Podcasts about epsilon theory

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Best podcasts about epsilon theory

Latest podcast episodes about epsilon theory

Financial Sense(R) Newshour
Narrative Weaponization (Preview)

Financial Sense(R) Newshour

Play Episode Listen Later Sep 28, 2022 1:01


Sep 27 – FS Insider speaks with Ben Hunt, cofounder and chief investment officer at Second Foundation Partners, also the author of the widely-read Epsilon Theory newsletter, where he explains how narratives should be thought of...

The Julia La Roche Show
Epsilon Theory's Ben Hunt On The Narratives Everywhere

The Julia La Roche Show

Play Episode Listen Later Sep 13, 2022 58:27


Ben Hunt, the author of Epsilon Theory and co-founder of Second Foundation Partners, joins Julia La Roche to discuss narratives and how they shape everything from financial markets to politics. Ben's Epsilon Theory is a newsletter read by over 100,000 investors and allocators that examines markets through the lenses of game theory and history and provides novel insights into market dynamics. In this conversation, Ben details his focus in the investment world on examining unstructured data, which includes “the words that we read and the messages that we hear.” He explains that whether it's in investing or politics, once you start to understand underlying narratives and story arcs, you begin to see them everywhere. Ben also discussed how narratives are pervasive in the media and his approach to his content diet. He also outlined his “Fiat News” concept and how narratives get “weaponized.” Elsewhere, Ben, who has written in praise of Bitcoin, explained how Wall Street co-opted the narratives surrounding the cryptocurrency, and it's now “just another table at the Wall Street Casino.” Finally, Ben discussed polarization and how American politics is approaching an “event horizon” that it might not be able to escape. 0:00 Intro/ Ben's background 4:54 Unstructured data 10:02 Why don't we recognize narratives/stories? 13:40 Michael Crichton's Gell-Mann Amnesia Effect 17:30 Ben's content diet 22:09 ‘Surviving' in the environment 24:23 ‘Fiat News' 30:10 Weaponized narratives 35:21 The story of Bitcoin 40:16 Wall Street co-opted Bitcoin 45:39 Pervasive political conflict 52:22 How to protect yourself from political crisis Watch the full episode on YouTube: https://youtu.be/frQ5SPKQMb4

Epsilon Theory Podcast
Epsilon Theory on Tape: This is Why We Can't Have Nice Things

Epsilon Theory Podcast

Play Episode Listen Later Aug 29, 2022 28:03


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.

On the Margin
The Fed Is Creating Hollow Markets | Mike Green & Ben Hunt

On the Margin

Play Episode Listen Later Aug 17, 2022 65:20


On today's episode of "On the Margin", Ben Hunt Author of Epsilon Theory and Mike Green Chief Strategist at Simplify Asset Management join the show for a discussion around one of Ben's recent articles "Hollow Men, Hollow Markets, Hollow World". Ben and Mike compare household net worth and GDP which substantially diverged post 1990 when Alan Greenspan was Federal Reserve Chairman. Post Greenspan saw Ben Bernanke, Janet Yellen and Jerome Powell take the role of Chair of the Federal Reserve.  Ben highlights that "emergency government action always becomes permanent government policy". Just how has the era of QE influenced inflation, the U.S economy & wealth inequality. To find out, you'll have to tune in! -- Attend DAS, crypto and macro's favorite institutional conference: http://digitalassetsummit.co/ - Use code MIKE250 to get $250 off tickets -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Mike Green: https://twitter.com/profplum99 Follow Ben Hunt: https://twitter.com/EpsilonTheory Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Referenced In The Show: Hollow Men, Hollow Markets, Hollow World: https://www.epsilontheory.com/hollow-men-hollow-markets-hollow-world-2/  The Three-Body Problem: https://www.epsilontheory.com/three-body-problem/ -- Timestamps: (00:00) Introduction (00:38) Hollow Men, Hollow Markets, Hollow World (14:57) Central Bank Hubris (22:38) Searching For Simple Solutions To Complex Issues (31:38) Gresham's Law Of Information (45:47) The End Of A Regime -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Navigating Bitcoin's Noise
EP28_Part 2_Epsilon Theory's Ben Hunt - On Wall Street, And Why Washington Isn't Out to Ban Bitcoin

Navigating Bitcoin's Noise

Play Episode Listen Later Jul 22, 2022 25:37


In this episode of Navigating Bitcoin's Noise, I am joined by Ben Hunt founder of Epsilon Theory. In our discussion, we cover two of Ben's articles, In Praise of Bitcoin and The MacGuffin. Ben shares his unique views on Bitcoin TM and the broader crypto ecosystem. We discuss his approach to the world and how he's able to navigate the many narratives that dictate cycles in today's economy and markets. We also discuss the numerous profiteering games Wall Street enjoys playing and how the solution may lie within individuals themselves. If you're looking to better understand bitcoin's past and its future potential as an economic network, then join us and listen in.Kane McGukinTwitter: https://twitter.com/kanemcgukinkanemcgukin.substack.comBen HuntTwitter: https://twitter.com/EpsilonTheoryhttps://www.epsilontheory.com/In Praise of Bitcoin: https://www.epsilontheory.com/in-praise-of-bitcoin/The Macguffin: https://www.epsilontheory.com/the-macguffin-part-1/

