of Americans are not happy about the choice between Joe Biden and Donald Trump that we are likely to face in the next election. In this episode, we discuss how we got to this point. We look at the embedded problems in our political system that favor incumbents and how it has led us to where we are today. We also look at the political strategy used by incumbents and how they attempt to stave off upstart candidates by altering the system itself.

Cursed Knowledge #20: Airbnb Sep 21, 2023

Airbnb has reshaped how we travel and disrupted the hotel industry. But most of the stories from both guests and hosts reveal nothing but disasters. So what's really going on? What's the real story of Airbnb?

Breaking News #4: From Ross Perot to RFK Jr – The Evolving Narratives of Political Entrepreneurs Sep 14, 2023

In this episode, we take a deep dive into the tactics and tools used by upstart political entrepreneurs. Our political system is setup to heavily favor incumbents and candidates that are part of the political establishment. This presents an exceptionally difficult challenge for candidates who come from outside of that system. But social media and technology have given upstart candidates more tools at their disposal than they have ever had in history. And they are using them to both gain our votes and influence our opinions. We discuss how they do that and how all of us can maintain clear eyes and full hearts in the midst of their influence.

Cursed Knowledge #19: The Snappiest Place on Earth Sep 07, 2023

We live in a very safe world. And we've worked hard to make it safe. But sometimes we take that safety for granted. And sometimes we think that safety applies even when it really really doesn't.

Men of God in the City of Man, Part 2: Carriers Aug 31, 2023

Every virus needs carriers to spread. Even a narrative virus. We can learn a lot from what they have in common.

Breaking News #3 ESG, Vivek Ramaswamy and The Influence of Political Entrepreneurs Aug 31, 2023

Political entrepreneurs are all around us. They influence what we think. They influence how we think. But we often don't recognize it. In this episode, we pull back the curtain on the world of political entrepreneurs. We explain who they are, what they do and why they do it. We also look at what we can all do to protect ourselves from their influence.

Cursed Knowledge #18: The Bone Wars Aug 24, 2023

The Bone Wars. A decade long battle of ego between two dueling paleontologists. It's a tale of obsession, sabotage, and academic backstabbing. This clash of titans brought new attention to the theory of evolution and helped make dinosaurs the cultural juggernauts we know them as now.

Epsilon Theory on Tape: Men of God in the City of Man, Part 1: Virus Aug 24, 2023

This is a story about a virus and the gain-of-function research that produced it. It's not what you think.

Breaking News #2: The Drumbeat of Inflation Aug 17, 2023

High inflation was the story of the investing world in the past couple of years. But that has recently changed. The common knowledge around inflation has now shifted from one that high inflation is here to stay to one that inflation is over. But is that change premature? In this episode, we finish off our discussion from our first episode and head back to narrative world to discuss the current story of inflation and the risks it might present for investors going forward.

Cursed Knowledge #17: Frances Ethel Gumm and the Wizard of Oz Aug 10, 2023

Harper and Ben finally get a chance to talk about the Wizard of Oz and the not so wonderful behind the scenes production. Of course this was par for the course in the Golden Age of Hollywood as the studio star making system controlled everything. And we do mean everything.

Breaking News #1: The Water In Which We Swim Aug 03, 2023

Join Ben Hunt, Matt Zeigler and Jack Forehand as we break open the news to reveal the nudging language behind the headlines. Media bias is real, but not in the way you think. In our kick-off episode, Ben, Matt and Jack talk about why we're here - to break open the news reported by mainstream media to reveal the nudging language of narrative and story that drives us. We focus on the reporting of inflation as a perfect example of what we call Fiat News.

Cursed Knowledge #16: Women in Refrigerators Jul 27, 2023

A revamped Cursed Knowledge is back! This episode, Harper and Ben talk about the all too common trope of killing off female characters to motivate male characters. It's everywhere and it can tell us a lot about how hard it is to capture audience attention.

