Podcast appearances and mentions of Ben Hunt

Follow Last Call on Spotify⁠⁠Follow Last Call on Apple PodcastsIn this episode of Last Call, Jack Forehand and Matt Zeigler look past the headlines to unpack what really moved markets this month. From the viral AI end of times scenario that sparked responses from Citadel, Fed Governor Waller, and Jeremy Siegel, to the growing stress in private credit and the rotation out of US mega cap stocks, this is a different kind of market wrap. Instead of recapping what the S and P 500 did, we explore what investors are actually doing with their money, how narratives shape positioning, and what the data says about whether this time is different.Featuring Brent Kochuba of SpotGamma, Ben Hunt of Epsilon Theory, Rupert Mitchell of Blind Squirrel Macro, and Meb Faber of The Idea Farm, this episode dives into AI, software stocks, options flows, credit cycles, global equity markets, gold, and the power of base rates in investing.Main topics covered:The viral AI bear case scenario and why a fictional narrative moved real marketsHow investors should think in probabilities, bull cases, base cases, and bear casesWhat options pricing and put call ratios reveal about real fear versus social media fearThe state of software stocks and whether extreme bearishness may have marked a short term bottomPrivate credit stress, rising default risks, and why every credit cycle ends when lenders say no moreAn on the ground anecdote from San Francisco illustrating how refinancing risk is playing out in real timeThe rotation from US mega caps into international stocks and why fiscal spending matters for equity marketsGold and gold miners as potential beneficiaries of global liquidity and currency shiftsWhy base rates matter when evaluating explosive AI revenue forecastsHistorical lessons from the Nifty Fifty, Japan's bubble, the dot com era, and other periods when investors believed this time is differentPortfolio construction tools including diversification, rebalancing, and trend following in bubble environmentsTimestamps:00:00 Introduction and the AI end of times narrative02:16 Why investors are responding to fiction and what we can learn from it08:00 Brent Kochuba on options flows and software stock positioning13:00 Has extreme bearishness in software marked a bottom19:55 Ben Hunt on private credit and the boom bust cycle27:00 A San Francisco refinancing story and when lenders say no33:08 Rupert Mitchell on global markets, fiscal spending, and gold44:22 Meb Faber on base rates, bubbles, and this time is different01:00:16 How to track AI's real world impact in corporate dataIf you enjoy deep dives into investing, AI, market structure, credit cycles, global equities, and evidence based portfolio construction, be sure to subscribe to Excess Returns for more conversations like this.

Welcome to a Wide World of Sports update. A snapshot of the latest sport stories from the 9News team including: Justin Holbrook excited to get back in the hot seat as an NRL head coach Broncos halfback Ben Hunt says a lot to be learnt from their loss in the UK Matildas have entered camp in Perth The biggest sport stories in less than 5 minutes delivered twice a day, with reports from the 9News team across Australia and overseas. Subscribe now to make it part of your daily news diet.See omnystudio.com/listener for privacy information.

Welcome to a Wide World of Sports update. A snapshot of the latest sport stories from the 9News team including: Justin Holbrook excited to get back in the hot seat as an NRL head coach Broncos halfback Ben Hunt says a lot to be learnt from their loss in the UK Matildas have entered camp in Perth The biggest sport stories in less than 5 minutes delivered twice a day, with reports from the 9News team across Australia and overseas. Subscribe now to make it part of your daily news diet.See omnystudio.com/listener for privacy information.

Welcome to a Wide World of Sports update. A snapshot of the latest sport stories from the 9News team including: Justin Holbrook excited to get back in the hot seat as an NRL head coach Broncos halfback Ben Hunt says a lot to be learnt from their loss in the UK Matildas have entered camp in Perth The biggest sport stories in less than 5 minutes delivered twice a day, with reports from the 9News team across Australia and overseas. Subscribe now to make it part of your daily news diet.See omnystudio.com/listener for privacy information.

Brisbane Broncos star Ben Hunt joined Dean & Sofie on 4BC Breakfast to reflect on the team's narrow loss to Hull in the UK, blaming a slow start and costly first-half errors. He also shared his less-than-stellar experience with the freezing English weather and his strong reluctance to play off the bench.See omnystudio.com/listener for privacy information.

Subscribe to Two Quants and a Financial Planner on SpotifySubscribe to Two Quants and a Financial Planner on AppleIn this episode, we explore one of the most important but overlooked questions in investing: what is the purpose of your portfolio? Through a series of powerful clips and reflections from Aswath Damodaran, Meb Faber, Ben Hunt, Cullen Roche, Corey Hoffstein, Daniel Crosby, Larry Swedroe, and Wes Gray, we examine how goals like financial freedom, funded contentment, liability driven investing, retirement planning, and multi generational wealth shape the way we invest. This conversation goes beyond beating the market and focuses on preserving and growing wealth, reducing financial stress, aligning money with meaning, and defining what a life well lived truly looks like.Topics covered include:Why the end game of investing matters more than beating the marketPreserving and growing wealth vs trying to get richFreedom as the ultimate goal of financial independenceFunded contentment and what it means to live a life well livedLiability driven investing and matching assets to future needsThe difference between getting rich and staying richNeeds vs desires and understanding marginal utility of wealthRetirement planning and redefining success beyond a numberMulti generational wealth and thinking beyond your own lifetimeThe psychological impact of growing up with or without moneyFinancial freedom, stress reduction, and peace of mindTactical financial goals vs long term purpose driven investingEducation, legacy, and investing in the next generationWhy once you win the game you may not need to keep playingTimestamps:00:00 Aswath Damodaran on preserving and growing wealth10:04 Meb Faber on freedom, contentment, and the hedonic treadmill22:36 Ben Hunt on funded contentment and finding your pack28:23 Cullen Roche on risk as uncertainty of consumption33:25 Corey Hoffstein on liability driven investing and not worrying about money41:50 Daniel Crosby on financial freedom and living life on your own terms47:33 Larry Swedroe on needs vs desires and staying rich55:54 Wes Gray on big blue arrows, tactical goals, and peace of mind