Navigating Bitcoin's Noise
EP28_Part 1_Epsilon Theory's Ben Hunt - On Wall Street, And Why Washington Isn't Out to Ban Bitcoin

Navigating Bitcoin's Noise

Play Episode Listen Later Jul 22, 2022 28:17


In this episode of Navigating Bitcoin's Noise, I am joined by Ben Hunt founder of Epsilon Theory. In our discussion, we cover two of Ben's articles, In Praise of Bitcoin and The MacGuffin. Ben shares his unique views on Bitcoin TM and the broader crypto ecosystem. We discuss his approach to the world and how he's able to navigate the many narratives that dictate cycles in today's economy and markets. We also discuss the numerous profiteering games Wall Street enjoys playing and how the solution may lie within individuals themselves. If you're looking to better understand bitcoin's past and its future potential as an economic network, then join us and listen in.Kane McGukinTwitter: https://twitter.com/kanemcgukinkanemcgukin.substack.comBen HuntTwitter: https://twitter.com/EpsilonTheoryhttps://www.epsilontheory.com/In Praise of Bitcoin: https://www.epsilontheory.com/in-praise-of-bitcoin/The Macguffin: https://www.epsilontheory.com/the-macguffin-part-1/

Tank Talks
Using Crypto to Pay Creators with Mash CEO Jared Nusinoff

Tank Talks

Play Episode Listen Later Jul 21, 2022 47:33


Finding new and more efficient ways to reward creators for their efforts is one of the biggest challenges of the digital economy. Our guest today, Jared Nusinoff, is working to bring value to creators with Mash, a crpyto/web3 platform that helps get creators paid with a new “Pay-As-You-Enjoy” model. Mash recently received a $6M seed-round co-led by Castle Island Ventures & Whitecap Venture Partners.About Jared Nusinoff:Jared is the CEO and Co-Founder of Mash. His previous experience was starting a Travel Company, Out Here Travel, and he spent a long stint at Google. He began his career at Bain and did his undergrad at Ivey Business School at Western University.A word from our sponsor:At Ripple, we manage all of our fund expenses and employee credit cards using Jeeves. The team at Jeeves helped get me and my team setup with physical and virtual credit cards in days. I was able to allow my teammates to expense items in multiple currencies allowing them to pay for anything, anywhere at anytime. We weren’t asked for any personal guarantees or to pay any setup or monthly SaaS fees.Not only does Jeeves save us time, but they also give us up to 3% cash back on our purchases including expenses like Google, Facebook or AWS every month. The best part is Jeeves puts up the cash, and you settle up once every 30 days in any currency you want, unlike some other corporate card companies that make you pre-pay every month. Jeeves also recently launched its Jeeves Growth and Working Capital initiative for startups and fast-growing companies to enable more financial freedom for companies. The best thing of all is that Jeeves is live in  24 countries including Canada, US and many other countries around the world.Jeeves truly offers the best all-in-one expense management corporate card program for all startups especially the ones at Ripple and we at Tank Talks could not be more excited to officially partner with them. Listeners of Tank Talks can get set up with a demo of Jeeves today and take advantage of our Tank Talks special with a‍ $250 statement credit after the first $2,500 in spend or a $500 statement credit after the first $5000 in spend. Lastly, all Jeeves cardholders receive access to their Lounge Pass program and access to over 1300 airports globally.Visit tryjeeves.com/tanktalks to learn more.In this episode we discuss:02:30 How Jared started as a canoe guide in Canada and got involved with technology03:56 What Jared took from his time at Bain04:53 Simplifying options can help people make decisions06:13 Lessons he took from his time at Google07:52 How he launched projects within Google08:29 Google’s mindset around success and failure09:23 Why revenue isn’t always the best success metric within companies like Google11:17 Lessons he learned from founding his adventure travel company Out Here Travel16:13 How Web 2.0 has failed creators to help them support themselves20:23 Who is a creator today and why they are turning to Web322:50 How Mash helps creators26:23 Problems he’s hearing from creators28:40 What the BitCoin Lightning Network and why they chose to build Mash ontop of it32:38 How Mash helps crypto curious creators dive into the Web3 world34:42 Securtity on Mash to protect wallets from scams36:55 Early use cases of Mash39:41 How developers are using Mash40:44 The competitive landscape for Mash42:33 Plans for their seed-round Co-led by Castle Island Ventures & Whitecap Venture Partners43:50 Being a remote-first companyFast Favorites:🎙- Favorite Podcast: On The Brink – best/smartest take on bitcoin + web3/blockchain📰- Favorite Newsletter /Blog: Fred Wilson’s AVCBen Hunt’s Epsilon Theory Stratechery by Ben Thompson📲- Favorite Tech Gadget: Coldcard Signing Device / Wallet📈-  Favorite New Trend: Freedom Enabling Sound Money – Lightning Network + BitcoinUnbundling of the Internet📚- Favorite Book: Bitcoin Standard by Saifedean Ammous🤔 - Favorite Life Lesson: Don’t listen to life lessons. Everyone’s unique. Do thingsDo your own research. Don’t trust the “experts” & narratives.Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Epsilon Theory Podcast
Epsilon Theory on Tape: Hollow Men, Hollow Markets, Hollow World