Epsilon Theory on Tape: An AI In The City Of God Apr 14, 2023

The City of Man always wins. The Visigoths always sack Rome. The Vandals always sack Hippo. Augustine always dies in the siege. Bad things always happen to good people ... at scale. Here's how we use generative AI to flip the script.

Epsilon Theory on Tape: Starry Eyes and Starry Skies Feb 09, 2023

The student loan crisis is a Big Deal. And it is only a part of a Bigger Deal: the Myth of College. This issue will be front-and-center in the upcoming elections. We will all be handed our very own 'Yay, College' signs to raise high. More often than not, we will be asked to raise them in service of market-distorting policies which will make our problems worse.

Epsilon Theory on Tape: The MacGuffin, Part 2: The Story Arc of SBF and FTX Dec 06, 2022

The MacGuffin is the object of desire. It is the thing around which the plot of the story revolves. Here is the story arc of SBF and FTX, and the MacGuffin that anchored it all - the Magical Money Machine.

Epsilon Theory on Tape: MacGuffin, Part 1: The Corrupt Crypto 'Revolution' Dec 06, 2022

If you don't see that the crypto "industry" has become just as blindingly corrupt, just as oozingly fatuous, just as profoundly captured by the Nudging Oligarchy as the traditional financial services industry it was supposed to replace ... well, you're just not paying attention.

Cursed Knowledge #15: Sir Edmund Hillary Thinks You're An Ass Oct 28, 2022

Mt Everest is a death trap. Everything about the mountain is designed to kill you. So why are so many people going up there? Why do we ignore the very real and very dangerous narratives that are right in our face.

Epsilon Theory on Tape: Notes From the Field Oct 05, 2022

What does farming have to do with investing? Quite a lot, actually. In this first of a series that takes on a life of its own, Ben discusses bees and bonds, eggs and ETFs, and more.

Epsilon Theory on Tape: The Goldfinch in Winter Oct 05, 2022

Part 2 of Ben's Notes from the Field series, in which he considers the question: what can a bird teach us about value investing? To everything there is a season.

Epsilon Theory on Tape: Horsepower Oct 05, 2022

There is no animal more important to the ascendancy of Western Civilization than the horse, and no invention more important than the horse collar. After all nothing shapes history like advances in productivity. Part 3 of Ben's Notes from the Field series here.

Cursed Knowledge #14: In Defense of Marie Antoinette Oct 03, 2022

Marie Antoinette has a rather interesting historical footprint. For all that her image is iconic and her reputation infamous, it's not all the truth. The real Marie Antoinette has been lost to the cartoon of Marie Antoinette™. So I want to show you a glimpse at the real person behind the cartoon and take a closer look at how her cartoon got started.

Cursed Knowledge #13: Subverting Censorship Sep 20, 2022

The Golden Age of Hollywood was full of drama. On and off screen. It was the age of carefully cultivated images. Fake names and secret procedures. And it was the age of censorship. The Hays Code and the censorship office had more influence on the film industry than any actor, director, or producer ever could. They had full control over what Hollywood made. Well, almost. There were still a few loopholes left to exploit.

Epsilon Theory on Tape: This is Why We Can't Have Nice Things Aug 29, 2022

Part 13 of the Notes from the Field series discusses the Narrative Machine, which can help us see the invisible memes that drive our political behaviors. Because you're smart enough to make up your own damn mind.

Cursed Knowledge #12: Resurrectionists Aug 24, 2022

What's in a name? Quite a bit actually. Names and titles can be all that's needed to make some one a hero or a villain. So we're looking at some villains who never got their proper title. People who were able to hide behind social standing and wealth to excuse their crimes.

Cursed Knowledge #11: Locks of Love Jul 26, 2022

Locks of Love is one of the most well known and well regarded charities in America. But things aren't always what they seem. Sometimes the smokescreen of common knowledge can obscure what's really going on. So join me in a look behind the curtain at America's most beloved charity.