In this episode, we explore one of the most important but overlooked questions in investing: what is the purpose of your portfolio? Through a series of powerful clips and reflections from Aswath Damodaran, Meb Faber, Ben Hunt, Cullen Roche, Corey Hoffstein, Daniel Crosby, Larry Swedroe, and Wes Gray, we examine how goals like financial freedom, funded contentment, liability driven investing, retirement planning, and multi generational wealth shape the way we invest. This conversation goes beyond beating the market and focuses on preserving and growing wealth, reducing financial stress, aligning money with meaning, and defining what a life well lived truly looks like.Topics covered include:Why the end game of investing matters more than beating the marketPreserving and growing wealth vs trying to get richFreedom as the ultimate goal of financial independenceFunded contentment and what it means to live a life well livedLiability driven investing and matching assets to future needsThe difference between getting rich and staying richNeeds vs desires and understanding marginal utility of wealthRetirement planning and redefining success beyond a numberMulti generational wealth and thinking beyond your own lifetimeThe psychological impact of growing up with or without moneyFinancial freedom, stress reduction, and peace of mindTactical financial goals vs long term purpose driven investingEducation, legacy, and investing in the next generationWhy once you win the game you may not need to keep playingTimestamps:00:00 Aswath Damodaran on preserving and growing wealth10:04 Meb Faber on freedom, contentment, and the hedonic treadmill22:36 Ben Hunt on funded contentment and finding your pack28:23 Cullen Roche on risk as uncertainty of consumption33:25 Corey Hoffstein on liability driven investing and not worrying about money41:50 Daniel Crosby on financial freedom and living life on your own terms47:33 Larry Swedroe on needs vs desires and staying rich55:54 Wes Gray on big blue arrows, tactical goals, and peace of mind

Johnny and Sam are back reviewing the Penrith Panthers, South Sydney Rabbitohs, The Storm and The Dolphins 2026 chances this year. Along with covering the World Club Challenge of Hull KR V's Brisbane Broncos.The boys also cover the Hass transfer and the new Origin Eligibility rule change that has finally brought it to the modern world.

Marto reveals who his one-way feud is with...after 30 years | The Croaky Choir regroup for a Ben Hunt Tribute | Aussie T20 team in shambles | What are the useless bench-cloggers? Marto reveals a new oneSee omnystudio.com/listener for privacy information.

In this episode of Excess Returns, we sit down with Neil Howe, author of The Fourth Turning Is Here and co-creator of the Fourth Turning generational framework, along with Ben Hunt of Epsilon Theory, to discuss where we are in the current cycle and what it means for markets, inflation, AI, capital flows, and America's long-term economic outlook. From the debasement trade and rising gold prices to global capital crowding out and the structural forces shaping productivity and growth, this conversation connects generational theory with real-world investing decisions. If you're thinking about inflation, deficits, AI capital spending, global diversification, or how to position defensively and offensively in a shifting macro regime, this discussion provides a powerful framework for navigating what may be a historic transition period.Topics CoveredThe Fourth Turning framework and where we are in the current crisis cycleWhy inflation is not a problem but a policy solution in major crisesThe collapse in US national savings and long-term deficit risksCapital flows, the debasement trade, and the future of the US dollarGold, commodities, and real assets in a regime shiftGlobal diversification and opportunities outside the United StatesAI capital spending, productivity gains, and the risk of overinvestmentCrowding out effects from government deficits and AI hyper scalingTrust, geopolitics, and the long-term implications for global marketsHealthcare, demographics, and structural investment themesDefensive and offensive positioning in a Fourth Turning environmentTimestamps00:00 Inflation as a solution and the generational crisis framework04:00 Explaining the Fourth Turning and historical crisis cycles12:55 Narratives, generational archetypes, and market behavior22:24 Is the Fourth Turning pessimistic or optimistic34:00 Inflation, gold, and the debasement trade40:00 Global capital flows and the reversal of US inflows50:00 AI capital spending and the K shaped capital markets55:09 Crowding out, deficits, and slow growth risks01:02:23 Defensive and offensive investment positioning01:09:31 Final thoughts on diversification, gold, and financials

Cem Karsan sits down with Ben Hunt, founder of Epsilon Theory, to explore how narratives shape markets, politics, and decision making itself. Drawing on decades of experience across academia, hedge funds, and applied AI, Ben explains why stories, not data, increasingly drive outcomes in modern markets. The conversation spans unstructured data, inference, common knowledge, and the mechanics of narrative momentum. Together, they examine consumer expectations, inflation silence, geopolitical signaling, and the slow shift away from US dominance. What emerges is a framework for understanding markets as reflexive systems, where perception often matters more than reality.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Cem on Twitter.Episode TimeStamps: 00:00 - Introduction to U Got Options and the trading floor setting02:18 - Ben Hunt's background and Epsilon Theory origins04:11 - Markets as the ultimate multiplayer game06:15 - Inference, unstructured data, and narrative analysis08:18 - Why sentiment and word counts miss the real signal11:16 - Mapping meaning and truthy stories15:00 - LLMs as operating systems, not oracles18:01 - Giving money back and when models stop working21:16 - Applying narrative tools beyond markets24:10 - Consumer weakness versus bullish expectations30:43 - Inflation, recession, and why markets do not care33:29 - Dormant stories and volatility discovery34:26 -