Epsilon Theory Podcast

Play Episode Listen Later Jul 19, 2022 38:43


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 Podcast
Epsilon Theory on Tape: A Song of Ice and Fire

Epsilon Theory Podcast

Play Episode Listen Later Jul 13, 2022 21:54


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.

Michael Covel's Trend Following
Ep. 1092: Ben Hunt Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Play Episode Listen Later Jul 11, 2022 47:09


My guest today is Ben Hunt. Ben spent a decade in academia as a Political Science professor at New York University before starting a couple of his own software companies, which he later sold. Ben then decided to conquer financial markets, serving as the Chief Risk Officer and Chief Investment Strategist for Salient, one of the country's top asset management boutiques. Today, Ben is the co-founder and writer for Epsilon Theory, a website, and newsletter that examines markets through the lenses of game theory, history, philosophy, and sociology.  The topic is his article The MacGuffin Part 1. In this episode of Trend Following Radio we discuss: The MacGuffin Terra Luna's crash and its effects on the crypto world Securitization of Bitcoin on Wall Street His perspective on the current financial world Using trend following strategies How the FED controls inflation and business cycles Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

Trend Following with Michael Covel
Ep. 1092: Ben Hunt Interview with Michael Covel on Trend Following Radio

Trend Following with Michael Covel

Play Episode Listen Later Jul 11, 2022 47:09


My guest today is Ben Hunt. Ben spent a decade in academia as a Political Science professor at New York University before starting a couple of his own software companies, which he later sold. Ben then decided to conquer financial markets, serving as the Chief Risk Officer and Chief Investment Strategist for Salient, one of the country's top asset management boutiques. Today, Ben is the co-founder and writer for Epsilon Theory, a website, and newsletter that examines markets through the lenses of game theory, history, philosophy, and sociology.  The topic is his article The MacGuffin Part 1. In this episode of Trend Following Radio we discuss: The MacGuffin Terra Luna's crash and its effects on the crypto world Securitization of Bitcoin on Wall Street His perspective on the current financial world Using trend following strategies How FED controls the inflation and business cycles Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

Epsilon Theory Podcast
Epsilon Theory on Tape: The Icarus Moment

Epsilon Theory Podcast

Play Episode Listen Later Jun 28, 2022 48:13


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.

The Brandon Adams Podcast
Interview with Ben Hunt

The Brandon Adams Podcast

Play Episode Listen Later Jun 23, 2022 90:43 Very Popular


Ben Hunt (@epsilontheory) earned a PhD in Government from Harvard in 1991. He was a research academic for a decade before founding two technology companies. He then worked in investment management for a decade, before starting a content community at www.epsilontheory.com in 2013. Epsilon Theory quickly found a large audience of over 100,000 email subscribers. For the past several years, Epsilon Theory has been a vibrant, paywalled content community. We discuss three primary topics in this podcast. In the first 50 minutes, we discuss Ben's recent long piece on Fed policy, "NGMI". Ben makes it clear that his stance on risk assets has mostly changed from one of bullishness to one of bearishness, based on his view that there has been a sustained change in the Fed narrative. We then move on to discuss Ben's long piece on cryptocurrency, "The MacGuffin, Part 1". We end with fifteen minutes on the current state of the paid content space (Ben surprised me by being bearish on Substack and the micropayments model).

Money Life with Chuck Jaffe
Epsilon Theory's Hunt: 'It's going to be really tough in the casino that's Wall Street'

Money Life with Chuck Jaffe

Play Episode Listen Later Jun 21, 2022 59:36


Ben Hunt, chief investment officer at Second Foundation Partners and the publisher of Epsilon Theory, says investors need to reduce their debts and balance sheet and to "reconnect with the real economy wherever you can" in order to ride out the coming storm that he sees playing out while the stock market digests interest-rate hikes and measures designed to curtail inflation. While Hunt says he is rooting for the scenario where there's a quick recovery after "a nasty recession," he says investors need to prepare for something that's longer-lasting and worse. Also on the show, money-manager Vitaliy Katsenelson discusses his new book “Soul in the Game: The Art of a Meaningful Life”, and Jason Browne of Alexis Investment Partners discusses ETF investing in the Market Call. 