Epsilon Theory on Tape: Hollow Men, Hollow Markets, Hollow World Jul 19, 2022

Over the past 25 years, our leaders have intentionally constructed an Apocalypse Now world of proclamation and fiat, where our wealth has grown much faster than our economy. The bill is due for their hubris, and inflation is here to collect it.

Epsilon Theory on Tape: A Song of Ice and Fire Jul 13, 2022

We are the human animal. We are non-linear. We ARE a song of ice and fire. It’s a song that has built cathedrals and fed billions and taken us to the moon. It’s a song that can do all of that and more … far, far more … if only we remember the tune. The Pack remembers.

Epsilon Theory on Tape: The Icarus Moment Jun 28, 2022

We live in a Cartoon Age, an era not of alienation per Karl Marx, but of alienation per Groucho Marx. What’s the cause, what’s the future, and what do we do about all this? It’s a TL;DR cri de coeur in Part 12 of Epsilon Theory's Notes from the Field series.

Epsilon Theory on Tape: Good Job! May 31, 2022

This is Part 11 of Ben's Notes from the Field series. I don’t need to calculate a Sortino ratio to know if my dogs are doing a Good Job. Same with active investment management. Same with active citizenship. It’s all about embracing Convexity, not as a mathematical cartoon, but as a philosophy.

Epsilon Theory on Tape: Too Clever By Half May 10, 2022

The inevitable result of financial innovation gone awry, which it ALWAYS does, is that it ALWAYS ends up empowering the State. When too clever by half people misplay the meta-game, that’s all the excuse the State needs to come swooping in and crush them, just as they are with Bitcoin today they did with Bear and Lehman in 2008. Installment #10 from Notes from the Field.

Epsilon Theory on Tape: The Three-Body Problem May 06, 2022

What if I told you that the dominant strategies for human investing are, without exception, algorithms and derivatives? I don't mean computer-driven investing, I mean good old-fashioned human investing ... stock-picking and the like. And what if I told you that these algorithms and derivatives might all be broken today? You might want to sit down for Part 9 of the Notes from the Field series.

Cursed Knowledge #10: This Podcast Never Happened Apr 21, 2022

We've all fallen victim to a bad retcon at some point in our lives. When the story we've been following takes a turn no one was prepared for and we have to act like it all makes perfect sense. It's Sherlock Holmes coming back from the dead. It's the reveal that an entire season of Dallas was only a dream. It's the author changing their mind and trying to convince you that it's all part of the plan. I don't buy it. And neither should you.

Epsilon Theory on Tape: Pecking Order Apr 12, 2022

The pecking order is a social system designed to preserve economic inequality: inequality of food for chickens, inequality of wealth for humans. We are trained and told by Team Elite that the pecking order is not a real and brutal thing in the human species, but this is a lie. It is an intentional lie, formed by two powerful Narratives: trickle-down monetary policy and massive student debt financing. Part 8 of the Notes from the Field series.

Epsilon Theory on Tape: Clever Hans Apr 05, 2022

Part 7 of Ben's Notes from the Field series reminds us that you don’t break a wild horse by crushing its spirit. You nudge it into willingly surrendering its autonomy. Because once you’re trained to welcome the saddle, you’re going to take the bit. We are Clever Hans, dutifully hanging on every word or signal from the Nudging Fed and the Nudging Street as we stomp out our investment behavior.

Epsilon Theory on Tape: Sheep Logic Mar 23, 2022

In Part 6 of the Notes from the Field Series, Ben observes that we think we are wolves, living by the logic of the pack. In truth we are sheep, living by the logic of the flock.

Epsilon Theory on Tape: The Arborist Mar 15, 2022

In Part 4 of the Notes from the Field Series, Ben identifies how the natural lines of a tree and shaping the tree to follow those lines over time is a lot like shaping a portfolio.

Cursed Knowledge #9: Cat Eyes, Full Ass, Can't Smile Mar 10, 2022

We've all felt insecure about our looks at one point or another. Especially in our chronically online world where how you look can be your whole brand. So with plastic surgery rates on the rise, let's peel back the layers of this industry and see how information (and lies) about procedures spread and examine the real price of beauty.