Follow Last Call on SpotifyFollow Last Call on Apple PodcastsJoin Jack Forehand and Matt Zeigler for the premiere episode of Last Call, a new monthly market wrap show where we go beyond the headlines to deliver actionable investment insights — and have a little fun along the way.Instead of focusing on index performance or short-term moves, we step back and connect the dots between macro instability, narrative shifts, options market signals, private credit risk, AI capital spending, and the changing nature of the Magnificent Seven.Featuring conversations with Brent Kochuba from SpotGamma, Ben Hunt from Perscient, Kai Wu from Sparkline Capital, and clips from our recent interviews with Liz Ann Sonders and Aswath Damodaran, the episode blends market structure, behavioral finance, valuation discipline, and long-term investing context to help investors understand what is really driving today's market environment — and how to think about it going forward.Main Topics:• Why this is not a traditional market recap and how Last Call is designed to be more useful for investors• Instability versus uncertainty — and why today's market feels different• Loss of trust in institutions, policy, and global systems and its impact on markets• What options market flows reveal about hidden market risks and sudden volatility• How private credit has reached bubble-like conditions and why narrative risk matters• The debate over retail and retirement account exposure to private credit• Why valuation discipline looks different when correlations rise across asset classes• Aswath Damodaran on trimming positions, raising cash, and the difficulty of finding uncorrelated assets• How the Magnificent Seven are changing from asset-light to asset-heavy businesses• AI capital expenditure, historical spending booms, and why infrastructure builders often underperform• Whether this AI cycle is truly different from railroads, telecom, and past technology boomsTimestamps00:00 — Intro and opening clips01:10 — What Last Call is and why this format exists04:30 — Instability versus uncertainty in today's market09:58 — Loss of trust, gold, and historical parallels13:18 — Brent Kochuba on options flows and hidden market stress25:17 — How options dislocations explain sudden market drops25:40 — Ben Hunt on private credit narrative risk28:00 — Why private credit exposure is everywhere32:32 — Retail access versus restrictions in private credit36:19 — What happens if the private credit bubble breaks39:28 — Aswath Damodaran on raising cash and trimming positions47:08 — The changing nature of the Magnificent Seven47:42 — Kai Wu on AI capex and asset-heavy tech50:48 — Why high capital spending often leads to underperformance56:01 — Historical parallels from railroads to the dot-com boom

Ben Hunt founded Epsilon Theory, a newsletter and website that examines markets through the lens of narrative. He talks trolling on the internet, how paid members/subscribers of platforms can poison your community, Venezuela, President Trump addressing the nation, when words stop meaning anything, and much more. PLEASE SUBSCRIBE LIKE AND SHARE THIS PODCAST!!!    Watch Show Rumble- https://rumble.com/v7376hi-narratives-used-to-justify-war-ben-hunt-of-epsilon-theory.html YouTube- https://youtu.be/-J9yzJsoR5I   Follow Me X- https://x.com/CoffeeandaMike IG- https://www.instagram.com/coffeeandamike/ Facebook- https://www.facebook.com/CoffeeandaMike/ YouTube- https://www.youtube.com/@Coffeeandamike Rumble- https://rumble.com/search/all?q=coffee%20and%20a%20mike Substack- https://coffeeandamike.substack.com/ Apple Podcasts- https://podcasts.apple.com/us/podcast/coffee-and-a-mike/id1436799008 Gab- https://gab.com/CoffeeandaMike Locals- https://coffeeandamike.locals.com/ Website- www.coffeeandamike.com Email- info@coffeeandamike.com   Support My Work Venmo- https://www.venmo.com/u/coffeeandamike Paypal- https://www.paypal.com/biz/profile/Coffeeandamike Substack- https://coffeeandamike.substack.com/ Patreon- http://patreon.com/coffeeandamike Locals- https://coffeeandamike.locals.com/ Cash App- https://cash.app/$coffeeandamike Buy Me a Coffee- https://buymeacoffee.com/coffeeandamike Bitcoin- coffeeandamike@strike.me   Mail Check or Money Order- Coffee and a Mike LLC P.O. Box 25383 Scottsdale, AZ 85255-9998   Follow Ben X- https://x.com/EpsilonTheory?s=20 Website- https://www.epsilontheory.com/   Sponsors Vaulted/Precious Metals- https://vaulted.blbvux.net/coffeeandamike McAlvany Precious Metals- https://mcalvany.com/coffeeandamike/ Independence Ark Natural Farming- https://www.independenceark.com/    

In this special episode, Adam Butler and Ben Hunt join Matt Zeigler to unpack one of the most charged debates in markets and economics today: whether our official statistics still reflect lived reality. Building on Mike Green's work and Adam Butler's essay The Bureau of Missing Children, the conversation moves beyond the technical definition of poverty to a deeper idea of economic precarity, the growing gap between what we measure and what people actually experience. Together, they explore debt, housing, childcare, labor mobility, AI, and the erosion of meaning in economic language, while wrestling with what policy, community, and human-centered solutions might look like in a world that increasingly feels unstable.Main topics coveredWhy the debate should focus on precarity rather than povertyThe disconnect between inflation statistics and lived experienceHow debt, housing, childcare, and education drive economic insecurityThe idea of a participation budget for modern family formationWhy labor mobility has broken down since the financial crisisHow asset prices and credit intensify risk for householdsThe role of grandparents and off-balance-sheet support in the economyDarwin's wedge, positional goods, and rising costs of everyday lifeThe impact of AI, technocracy, and anti-human incentivesCentralized versus decentralized solutions to today's economic challengesWhat it means to carry the fire and preserve human-centered valuesTimestamps00:00 Introduction and the emotional roots of the precarity debate02:00 Poverty versus precarity and what we are really measuring06:30 Technocrats, narratives, and the limits of economic statistics09:00 Personal experiences with precarity and debt15:00 The Bureau of Missing Children and family formation economics21:00 Modeling household income and participation budgets25:50 Rising costs of childcare, housing, and everyday life33:00 Darwin's wedge and positional competition36:45 Debt, housing, and labor immobility40:00 Grandparents, unpaid care, and off-balance-sheet subsidies46:30 How today differs from 40 or 50 years ago49:40 Labor mobility as a lost engine of opportunity55:00 Policy paths, mission-driven economics, and decentralization01:11:00 Visionary leadership versus bottom-up solutions01:15:50 Carrying the fire and preserving meaning01:17:30 Where to follow Adam Butler and Ben Hunt