Epsilon Theory Podcast
Epsilon Theory on Tape: Good Job!

Epsilon Theory Podcast

Play Episode Listen Later May 31, 2022 24:16


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.

Podcast Notes Playlist: Latest Episodes
Ben Hunt — Preserving the Physical Metaverse (EP.106)

Podcast Notes Playlist: Latest Episodes

Play Episode Listen Later May 28, 2022 63:12


Infinite Loops Podcast Notes Key Takeaways Check out Infinite Loops Podcast Episode Page & Show NotesRead the full notes @ podcastnotes.orgBen Hunt is the creator and primary author of Epsilon Theory, and co-founder and CIO at Second Foundation Partners. Epsilon Theory is a newsletter that examines markets through the lenses of game theory and history. Over 100,000 professional investors and allocators across 180 countries read Epsilon Theory for its fresh perspective and novel insights into market dynamics. You can follow Ben on Twitter at https://twitter.com/EpsilonTheory and read Epsilon Theory here: https://www.epsilontheory.com/ Show Notes: Neurolinguistic hard reset Ben's days at Harvard Why Klaus Schwab is a raccoon Human beings are social animals How language impacts and limits us The cost of the Metaverse How the nudging state is rewiring us Does narrative follow price, or is it the inverse? Traders respond to stories everyday How technology can fight the nudging state. NOAH: An ark of stories on the blockchain Books Mentioned: The WEIRDest People in the World; by Joseph Henrich How the Irish Saved Civilization; by Thomas Cahill

Infinite Loops
Ben Hunt — Preserving the Physical Metaverse (EP.106)

Infinite Loops

Play Episode Listen Later May 19, 2022 63:12


Ben Hunt is the creator and primary author of Epsilon Theory, and co-founder and CIO at Second Foundation Partners. Epsilon Theory is a newsletter that examines markets through the lenses of game theory and history. Over 100,000 professional investors and allocators across 180 countries read Epsilon Theory for its fresh perspective and novel insights into market dynamics. You can follow Ben on Twitter at https://twitter.com/EpsilonTheory and read Epsilon Theory here: https://www.epsilontheory.com/ Show Notes: Neurolinguistic hard reset Ben's days at Harvard Why Klaus Schwab is a raccoon Human beings are social animals How language impacts and limits us The cost of the Metaverse How the nudging state is rewiring us Does narrative follow price, or is it the inverse? Traders respond to stories everyday How technology can fight the nudging state. NOAH: An ark of stories on the blockchain Books Mentioned: The WEIRDest People in the World; by Joseph Henrich How the Irish Saved Civilization; by Thomas Cahill

Epsilon Theory Podcast
Epsilon Theory on Tape: Too Clever By Half

Epsilon Theory Podcast

Play Episode Listen Later May 10, 2022 19:47


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 Podcast
Epsilon Theory on Tape: The Three-Body Problem

Epsilon Theory Podcast

Play Episode Listen Later May 6, 2022 34:51


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.

Top Traders Unplugged
GM11: The Billionaires Protocol ft. Dr. Ben Hunt

Top Traders Unplugged

Play Episode Listen Later Apr 20, 2022 70:40


Today, Niels and Cem are joined by Dr. Ben Hunt, Creator of Epsilon Theory, to discuss how he uses game theory, history and behavioral analysis to understand Narrative and how it is used as a weapon to influence human behaviour, how technology has made us more susceptible to "nudging", how Narrative is used to create more competition, division and inequality, how important it is to recognize “the water in which we swim”, the power of Narrative and control of the media, and how to fight back against autocracy in pursuit of happiness, the Billionaires Protocol and much more! ---- ---- Follow Niels on https://twitter.com/toptraderslive (Twitter), https://www.linkedin.com/in/nielskaastruplarsen (LinkedIn), https://www.youtube.com/user/toptraderslive (YouTube) or via the https://www.toptradersunplugged.com/ (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 https://www.toptradersunplugged.com/Ultimate (here). And you can get a free copy of my latest book “The Many Flavors of Trend Following” https://www.toptradersunplugged.com/flavor (here). Learn more about the Trend Barometer https://www.toptradersunplugged.com/resources/market-trends/ (here). Send your questions to info@toptradersunplugged.com And please share this episode with a like-minded friend and leave an honest Rating & Review on https://www.toptradersunplugged.com/reviewttu (iTunes) or https://open.spotify.com/show/2OnOvLbIV3AttbFLxuoaBW (Spotify) so more people can discover the podcast. Follow Cem on https://twitter.com/jam_croissant (Twitter). Follow Ben on https://twitter.com/epsilontheory?lang=da (Twitter). Episode TimeStamps: 00:00 - Intro 02:02 - Ben's background 06:03 - When did Narrative start to become dominant? 16:43 - The nudging competetive state 40:43 - The power of Narrative and “control” of the media 49:24 - How do we fight back? 54:08 - Crypto - a liberation tool? 01:03:28 - Lack of imagination 01:08:28 - Thanks for listening https://www.epsilontheory.com/ (LINK: Epsilon Theory) Copyright © 2022 – CMC AG – All Rights Reserved ---- PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey: 1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. https://www.toptradersunplugged.com/resources/ebooks/ (Click Here) 2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! https://www.toptradersunplugged.com/resources/market-trends/ (Click Here) 3. Other Resources that can help you And if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. https://www.toptradersunplugged.com/resources/ (Click Here) https://www.toptradersunplugged.com/legal/privacy-policy/ (Privacy Policy) https://www.toptradersunplugged.com/disclaimer/ (Disclaimer)