Cursed Knowledge #8: Bad Publicity Feb 07, 2022

Someone once said there's no such thing as bad publicity. With all due respect, this person is an idiot. Publicity, both good and bad, can have major ramifications. Even if you don't play a part in creating it.

Cursed Knowledge #7: Birkin Bags Jan 06, 2022

Birkin bags are one of the ultimate symbols of status. But how did that happen? And are they worth the hype?

Epsilon Theory on Tape: Always Go to the Funeral Dec 20, 2021

There’s a pose that very sick farm animals sometimes take when they’re near death, where they lie down and twist their head way back into their shoulder in a very unnatural way. It’s an odd sight if you don’t know what it signifies, a horrible sight if you do. Both the Republican Party and the Democratic Party are starting to twist their heads back into their shoulders. I don’t know if it’s too late to save them or not, but I’m increasingly thinking that it is. We need to start thinking about the funeral, who’s going to speak, and what they’re going to say.

Cursed Knowledge #6: F*ck Almonds Nov 16, 2021

Move over Hollywood! Almonds are one of the most lucrative and fastest growing industries in California. Unfortunately they're not as good for us as you'd think.

Cursed Knowledge #5: Hot Coffee Sep 02, 2021

The McDonalds Hot Coffee lawsuit is the archetypal example of nonsense litigation. But there's a lot more to the story than most people know.

Epsilon Theory #13: Wanting Aug 17, 2021

It's the only question that really matters here in the Age of Nudge: why do we want what we want? A conversation with Luke Burgis, author of Wanting: The Power of Mimetic Desire in Everyday Life.

Cursed Knowledge #4: Olympics Aug 16, 2021

The Olympic games are known as a time of triumph and glory. The truth is that a lot more work goes into creating and maintaining that narrative than you'd expect.

Cursed Knowledge #3: The Molassacre Jul 26, 2021

The Boston Molassacre was one of the great tragedies of the early 20th century. So why isn't it treated like one?

Epsilon Theory #12: Proof of Plant Jul 16, 2021

I want to change the language of crypto from mining to growing, and I don't mean in a metaphorical sense. This is a method for the tokenization of symbolic betting markets in positive social goods.

Cursed Knowledge #2: Harvey Weinstein and the Oscars Jul 05, 2021

Harvey Weinstein is a terrible person who did terrible things. But he doesn't get nearly enough credit, or more accurately blame, for his role in destroying the integrity of the Academy Awards and fundamentally altering how Hollywood makes movies.

Cursed Knowledge #1: The Fast Saga Jun 21, 2021

The Fast and Furious movies are famous for intense action and ridiculous plots. But the truth about how these stories get made has more to do with the drama happening behind the camera than in front of it.

Epsilon Theory #11: A Working Narrative Jun 16, 2021

We write a LOT about work. And the responses we get are ... weird. Once again, the most important narratives are the ones we tell ourselves.

Epsilon Theory on Tape: The Long Now pt 4 - Snip! May 24, 2021

The Long Now has severed the tether between taxation and spending – the most important policy relationship in our social lives. Here’s what we’re going to do about it.

Epsilon Theory on Tape: The Long Now pt 3 - Wink May 24, 2021

They have mastered the art of stealing our tells. At scale. Here’s how we resist. At scale.

Epsilon Theory on Tape: The Long Now pt 2 - Make Protect Teach May 24, 2021

It’s time to start a fire. To burn, yes, but also to illuminate. How? Make – Protect – Teach.

Epsilon Theory on Tape: The Long Now pt. 1 - Tick Tock May 24, 2021

The Long Now is the economic stimulus and the political fear that we pull forward from the future into the present. Tick-tock.

Epsilon Theory #10: In Praise of Bitcoin May 05, 2021

What made Bitcoin special is nearly lost, and what remains is a constructed narrative that exists in service to Wall Street and Washington rather than in resistance.