Stephen Smith profiles the former racing driver and marketing guru who's turned around McLaren's fortunes and led them to Formula 1 glory. Born in California in 1971, friends and colleagues paint a picture of a fiercely competitive man with ‘noble intentions'.After dropping out of high school Zak Brown's life changed after meeting former F1 world champion Mario Andretti when he was 15. He traded watches he'd won on the Wheel of Fortune game show to buy a go-kart.Brown won races as a driver but never really hit the big time. He then set up the world's most successful motorsports marketing company before being lured to the F1 grid by McLaren in 2016. The team were in dire straits and in serious need of a cash injection. In less than 10 years, Brown has completely turned around the team's fortunes and led them to back-to-back constructors' championships. But will his refusal to favour one of his two drivers cost both of them the drivers' championship?Contributors: Mackenzie Astin - childhood friend Mario Andretti - former F1 champion Will Buxton - former F1 commentator, journalist, broadcaster Ben Hunt - motorsport journalist and author of Forever Forward Lawrence Baretto - F1 commentator Presenter: Stephen Smith Producers: Mhairi Mackenzie, Ben Crighton Production Coordinator: Maria Ogundele Sound: James BeardArchive: The Bottom LIne, BBC 5LIve Wheel of Fortune - CBS Sky Sport

In this episode of Excess Returns, Matt sits down with Ben Hunt to break down his new Epsilon Theory essay, World War AI. They explore how the US government, markets, and Big Tech are rapidly shifting the AI narrative from productivity and progress toward a national security arms race with massive implications for energy, capital, jobs, inflation, and the broader economy. Ben explains why AI buildout is consuming enormous resources, how this echoes World War II scale mobilization, why consumers are already feeling the strain, and what policies could still steer the country toward a healthier economic path.Topics covered:• Why the AI narrative flipped from optimism to national security• How AI CapEx creates shortages of energy, capital, and investment elsewhere• The parallels between AI buildout and World War II economic mobilization• Why the promise of AI-driven productivity and leisure was never realistic• The coming squeeze on consumers through higher prices and reduced availability• Why energy bottlenecks and electricity scarcity may lead to rationing• The risk of stagflation and a shrinking job base as AI replaces human labor• The political paths this could take, from authoritarianism to backlash• Ben's three-policy plan: reshoring, energy expansion, and electricity caps• How investors should think about the boom-bust risk of hyperscale growth• Why awareness and public conversation are essential before the window closesTimestamps:00:00 AI narrative shift and the failure of the carrot01:20 Measuring narratives through Perscient Pro05:30 Why Ben wrote World War AI07:30 The carrot vs. the stick in AI storytelling11:00 Utility bills, consumer squeeze, and rising economic pressures12:30 World War II-level spending and debt dynamics15:30 Crowding out the consumer economy17:00 Interest rates, borrowing, and capital shortages20:00 Energy usage, electricity scarcity, and cost-push inflation24:00 Rationing risk and historical parallels26:00 Jobs, productivity, and AI's impact on labor31:00 The lack of new job creation in an AI-driven economy33:00 Why new-tech job optimism does not apply here38:00 Market skepticism and narrative extremes41:00 Political risk, backlash, and potential future paths42:20 The three policies: reshoring, energy buildout, electricity caps49:30 Investment implications and the boom-bust cycle55:00 How AI growth must be subordinated to broader economic goals57:00 Why connecting consumer pain to AI buildout is essential59:30 Early signs of state-level limits on data centers01:02:00 Where to follow Ben Hunt and the continuing story

On this week's Stansberry Investor Hour, Dan and Corey welcome Ben Hunt back to the show. Ben founded Epsilon Theory, a newsletter with more than 100,000 readers that examines markets through the lens of narrative. He's also the president and co-founder of Perscient, an AI research firm and software company. Ben kicks things off by discussing the "credit polar vortex" that the U.S. is facing today. He says that all credit to the bottom 40% of the country has essentially been cut off, leaving companies in distress and everyday Americans in crisis. And he notes that financial crises are always born in the financial sector, so this is a problem no matter how well AI and tech stocks are doing. Ben goes in depth on how this looming crisis affects regional banks, and he compares what's happening now with what happened in 2007. Next, Ben talks about the Federal Reserve's role in all this and how it acts as a backstop for commercial banks. He points out that the alternative asset managers that don't have this backstop have been the ones making all the loans in the economy, so that's where the danger lies. This leads to a conversation about gold's usefulness as a safe haven, the potential for rampant inflation, and a few things that give Ben hope for the economic future, including manufacturing and reshoring. And he also covers the topic of energy generation in relation to AI and its possible damage to the economy. Finally, Ben shares how his investing outlook has changed over the years, thanks to fundamentals taking a backseat in importance to storytelling and narratives. He emphasizes that fundamentals still matter, but what's happening with the story is a bigger factor in making money in the market. As he says, it's value versus valuation. Ben then explains how he finds these stories regardless of the sector and how to track them. 0:00 A looming financial crisis; doomed regional banks; similarities with 200717:47 The Fed as a backstop; gold; manufacturing; AI vs. power generation46:38 Ben's investing outlook; how to profit from stories in the market1:08:15 Dan and Corey's final thoughts

On this week's Stansberry Investor Hour, Dan and Corey welcome Ben Hunt back to the show. Ben founded Epsilon Theory, a newsletter with more than 100,000 readers that examines markets through the lens of narrative. He's also the president and co-founder of Perscient, an AI research firm and software company. Ben kicks things off by discussing the "credit polar vortex" that the U.S. is facing today. He says that all credit to the bottom 40% of the country has essentially been cut off, leaving companies in distress and everyday Americans in crisis. And he notes that financial crises are always born in the financial sector, so this is a problem no matter how well AI and tech stocks are doing. Ben goes in depth on how this looming crisis affects regional banks, and he compares what's happening now with what happened in 2007. Next, Ben talks about the Federal Reserve's role in all this and how it acts as a backstop for commercial banks. He points out that the alternative asset managers that don't have this backstop have been the ones making all the loans in the economy, so that's where the danger lies. This leads to a conversation about gold's usefulness as a safe haven, the potential for rampant inflation, and a few things that give Ben hope for the economic future, including manufacturing and reshoring. And he also covers the topic of energy generation in relation to AI and its possible damage to the economy. Finally, Ben shares how his investing outlook has changed over the years, thanks to fundamentals taking a backseat in importance to storytelling and narratives. He emphasizes that fundamentals still matter, but what's happening with the story is a bigger factor in making money in the market. As he says, it's value versus valuation. Ben then explains how he finds these stories regardless of the sector and how to track them. 0:00 A looming financial crisis; doomed regional banks; similarities with 200717:47 The Fed as a backstop; gold; manufacturing; AI vs. power generation46:38 Ben's investing outlook; how to profit from stories in the market1:08:15 Dan and Corey's final thoughts