Financial Sense(R) Newshour
Ben Hunt on Narrative and Metaverse (Preview)

Financial Sense(R) Newshour

Play Episode Listen Later Apr 14, 2022 1:01


April 13, 2022 – Ben Hunt, author of the widely-read Epsilon Theory newsletter, discusses his extremely influential three-part series called Narrative and Metaverse where he explains how narratives... Subscribe to our premium weekday podcasts: https://www.financialsense.com/subscribe

Excess Returns
Four Experts Help Us Understand Inflation - And What It Means for Investors

Excess Returns

Play Episode Listen Later Apr 14, 2022 34:17


Inflation is probably the number one topic on investors' minds these days. But much of the information out there about it is either wrong or lacks the proper context. We have discussed the topic with many of the guests on Excess Returns and we wanted to put together a compilation of the best insights we have received. We talk with Orcam Financial's Cullen Roche, Epsilon Theory's Ben Hunt, O'Shaughnessy Asset Management's Ehren Stanhope and 42 Macro's Darius Dale about what causes inflation, its history and what we can learn from it, the Fed's ability to control it, and the types of investments that work best in an inflationary environment. We hope you enjoy the discussion. ABOUT THE PODCAST Excess Returns is an investing podcast hosted by Jack Forehand (@practicalquant) and Justin Carbonneau (@jjcarbonneau), partners at Validea. Justin and Jack discuss a wide range of investing topics including factor investing, value investing, momentum investing, multi-factor investing, trend following, market valuation and more with the goal of helping those who watch and listen become better long term investors. SEE LATEST EPISODES https://www.validea.com/excess-returns-podcast FIND OUT MORE ABOUT VALIDEA https://www.validea.com FOLLOW OUR BLOG https://blog.validea.com FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com FOLLOW JACK Twitter: https://twitter.com/practicalquant LinkedIn: https://www.linkedin.com/in/jack-forehand-8015094 FOLLOW JUSTIN Twitter: https://twitter.com/jjcarbonneau LinkedIn: https://www.linkedin.com/in/jcarbonneau

Epsilon Theory Podcast
Epsilon Theory on Tape: Pecking Order

Epsilon Theory Podcast

Play Episode Listen Later Apr 12, 2022 20:08


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 Podcast
Epsilon Theory on Tape: Clever Hans

Epsilon Theory Podcast

Play Episode Listen Later Apr 5, 2022 22:29


Epsilon Theory on Tape: Clever Hans by Ben Hunt

Epsilon Theory Podcast
Epsilon Theory on Tape: Sheep Logic

Epsilon Theory Podcast

Play Episode Listen Later Mar 23, 2022 39:40


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.

Excess Returns
Breaking Down the Russia Ukraine Conflict with Epsilon Theory's Ben Hunt

Excess Returns

Play Episode Listen Later Mar 20, 2022 61:18


The Russian Ukraine conflict has been a challenging one for many of us to understand. In this episode, we speak with Ben Hunt of Epsilon Theory to help us understand how the conflict got to where it is today and what it means going forward. We discuss the lead up to the war, why Putin chose to invade and how the war can be won on the military, economic and narrative fronts. We also talk about its impact on the US economy and what it means for investors. We hope you enjoy the discussion. ABOUT THE PODCAST Excess Returns is an investing podcast hosted by Jack Forehand (@practicalquant) and Justin Carbonneau (@jjcarbonneau), partners at Validea. Justin and Jack discuss a wide range of investing topics including factor investing, value investing, momentum investing, multi-factor investing, trend following, market valuation and more with the goal of helping those who watch and listen become better long term investors. SEE LATEST EPISODES https://www.validea.com/excess-returns-podcast FIND OUT MORE ABOUT VALIDEA https://www.validea.com FOLLOW OUR BLOG https://blog.validea.com FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com FOLLOW JACK Twitter: https://twitter.com/practicalquant LinkedIn: https://www.linkedin.com/in/jack-forehand-8015094 FOLLOW JUSTIN Twitter: https://twitter.com/jjcarbonneau LinkedIn: https://www.linkedin.com/in/jcarbonneau

Epsilon Theory Podcast
Epsilon Theory on Tape: The Arborist

Epsilon Theory Podcast

Play Episode Listen Later Mar 15, 2022 17:22


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.