Epsilon Theory #9: Make, Protect, Teach Apr 22, 2021

How do we change the world? Not through corporations and political parties from the top-down, but through men and women of good will from the bottom-up. Not as an alienated flock, but as a cooperative pack. Not with abstractions and transactions, but with making, protecting and teaching. Let's gooooooo!

Epsilon Theory on Tape: Things Fall Apart, Part 4 Apr 12, 2021

Take back your vote. Take back your distance. Take back your data. How to make our way as citizens in a fallen world, with Clear Eyes and Full Hearts to make it better. Originally published November 19, 2018

Epsilon Theory on Tape: Things Fall Apart, Part 3 Apr 12, 2021

Part 3 of a four-part series on what it means to have a polarized electorate and a monolithic market. The Fed, China and Italy are the Three Horsemen of the Investment Semi-Apocalypse. There’s a Fourth Horseman. And it will change EVERYTHING about investing. Originally published October 24, 2018

Epsilon Theory on Tape: Things Fall Apart, Part 2 Apr 12, 2021

Part 2 of a four-part series on what it means to have a polarized electorate and a monolithic market. How do things fall apart in a monolithic market? Not with a bang but a whimper. Originally published September 4, 2018

Epsilon Theory #8: Leverage and Its Discontents Apr 02, 2021

Three fund collapses in three months, even as markets hit new highs. What do the Archegos, Greensill, and Melvin Capital blow-ups have in common? Leverage.

Epsilon Theory on Tape: Things Fall Apart, Part 1 Mar 23, 2021

Part 1 of a four-part series on what it means to have a polarized electorate and a monolithic market. Today’s note: the Age of Ridiculousness and the decline and fall of the American Empire. Originally published August 8, 2018

Epsilon Theory #7: Inflation Investing Mar 11, 2021

We're going to Pack-source a slate of investment strategies for an inflationary world. Here are five tentpoles to organize and support that effort.

Epsilon Theory #6: The Business of Wall Street Feb 25, 2021

Very little of investing today is buying and selling shares of common stock in individual companies. Instead, we buy and sell what Wall Street calls "products". Mutual funds, ETFs, options, REITs, SPACs, etc. Dave Nadig, who literally wrote the book on ETFs, helps us understand the history and future of the business of Wall Street.

Epsilon Theory #5: The Gnostic Nationalism Narrative Feb 16, 2021

Every political movement has a political philosophy, and for Trumpism and MAGA it’s the Dominion theology of the charismatic/Pentecostal church. Neither the rise of Donald Trump nor the attack on our Capitol can be understood without an examination of this faith and its constructed political narratives. Believe it or not.

Epsilon Theory #4: Hunger Games Feb 05, 2021

What's happening with Reddit and Gamestop and Robinhood is a revolution, but not the revolution you think. This isn't a "democratization" of Wall Street. You were played. Again. It's a revolution in Common Knowledge. And that changes everything. Again.

Epsilon Theory #3: The Ireland Event Jan 14, 2021

Rusty and I discuss the dramatic spike in Covid cases in Ireland over the last two weeks of December, and the risk of seeing a similar "Ireland Event" here in the US.

Epsilon Theory #2: Personal Finance Dec 24, 2020

A conversation with Brian Portnoy, author of The Geometry of Wealth, about the role of money in shaping a life of meaning. How do we give better advice about money to others ... and to ourselves?

Epsilon Theory #1: Bitcoin Dec 10, 2020

Can Bitcoin preserve its revolutionary potential after a Wall Street bear hug?

Epsilon Theory - Is Volatility Back? Feb 28, 2018

On this special episode of the Epsilon Theory podcast, we share an excerpt from a conference call we recorded on February 13 discussing our thoughts on the market selloff earlier in the month. You’ll hear from Christopher Guptill, co-CEO and chief investment officer at Broadmark Asset Management and Dr. Ben Hunt, author of Epsilon Theory.