Ben Hunt returns to Excess Returns to break down the hidden risks building inside private credit and the parallels between today's “alternative asset managers” and the shadow banking system that triggered the 2008 financial crisis. Using the Godfather's Tessio as a metaphor for betrayal and broken trust, Ben explains how opacity, leverage, and narrative collapse can turn small defaults into systemic crises. He and Matt Zeigler explore what's really happening beneath the surface of private markets, how common knowledge shifts shape investor behavior, and how Perscient Pro's “storyboards” and “semantic signatures” help track the narratives driving markets in real time.Main topics coveredWhy Ben believes we're at a “trust-breaking” moment similar to 2007The Godfather analogy and what frauds reveal about human behaviorHow private credit has evolved into today's “shadow banking” systemFlow machines, hidden leverage, and why opacity is intentionalThe dangers of informational asymmetry between investors and lendersHow broken trust creates chain reactions in financial systemsThe link between narrative collapse and liquidity crisesCommon knowledge, crowd reactions, and market psychologyDoom loops between Wall Street and the real economyHow Perscient Pro tracks financial narratives using semantic signaturesWhy gold's current rally is about safety, not debasementWhat investors should monitor next in credit, housing, and macro narrativesTimestamps0:00 Hidden leverage and the trust problem1:04 Introduction to Ben Hunt and Epsilon Theory2:12 The Tessio analogy – betrayal and the structure of fraud6:10 How private credit became today's shadow banking system10:55 Flow machines and why opacity is intentional14:48 Trust breaks and the “funding stops first” dynamic18:35 The Biden “common knowledge” moment explained21:00 What happens when narratives collapse24:26 Apollo, asymmetric information, and shorting First Brands28:00 Hidden leverage and the domino effects of default33:40 The “doom loop” between Wall Street and the real economy39:10 Why Silicon Valley Bank was different44:18 What a “run on Wall Street” could look like48:00 Perscient Pro and tracking financial storyboards53:32 Semantic signatures and narrative detection57:10 Housing, inflation, and gold storyboards1:00:48 Where to follow Ben Hunt and learn more about Perscient Pro

Catch up on all the Rugby League news from NRL 360, Monday 5th of October, with hosts Braith Anasta and Gorden Tallis. Buzz Rothfield and Brent Read join the boys for the final show of the year, as they review the 2025 NRL Grand Final. Tallis reacts to the Broncos finally breaking their premiership drought after one of the greatest finals runs of all time led by superstar Reece Walsh, the ten-year redemption of Ben Hunt and what is next for the Melbourne Storm after back to back Grand Final losses. For more of the show, tune in on Fox League CH 502 or stream full episodes on KAYO.See omnystudio.com/listener for privacy information.

COP THE NEW BYE ROUND JERSEY: https://thebyeround.com/products/bye-round-x-classic-jersey James Graham & Gorden Tallis are in to review all the chaos and drama from an unforgettable 2025 NRL Grand Final. From Reece Walsh’s herculean performance to Ben Hunt’s redemption story 10-years in the making to Michael Maguire proving his critics wrong, we cover it all! Email: thebyeround@gmail.com Ladbrokes: https://www.ladbrokes.com.au/ Hyundai: https://www.hyundai.com/au/ Become A Bye Round Classic VIP: https://classicsports.com.au/pages/thebyeround Cover-More's Las Vegas Comp: https://covermore-experiences.com/nrl-vegas/ Follow The Bye Round On: Instagram: https://www.instagram.com/thebyeround/?hl=enTikTok: https://www.tiktok.com/@thebyeround?lang=enYouTube: https://www.youtube.com/@thebyeroundListen On Spotify: https://open.spotify.com/show/4UkvzTvKsY2shwMsbDiagaListen On Apple: https://podcasts.apple.com/au/podcast/the-bye-round-with-james-graham/id1629371037See omnystudio.com/listener for privacy information.

Braith Anasta joins Sauce and Maroon for the 2025 Grand Final edition of DSL! Will the Broncos win and Ben Hunt redeem 2015? How will the big four cope with Finals pressure at the Storm and Braith and Sauce share their best Mad Monday memories!See omnystudio.com/listener for privacy information.

Cameron Munster has endured a rollercoaster of emotions in 2025. Away from the game, he's lost his father, on the field he's scaled incredible heights. His storyline is just one thread in a rich tapestry of narratives that shape the NRL Grand Final. Ben Hunt's redemption quest, Michael Maguire on the cusp of greatness, Jharome Hughes playing through immense pain. This decider could be a sports movie and shapes as a game for the ages. Featured: Nick Campton, NRL writer, ABC Sport.Subscribe to the ABC Sport Newsletter

Billy and Peter Psaltis dive into Grand Final week 2025 thanks to TAB. Breaking down every player position battle, Brisbane’s comeback habit, Melbourne’s spine fitness, and the kicking game that could decide it. They revisit the prelims, answer your questions (that Walsh-Reynolds kick!), relive all-time GF moments, and lock in predictions for both the NRL and NRLW deciders - plus a quick look at Bears v Warriors in the State Championship. 00:00 - Welcome 02:00 - Prelims recap 07:00 - What will we be expecting from both teams 08:45 - Pap vs Walsh 12:45 - Halves battle 15:00 - Forwards 17:00 - Stefano comments 18:30 - Ben Hunt 10 years on 20:00 - Kicking game 23:00 - Outside backs: Staggs vs Coates 27:00 - State Championship: Warriors vs Bears 27:40 - NRLW: Roosters vs Broncos 29:35 - Billy’s best finals players (prelims) 34:30 - Listener questions Walsh-Reynolds goal kicking situation 36:30 - Ampol Power Surge Greatest grand final moments 43:00 - Predictions GF winners See omnystudio.com/listener for privacy information.