Quoth the Raven
Quoth the Raven #280 - Ben Hunt

Quoth the Raven

Play Episode Listen Later Feb 26, 2022 56:34


Ben Hunt is the creator of Epsilon Theory and inspiration behind Second Foundation Partners, which he co-founded with Rusty Guinn in June 2018. Epsilon Theory, Second Foundation's principal publishing brand, is a newsletter and website that examines markets through the lenses of game theory and history. Over 100,000 professional investors and allocators across 180 countries read Epsilon Theory for its fresh perspective and novel insights into market dynamics. As Chief Investment Officer, Ben bears primary responsibility for determining the Company's investment views and positioning of model portfolios. He is also the primary author of materials distributed through Epsilon Theory. Ben taught political science for 10 years: at New York University from 1991 until 1997 and (with tenure) at Southern Methodist University from 1997 until 2000. He also wrote two academic books: Getting to War (Univ. of Michigan Press, 1997) and Policy and Party Competition (Routledge, 1992), which he co-authored with Michael Laver. Ben is the founder of two technology companies and the co-founder of SmartEquip, Inc., a software company for the construction equipment industry that provides intelligent schematics and parts diagrams to facilitate e-commerce in spare parts. He began his investment career in 2003, first in venture capital and subsequently on two long/short equity hedge funds. He worked at Iridian Asset Management from 2006 until 2011 and TIG Advisors from 2012 until 2013. He joined Rusty at Salient in 2013, where he combined his background as a portfolio manager, risk manager, and entrepreneur with academic experience in game theory and econometrics to work with Salient's own portfolio managers and its financial advisor clients to improve client outcomes. Ben is a graduate of Vanderbilt University (1986) and earned his Ph.D. in Government from Harvard University in 1991. He lives in the wilds of Redding, CT on Little River Farm, where he personifies the dilettante farmer that has been a stock comedic character since Cicero's day. Luckily his wife, Jennifer, and four daughters, Harper, Hannah, Haven and Halle, are always there to save the day. Ben's hobbies include comic books, Alabama football, beekeeping, and humoring Rusty in trivia "competitions". YouTube does not let me monetize my videos on the site and the podcast is full time work which will never have ads in the middle of it. If you enjoy the content, please support the QTR Podcast in any or all of the following ways: A small recurring donation via: Patreon: https://www.patreon.com/QTRResearch One time donations can also be sent via: Paypal: https://www.paypal.me/qtrresearch QTR MERCH is available here. You can also follow me on YouTube, and Twitter. And check out my new near-daily column, FRINGE FINANCE, at http://quoththeraven.substack.com THANK YOU TO ALL OF MY KIND PATRONS.    Please show love to those who support the QTR Podcast:  JM Bullion - where QTR buys gold & silver - Twitter: @JMBullion The Doomberg Terminal - Subscribe 100% free - Twitter: @DoomburgT George Gammon - Rebel Capitalist Pro - Twitter: @GeorgeGammon Sang Lucci & Wall St. Jesus — The Steamroom — Twitter: @wallstjesus and @sanglucci Corvus Gold - http://www.corvusgold.com Investors Underground - day trading community - Twitter: @investorslive  Ken R  Chris Bede - Twitter: @cbede  Nicholas Parks Matthew Zimmer J Mintzmyer - Twitter: @mintzmyer Russ Valenti - Twitter: @russellvalenti  Creighton Titus Camila Sol Longest Running Supporters   Max Mulvihill - Since 2/2018  Mark Heywood - Since 3/2018 Kyle Thomas - Since 4/2018  Chris Bede - Since 5/2018  Dariusz Kordonski - Since 5/2018  Chris Gerrard - Since 5/2018 Shear Luck - Since 5/2018   Founding Members Of My "FRINGE FINANCE" Column Kashumba - Since 8/2021 Randy Carder - Since 8/2021 T Gaggiotti - Since 8/2021 Jamie - Since 8/2021 A Farmer - Since 9/2021 Harvest Moon Research - Since 9/2021 John H. H. - Since 11/2021 Mark Hutchinson - Since 11/2021 Joseph K. H. - Since 10/2021 A Farmer - Since 9/2021 Tsniezyk - Since 9/2021 Chris - Since 12/2021 All podcast content is subject to this disclaimer.    Chris is not an investment adviser. QTR is long gold and silver. Listeners should always speak to their personal financial advisers. Please leave me alone.