Epsilon Theory - Make America Good Again Nov 15, 2017

On episode 26 of the Epsilon Theory podcast, we welcome back Rusty Guinn, our executive vice president of asset management, to talk about political markets — a topic just as important to Ben as capital markets. Be sure to also check out the companion pieces to this podcast on the Epsilon Theory website: “Always Go To the Funeral,” “Sheep Logic,” and “Before and After the Storm.”

Epsilon Theory - Failure to Inflate Oct 19, 2017

On episode 25 of the Epsilon Theory podcast, we’re joined by Peter Cecchini, Chief Market Strategist, Head of Equity Derivatives and Cross-Asset Strategy at Cantor Fitzgerald, to discuss one of his recent notes, “Failure to Inflate.” As Peter writes, “The theories that guide monetary policy fail to explain why growth and inflation remain so low in developed economies.” Tune in to hear why this is and what might bring about higher inflation.

Epsilon Theory - The Jukebox Theory Sep 21, 2017

We're back with episode 24 of the Epsilon Theory podcast! Ben shares his thoughts on the inflation narrative and a new idea reminiscent of C-SPAN to make politics at every level more transparent and engaging.

Epsilon Theory - Where’s the Punch Bowl? Jul 18, 2017

On episode 23 of the Epsilon Theory podcast, we’ve assembled the all-star team – Jeremy Radcliffe (Salient’s President), Rusty Guinn (Salient’s EVP of Asset Management), Neville Crawley (Founder & CEO of Engram Labs) and of course, Dr. Ben Hunt – to discuss whether we are at the inflection point when the proverbial punch bowl is taken away, and, as investors, what we do now.

Epsilon Theory - Does It Fly, Really? Jun 16, 2017

On episode 22 of the Epsilon Theory podcast, we’re in Las Vegas at the 2017 EQDerivatives conference. Both Dr. Ben Hunt and our guest, Devin Anderson, managing director in equity derivative sales at Deutsche Bank, were speakers at the event this year. In a nod to David McCullough’s 2015 book, The Wright Brothers, this episode explores whether the ubiquitous ideas floating around finance today actually have wings and can fly.

Epsilon Theory - 1999 v2.0 May 11, 2017

On episode 21 of the Epsilon Theory podcast, Dr. Ben Hunt is joined by Brad McMillan, CFA, CAIA, the chief investment officer at Commonwealth Financial Network®. Brad graciously hosts us at Commonwealth’s headquarters in Waltham, Massachusetts. Ben and Brad talk about their mutual love for Terry Pratchett, narrative causality, the French elections, and how technology is changing the financial advisory business.

Epsilon Theory - Change is in the Air Apr 17, 2017

By the time we got to episode 20 of the Epsilon Theory podcast, change was bound to happen. Coming to you from our New York office, Dr. Ben Hunt and producer Michael talk about changes to the Epsilon Theory website, Ben’s role, and the entire political system.

Epsilon Theory - Information, Please. Mar 28, 2017

On episode 19 of the Epsilon Theory podcast, Dr. Ben Hunt is joined by Rusty Guinn, Salient’s executive vice president of asset management. Picking up from their last conversation on fake news, Ben and Rusty consider the kinds of information that we have at our disposal and if we are asking the right questions in our analysis — or just searching for the answers we want.

Epsilon Theory - Big Data, Big Compute Mar 09, 2017

On episode 18 of the Epsilon Theory podcast, Dr. Ben Hunt is joined by Neville Crawley, the former CEO of Quid, Inc., a data intelligence software company based in San Francisco. Dr. Hunt and Neville speak about advancements in big data and big compute, and the potential to further impact investing.

Epsilon Theory - What Now? Feb 14, 2017

On episode 17, Dr. Ben Hunt is joined once again by Downtown Josh Brown. He’s an author, CNBC contributor, and CEO of Ritholtz Wealth Management. The last time Josh joined the podcast was right after the first presidential debate. With the election and inauguration behind us, now what? Ben and Josh take on the proposed 2017 Fed rate hikes, the potential impact of a higher dollar, and what matters most in investing.