Catch up on all the Rugby League news from NRL 360, Monday September 30th, with hosts Braith Anasta and Gorden Tallis. The NRL 360 panel dives deep into the big talking points ahead of the Grand Final. The boys break down Michael Maguire's bold call to keep Ben Hunt at six, with Ezra Mam coming off the bench for that extra flair. They also discuss why Ashley Klein was axed from the Grand Final role and why Grant Atkins is the perfect fit for the job. Finally, the panel explores how the Penrith dynasty both started and ended with Adam Reynolds, completing a full-circle story. For more of the show, tune in on Fox League CH 502 or stream full episodes on KAYO.See omnystudio.com/listener for privacy information.

Catch up on all the Rugby League news from NRL 360, Thursday September 25th, with hosts Braith Anasta and Paul Crawley. Braith and Paul are joined by Brent Read and Michael Carayannis to chat through the pressure on the Broncos senior playmakers ahead of their preliminary final against the Panthers. The boys also touch on the Storm's decision to bring back Jahrome Hughes for the preliminary final. For more of the show, tune in on Fox League CH 502 or stream full episodes on KAYO. See omnystudio.com/listener for privacy information.

Extra, extra time. A Reece Walsh headbutt. Multiple sin bins. A disallowed, match winning try. A Ben Hunt redemption subplot. It was utter chaos in Canberra and the repercussions are enormous for the NRL finals picture as top ranked Canberra heads for elimination week and the Broncos head for a home preliminary final. We unpack a wild clash full of flow on effects. Featured: Brett Sprigg, ABC NRL commentator. Subscribe to the ABC Sport Newsletter

Catch up on all the Rugby League news from NRL 360, Tuesday September 9th, with hosts Braith Anasta and Gorden Tallis. Braith and Gorden are joined by Paul Crawley and Dean Ritchie to discuss the mega clash between the Canberra Raiders and the Brisbane Broncos and what possible mind games coaches Ricky Stuart and Michael Maguire might be trying to pull off. The panel then discusses Reece Walsh's blistering form ahead of finals and if replacement halfback Ben Hunt is the reason behind this great spell of form. The boys then chat through the reports that Laurie Daley is in talks to become a sounding board for Anthony Seibold at Manly. For more of the show, tune in on Fox League CH 502 or stream full episodes on KAYO.See omnystudio.com/listener for privacy information.

With the finals race heating up, Billy breaks down what it takes for a team to be successful in the final stages of the season. He gives his fiery take on Des Hasler's sacking, why he believes Josh Hannay is "as good a coach as anyone" and praises the incredible match-winning effort from Ethan Strange. Plus, Billy celebrates Ben Hunt and DCE's 350th games, hands out his weekly Billy M Awards, and reveals his top three moments of the weekend. The Billy Slater Podcast with Billy and Peter Psaltis thanks to TAB - For the best time in sport, TAB has the best app in sport. TAB, We’re On. Send through your questions to Billy billyslaterpodcast@nine.com.au 00:00 - Welcome 02:00 - Des Hasler sacked, Josh Hannay in 08:00 - The miracle in Mudgee 17:00 - Race for the top 4 20:00 - Tigers Cowboys 22:30 - Roosters final 2 weeks 26:00 - Ben Hunt’s 350th and Broncos win 31:00 - DCE’s 350th and Manly win 33:15 - Billy M Awards 36:20 - Listener Questions Storm cohesion Best grounds Most entertaining season 42:30 - Ampol Power Surge Top 3 moments from the weekend 45:00 - Round 26 tips and previewSee omnystudio.com/listener for privacy information.

With Daly Cherry-Evans and Ben Hunt set to play their 350th NRL games on the same weekend, who has had a better career and do both deserve to enter the Hall of Fame? The tactics players are using to bend the rules on the eve of the finals is under the microscope, plus the latest on Josh Papali'i and Sandon Smith's futures in the Rumour Mill.See omnystudio.com/listener for privacy information.

On this episode of the Alpha Exchange, I was joined by Ben Hunt, Co-founder and CIO of Perscient. Ben has built his career around one powerful idea: that the stories we tell—whether in politics, markets, or everyday life—shape our behavior far more than we realize. In the mid-2000s, entering Wall Street from outside its traditional ranks gave him a rare vantage point. He wasn't steeped in the bullish narrative flow that dominated the industry. With an outsider's perspective—and an ability to read the “language” of mortgage-backed securities—he was able to see flaws at the heart of a $10 trillion asset class well before the global financial crisis hit.In our conversation, we explore how understanding narrative structure can illuminate risk in ways models cannot, and why being outside the story sometimes lets you see it most clearly.  In this context, we chat as well about Ben's creation of the Epsilon Theory, a widely read exploration of how narratives drive markets. I have personally found his writing thought provoking. On markets, Ben is not optimistic that our political system is up for the challenge of reigning in the unwieldy debt and sees the potential for some combination of higher rates and a lower dollar as a result. Today, through Perscient, a venture he co-founded, Ben is applying AI-driven tools to map and measure narratives in real time, helping investors see the hidden storylines moving markets.I hope you enjoy this episode of the Alpha Exchange, my conversation with Ben Hunt.

Broncos star Ben Hunt has revealed the simple message he gave teammate Selwyn Cobbo after he starred in his return last night in the club's thrashing over Souths at Suncorp Stadium.See omnystudio.com/listener for privacy information.