Digital Discourse ZA
The Power of Narratives

Digital Discourse ZA

Play Episode Listen Later Feb 24, 2022 48:36


Bronwyn Williams & Ben Hunt [The Small Print] In this episode of The Small Print, Bronwyn speaks to the creator of Epsilon Theory, Ben Hunt, about the power of stories to shape financial systems and the world at large. It's a wide-ranging conversation that also touches on the “decentralisation gospel”, the nudging state, “fiat news”, crypto “true believers”, inalienable rights, and more. Bronwyn Williams is a futurist, economist, trend analyst and host of The Small Print. Her day job as a partner at Flux Trends involves helping business leaders to use foresight to design the future they want to live and work in. You may have seen her talking about Transhumanism or Tikok on Carte Blanche, or heard her talking about trends on 702 or CNBC Africa where she is a regular expert commentator. When she's not talking to brands and businesses about the future, you will probably find her curled up somewhere with a (preferably paperback) book. She tweets at @bronwynwilliams. Twitter Flux Trends Website Ben Hunt is the creator of Epsilon Theory and the inspiration behind Second Foundation Partners, which he co-founded with Rusty Guinn in June 2018. Epsilon Theory, Second Foundation's principal publishing brand, is a newsletter and website that examines markets through the lenses of game theory and history. Earlier in his career, Ben taught political science for 10 years: at New York University from 1991 until 1997 and (with tenure) at Southern Methodist University from 1997 until 2000. He also wrote two academic books: Getting to War (Univ. of Michigan Press, 1997) and Policy and Party Competition (Routledge, 1992), which he co-authored with Michael Laver. Ben is the founder of two technology companies and the co-founder of SmartEquip, Inc., a software company for the construction equipment industry that provides intelligent schematics and parts diagrams to facilitate e-commerce in spare parts. Website Twitter Subscribe to our Substack: https://discourseza.substack.com/   Follow us on Social Media: YouTube LinkedIn Facebook Twitter Instagram   Subscribe to the Discourse ZA Podcast: iTunes Stitcher Spotify RSS feed

Doomer Optimism
Episode 15 - Ben Hunt

Doomer Optimism

Play Episode Listen Later Jan 16, 2022 71:50


On this episode of Doomer Optimism, repeat host Anarcho-Contrarian (@AnarContrarian) is joined by Julie Fredrickson (@AlmostMedia) and Ben Hunt (@EpsilonTheory). The cover a wide range of economic and political topics, deflation versus inflation, and how the heck someone can navigate the coming insanity. About Ben Hunt Ben Hunt is the creator of Epsilon Theory and inspiration behind Second Foundation Partners, which he co-founded with Rusty Guinn in June 2018. Epsilon Theory, Second Foundation's principal publishing brand, is a newsletter and website that examines markets through the lenses of game theory and history. Over 100,000 professional investors and allocators across 180 countries read Epsilon Theory for its fresh perspective and novel insights into market dynamics. As Chief Investment Officer, Ben bears primary responsibility for determining the Company's investment views and positioning of model portfolios. He is also the primary author of materials distributed through Epsilon Theory. Ben taught political science for 10 years: at New York University from 1991 until 1997 and (with tenure) at Southern Methodist University from 1997 until 2000. He also wrote two academic books: Getting to War (Univ. of Michigan Press, 1997) and Policy and Party Competition (Routledge, 1992), which he co-authored with Michael Laver. Ben is the founder of two technology companies and the co-founder of SmartEquip, Inc., a software company for the construction equipment industry that provides intelligent schematics and parts diagrams to facilitate e-commerce in spare parts. He began his investment career in 2003, first in venture capital and subsequently on two long/short equity hedge funds. He worked at Iridian Asset Management from 2006 until 2011 and TIG Advisors from 2012 until 2013. He joined Rusty at Salient in 2013, where he combined his background as a portfolio manager, risk manager, and entrepreneur with academic experience in game theory and econometrics to work with Salient's own portfolio managers and its financial advisor clients to improve client outcomes. Ben is a graduate of Vanderbilt University (1986) and earned his Ph.D. in Government from Harvard University in 1991. He lives in the wilds of Redding, CT on Little River Farm, where he personifies the dilettante farmer that has been a stock comedic character since Cicero's day. Luckily his wife, Jennifer, and four daughters, Harper, Hannah, Haven and Halle, are always there to save the day. Ben's hobbies include comic books, Alabama football, beekeeping, and humoring Rusty in trivia "competitions". About Anarcho-Contrarian They're anonymous so honestly not that much to share here. But here's their Twitter bio: Scale-Reductionism, Localism, Agrarianism, New Village-ism, Distributism... i.e. Redundant, Nostalgic & Politically Homeless. About Julie Fredrickson Julie is a serial entrepreneur and investor.

Epsilon Theory Podcast
Epsilon Theory on Tape: Always Go to the Funeral

Epsilon Theory Podcast

Play Episode Listen Later Dec 20, 2021 23:03


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.