Epsilon Theory - Alternative Facts Jan 24, 2017

A new year and a new president. On episode 16, Dr. Ben Hunt is joined by Rusty Guinn, executive vice president of asset management at Salient, to explore when the media morphed from agent to principal.

Epsilon Theory - Mailbag #2 Dec 23, 2016

On episode 15 and the last of 2016, host Dr. Ben Hunt answers listeners’ questions about the Eurozone and what’s next in Italy, OPEC, and rates.

Epsilon Theory - Richie Incognito Dec 08, 2016

On episode 14 of the Epsilon Theory podcast, Dr. Ben Hunt is joined by Salient President and Chief Strategy Officer Jeremy Radcliffe and co-CEO, Chief Investment Officer, and Portfolio Manager from Broadmark Asset Management, Chris Guptill. As they explore how a Trump presidency might be similar to Reagan’s presidency and what a “no” vote in Italy could mean for markets, Ben and Jeremy are in awe of Chris’s encyclopedic knowledge of market history.

Epsilon Theory - The Day After Nov 11, 2016

On episode 13 of the Epsilon Theory podcast, Dr. Ben Hunt is joined in San Antonio by Grant Williams, founder and publisher of Things That Make You Go Hmmm… and co-founder of Real Vision TV. It’s the day after the 2016 presidential election and time to explore how and why Trump won, what it might mean for markets, and where Dr. Hunt and Grant are turning their attention.

Epsilon Theory - Karnak Oct 27, 2016

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.

Epsilon Theory - Anthem! Oct 13, 2016

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.

Epsilon Theory - The First Presidential Debate Sep 29, 2016

On episode 10 of the Epsilon Theory podcast, Dr. Ben Hunt is joined by Joshua 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.

Epsilon Theory - Jubilee! Sep 14, 2016

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 deputy CIO Rusty Guinn to discuss Ben’s latest note, fiscal reform, and what to do as investors in volatile markets.

Epsilon Theory - Magical Thinking Aug 31, 2016

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 and why the Fed and other central banks display symptoms of this activity.

Epsilon Theory - Full House Aug 10, 2016

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 Rusty Guinn to talk journalism, the coup in Turkey, and election politics. Producer Michael Corrao concludes with a surprise for Ben to celebrate the three year anniversary of Epsilon Theory.

Epsilon Theory - Dungeons & Dragons Jul 27, 2016

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 about an observable shift among equity and fixed income investors, intellectual property, and Dungeons & Dragons.

Epsilon Theory - Reader Mailbag #1 Jul 12, 2016

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 to Epsilon Theory newsletters or this podcast on iTunes.

Epsilon Theory - Brexit Special Jun 30, 2016

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 vote. Dr. Hunt contends that “this is a Bear Stearns event and not a Lehman moment” and explains what he thinks could lead to a systemic shock to markets and the end of the Eurozone.

Epsilon Theory - Southern Accents Jun 03, 2016

On episode three of the Epsilon Theory podcast, host Dr. Ben Hunt is joined by Salient’s chief risk officer Rusty Guinn. Through anecdotes about Donald Trump, Mikhail Baryshnikov and David Mamet, they search for the elusive “true authenticity” in people, politics and finance.

Epsilon Theory - Crisis Of Faith Jun 03, 2016

On episode two of the Epsilon Theory podcast, hosts Dr. Ben Hunt and Jeremy Radcliffe examine why the once-trusted models in finance and politics are broken and what this means for central bank policy and the upcoming U.S. election.

Epsilon Theory - The Introduction Apr 22, 2016

In episode one of the Epsilon Theory podcast, hosts Dr. Ben Hunt and Jeremy Radcliffe discuss the origins of Epsilon Theory, how Dr. Hunt came aboard Salient in 2013, and why game theory can be used to more skillfully understand markets and politics.

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