LISTEN and SUBSCRIBE on:Apple Podcasts: https://podcasts.apple.com/us/podcast/watchdog-on-wall-street-with-chris-markowski/id570687608 Spotify: https://open.spotify.com/show/2PtgPvJvqc2gkpGIkNMR5i WATCH and SUBSCRIBE on:https://www.youtube.com/@WatchdogOnWallstreet/featuredIn a world saturated with distraction and denial, we've buried our heads in the sand—ignoring famine in Gaza, massacres in Syria, and the global rise in Christian persecution while obsessing over celebrity gossip and stadium kiss cams. From Epstein's vanishing trail of victims to Podesta's grotesque art collection, nothing shocks us anymore—because evil no longer hides. Drawing on Ben Hunt's powerful piece Before the Flood and the haunting realism of Full Metal Jacket, this segment calls out the moral rot, the media silence, and the cultural numbness that define our time. The mask is off. The question is: are we still willing to look? www.watchdogonwallstreet.com

After 20 years of service as Team Principal of Red Bull Racing, Christian Horner has been sacked by the team with immediate effect, with Laurent Meikes replacing Horner as Red Bull CEO, and Alan Permane taking Meikes' job as Racing Bulls Team Principal. In a special edition of the James Allen on F1 Podcast, James is joined in the studio to analyse the news with our correspondents Ronald Vording, Christian Nimmervoll and Ben Hunt to analyse what led to Horner's sacking, what role Max Verstappen and his camp may have played in the decision, and what it means for Red Bull, Racing Bulls, and maybe even Ferrari in the future… Learn more about your ad choices. Visit podcastchoices.com/adchoices

Buzz Rothfield joins Brent Read and Charlie White on the eve of an Origin decider to preview the big game. Which coach is under more pressure if they lose? Ready isn’t confident in Laurie, but Buzz has his back. We look at the troubles Wayne and the South Sydney Rabbitohs have faced in 2025 - they now sit equal last on the ladder, and the injury/poor recruitment list keeps getting bigger. Buzz isn’t happy with how Gus has "blown up" the Bulldogs roster. Off the back of a fiery NRL 360, the journos go head-to-head again over the matter. We look at the Broncos - will Ben Hunt be back this week? And of course, your (second) favourite mail segment, "Ready's Mail," is back by popular demand and he has the scoop on the Tigers!See omnystudio.com/listener for privacy information.

Buzz Rothfield joins Brent Read and Charlie White on the eve of an Origin decider to preview the big game. Which coach is under more pressure if they lose? Ready isn’t confident in Laurie, but Buzz has his back. We look at the troubles Wayne and the South Sydney Rabbitohs have faced in 2025 - they now sit equal last on the ladder, and the injury/poor recruitment list keeps getting bigger. Buzz isn’t happy with how Gus has "blown up" the Bulldogs roster. Off the back of a fiery NRL 360, the journos go head-to-head again over the matter. We look at the Broncos - will Ben Hunt be back this week? And of course, your (second) favourite mail segment, "Ready's Mail," is back by popular demand and he has the scoop on the Tigers!See omnystudio.com/listener for privacy information.

Stuart Codling sits down with Filip Clereen and Ronald Vording to review a climatic Canadian Grand Prix, with Lando Norris' late hit on Oscar Piastri dominating the headlines. Included in the video is a live reaction from Sunday night from Mark Mann-Bryans and Ben Hunt from trackside, and debate amongst themselves on whether Norris should have been penalised, and whether he's cracking under the pressure of his World Championship fight. Also included, the speculation in the Ferrari camp with Fred Vasseur reported to be on the hot seat, the control in George Russell's brilliant victory, and the delays in the steward's office, with the final result only confirmed nearly six hours after the flag dropped. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Kevin Turner sits down with Jake Boxall-Legge, Stuart Codling and Ben Hunt to preview this weekend's Emilia-Romagna GP, in what could be the final Grand Prix at the iconic Imola circuit. With its contract status up in the air, has F1 outgrown the track? Also included in our preview - Is it too early for McLaren to play team orders with the threat of Max Verstappen still looming? There's more insight to Ferrari's struggles, as well as Ben discussing the state of Williams coming off their strongest weekend since James Vowles took over. And finally, on F1's 75th Anniversary, what are our journalists favourite F1 races? Learn more about your ad choices. Visit podcastchoices.com/adchoices

In this episode, we dive deep into some of the most thought-provoking ideas from two of the most original minds in investing: Ben Hunt and Grant Williams. Through a curated selection of powerful clips, we explore how markets have transformed from mechanisms of capital allocation to platforms of narrative and speculation. Ben and Grant challenge conventional wisdom, question the stories we tell ourselves about investing, and propose frameworks for navigating a radically different market landscape going forward. Whether it's the evolution of CEO incentives, the lifecycle of narratives, or why staying rich is harder than getting rich, this episode is packed with timeless insights.Topics Covered:Why what worked for 40 years may not work anymoreThe market as a political utility and what that really meansThe disconnection between stock prices and real businessesHow narratives shape market behavior and pricesThe language of growth vs. value in investingThe CEO's evolving role as a storytellerUsing the narrative lifecycle as an investment frameworkSpeculation vs. investing and how to tell the differenceHow Ben Hunt applies the minimax regret framework to life decisions

Mark Mann-Bryans and Ben Hunt sit down to discuss the weekend so far for the 2025 Miami Grand Prix from the Hard Rock Stadium in Florida. It's been a hectic weekend so far, with Kimi Antonelli making history as the sports youngest ever pole-sitter in any format. Ben and Mark discuss the incredible achievement at length and talk about the vindication it may provide inside Mercedes. The Sprint is discussed at length as well, with Lando Norris taking advantage of a late Safety Car to beat Oscar Piastri out of the pits in a chaotic wet to dry race, delayed by a wet circuit. There's also a chat about Max Verstappen finishing last after receiving a 10-second time penalty for an unsafe release in the pits. The conflicting emotions of Lewis Hamilton come to the forefront as well after taking advantage of an early tyre change to finish third in the Sprint, only to be eliminated in Q2 for Grand Prix qualifying, with old rival Verstappen on pole. The pair preview tonight's Grand Prix and who could win the race to Turn 1. Learn more about your ad choices. Visit podcastchoices.com/adchoices

The Forbidden Documentary: Doors of Perception official trailer

Ben Hunt and Emily Selleck wrap up their coverage of the Australian Grand Prix from Albert Park as Lando Norris would take a victory by less than a second ahead of Red Bull's Max Verstappen. Ben and Emily chat about the battle at the front, including the Norris/Verstappen fight at the beginning and end of the race, and the key role Oscar Piastri played in the battle, coming so close to the lead before a spin in the grass late dropped him down the field, only managing a late comeback to ninth. There's also a chat about Lewis Hamilton's first race in red and some of his communication issues over the radio, and a tough day for rookies Isack Hadjar, Ollie Bearman and Gabriel Bortoleto. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Ben Hunt and Filip Cleeren report from the paddock after Practice Friday at the Australian Grand Prix. Between them, they analyse the battle at the front of the field as Charles Leclerc topped both practice sessions ahead of the McLarens, with the latter still looking strong regarding race pace. There's also a discussion on where Red Bull fit in, and Lewis Hamilton's early struggles compared to his teammate. There's also a review of the rookies' first day, with some strong laps for Racing Bulls' Isack Hadjar, Kimi Antonelli and Liam Lawson trying to find confidence, and Ollie Bearman's big crash in FP1 ending his day early. Learn more about your ad choices. Visit podcastchoices.com/adchoices

In a thought-provoking return for The Narrative Game, Dr. Ben Hunt and I engage in a candid conversation about the soul of America, exploring the unsettling trends eroding the nation's moral compass. We dissect the alarming shift toward prioritizing power, efficiency, and leverage over traditional values like justice, liberty, and the common good and together we paint a picture of a society inching closer to totalitarianism, grappling with the rejection of the ideal that the U.S. should be a moral force on the world stage. Beyond the diagnosis, we offer potential paths forward in these challenging times, as our discussion delves into the importance of building strong, trusted communities and finding solace in religion and spirituality, even for those who may not consider themselves traditionally religious. We highlight the urgent need to combat the erosion of community and shared values, fostering integrity and purpose amidst the rising tide of polarization and cynicism. This episode is a call to action, urging listeners to seek deeper connections and moral guidance to navigate the turbulent waters ahead. Every episode of the Grant Williams podcast, including This Week In Doom, The End Game, The Super Terrific Happy Hour, The Narrative Game, Kaos Theory and Shifts Happen, is available to Copper, Silver and Gold Tier subscribers at my website www.Grant-Williams.com.  Copper Tier subscribers get access to all podcasts, while members of the Silver Tier get both the podcasts and my monthly newsletter, Things That Make You Go Hmmm… Gold Tier subscribers have access to my new series of in-depth video conversations, About Time.

Alex Kalinauckas and Ben Hunt return to report from Day 2 of F1's 2025 test at the Bahrain International Circuit. In the video, Alex mentions the three teams that impressed him most, featuring McLaren's eye-catching long-run pace, Aston Martin's newfound consistency across the day, and Williams topping the lap and timing sheets via Carlos Sainz. There's also a reaction to Max Verstappen's playful response to the booing he faced at F175 Live, where Red Bull stood as a team on Day 2, and the team's lack of preparation when the rain fell on Thursday morning.  Learn more about your ad choices. Visit podcastchoices.com/adchoices

Alex Kalinauckas and Ben Hunt report from the Bahrain International Circuit to wrap up Day 1 of testing for the 2025 Formula 1 Season. In the review, Alex and Ben talk about the ease with which McLaren has settled into the opening day as reigning Constructors Champions, including a little prank on the TV crew. Mercedes is mentioned with Kimi Antonelli's impressive first day, leading the morning session, and Red Bull with a spin for Liam Lawson, and some trips off-road for World Champion Max Verstappen. There are also positives for Isack Hadjar in the V-CARB RB, and why Ollie Bearman might be in for a tough rookie season at Haas. Learn more about your ad choices. Visit podcastchoices.com/adchoices

F1 went all out to celebrate its 75th Anniversary season, and Autosport was in attendance for the F175 Live show from the O2 Arena in London. In a special podcast, Alex Kalinauckas and Mark Mann-Bryans went through the entire day reporting on the event, including the early morning press conferences with *most* of the teams, as well as highlights of the event itself, with Ben Hunt interviewing fans after the event was over and hearing their opinions on F1's first ever group launch. There's also a roundtable between Alex, Mark, and Stuart Codling from the morning after as they review the event, what it did well, what it didn't, and if the event has a future within the sport. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Alex Kalinauckas, Stuart Codling and Ben Hunt join forces at Silverstone over two days as McLaren and Williams launch their cars to start the 2025 F1 season. Alex and Ben kick off proceeds for McLaren's launch, the pair discuss why team principal Andrea Stella is confident McLaren can retain their place at the top of sport via their “innovative” MCL39, and why there's still plenty left for development in the final year of the current regulations. There's also a reaction to Oscar Piastri's confident claim that he can win the 2025 Drivers Championship.  Stuart picks up the slack for Day 2 at Williams, as they launch their 2025 car, the FW47. He and Alex discuss Williams' new title sponsor in Atlassian, Alex Albon and how he sees the arrival of new teammate Carlos Sainz as an “opportunity” rather than a “challenge”. There's also a chat about the similarities in what both drivers want from their new car, Sainz on the FIA's push to fine drivers for swearing in press conferences, and how the Spaniard will handle fighting for points in 2025, rather than challenging for victories.  Learn more about your ad choices. Visit podcastchoices.com/adchoices

Today, Chuck is joined by Ben Hunt, the creator of Epsilon Theory. Their conversation revolves around the concept of the Widening Gyre, a “profound social equilibrium where bad people and bad ideas drive out good people and good ideas.” They discuss this concept from a few different angles: How it relates to top-down systems like America's political systems and corporations. How it has led to the loss of a national narrative and increased division and conflict. How a community-based approach that focuses on doing the right thing today is the best way out. ADDITIONAL SHOW NOTES Hear more from Ben Hunt: “Ben Hunt: We're Not Going to Fix This from the Top Down” (podcast). “Ben Hunt: In Praise of Bitcoin” (podcast). Ben Hunt (Twitter/X). Epsilon Theory (site). Chuck Marohn (Substack).