Resolve's Gestalt University
Ben Hunt: COVID 19 - Science, Politics, Liberty and the Long Grind

Resolve's Gestalt University

Play Episode Listen Later Dec 14, 2021 77:53


This episode features Ben Hunt, founder of Second Foundation Partners, which hosts the Epsilon Theory content portal.   I reached out to Ben because I'd been starting to feel myself shifting gears on my feelings and perceptions around the ongoing COVID pandemic, and I knew Ben would be able to help put things in proper perspective.   For most of the past 18 months or so I have been firmly in support of most of the measures taken by governments to manage the health impacts of the virus. We adhered strictly to lockdown guidelines, supported border closures, followed protocols, and received vaccines and boosters as soon as they were available.   But over the past few weeks I'd felt myself becoming frustrated with the lack of progress on the policy front. After all, residents of developed countries have had access to highly effective vaccines for almost 9 months. Every resident has had ample opportunity to get fully vaccinated at no financial cost, and residents of many countries have had plenty of time to get free booster shots.   Yet still, here we are. Everyone I talk to seems to be much more terrified of testing positive than of actually getting the virus. Everyone wants to travel, or go back to university, or see family – live a fulfilling life with the people we care about! – but they're petrified about facing trip cancelations, quarantines, and/or huge expenses from a positive COVID test.   Isn't the world upside down when most people are more afraid of running afoul the regulations in place to prevent a danger, than they are of the danger itself!   These are the themes I felt I needed to cover with Ben, and we did cover most of them in our 90 minute conversation. Ben was extremely patient and generous with his time, wisdom and insights. However, I admit to still feeling like several critical points went unresolved. This gap was definitely my fault, and not Ben's. It just took me a few days of further ruminating to see the holes I wanted to fill.   I think this is an important and timely conversation with someone who understand the topic from top to bottom, and who sees the issues with clear eyes, and a full heart. I hope you get as much value out of it as I did.

Real Vision Crypto
How Smart Contracts Work: A Visual Walkthrough

Real Vision Crypto

Play Episode Listen Later Nov 12, 2021 87:14


Learn about smart contracts inside and out. David Salem, contributor at Epsilon Theory, is joined by Anders Brownworth to discuss from technical and philosophical perspectives. Beginning by coding his own smart contract, Brownworth gives viewers a visual breakdown of the inner workings of currencies like Ethereum. Salem and Brownworth then pivot to conceptualize how smart contracts might work in the real world. How do you enforce contracts that reach beyond the digital realm? They discuss "the trilemma" and the trade-offs that come with a truly decentralized coin like Bitcoin versus coins with an organization's backing like Ethereum. This is essential content for anyone who wants to truly understand crypto. Filmed on August 16, 2021.

Real Conversations
Hedgeye Investing Summit VII: Ben Hunt, CIO, Epsilon Theory

Real Conversations

Play Episode Listen Later Oct 28, 2021 47:26


This is an exclusive "Hedgeye Investing Summit" interview between Ben Hunt, Founder of Second Foundation Partners & lead author of the Epsilon Theory blog, and Hedgeye CEO Keith McCullough.***This content aired as a video webcast live on Monday, October 4, 2021***Want access to our 8 other webcast in this series? Click HERE to get free access:Register for our new Simulated Trading Tournament HedgEye On The Prize for the chance to win cash prizes and Hedgeye product subscriptions!

Epsilon Theory Podcast
Epsilon Theory #13: Wanting

Epsilon Theory Podcast

Play Episode Listen Later Aug 17, 2021 58:13


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.

The Derivative
BITFD & Wake the F Up with Ben Hunt of Epsilon Theory

The Derivative

Play Episode Listen Later Aug 12, 2021 64:40


Over 100,000 investors in 180 countries listen to Ben Hunt, founder of Second Foundation Partners and the Epsilon Theory blog, debunk the latest narrative machines in each of his opus-like post. So with Covid cases climbing and inflation expectations rising, it seemed like as good a time as ever to bring Ben back on the pod to talk through all that is going on, and all that they are trying to tell us is going on. Listen in to Ben get animated about our current auto-tuning society, the Grand Canyon-sized chasm between market world and the real world, llamas, the Delta variant and why Covid has become so politicized, building fences (literal fences), Bill Gross' staple obsession, finding a pack to carry on meaningful conversation, getting your Robinhood calls on today!, why even a war with China won't derail risk assets, inflation, inflation, inflation, narrative missionaries, wage growth, Robinhood, the housing market, wage growth, burning it the F down, Jamie Dimon is just a bank manager, the video game of life, taking the red pill, waiting for narratives to shift before piling into Trend Following, and how jazz hands work in Bitcoin world. Have fun! Chapters: 00:00-3:00=Intro 03:01-08:26=Finding your Pack 08:27-24:09=Politicized Covid in an “Auto-tuned” Society 24:10-42:29=There is NO Deflationary Shock that can Derail Risk Assets, but Inflation…. 42:30-56:26=In the poker game of [stock buybacks], Corp. MGMT. is the Rake 56:27-01:04:40=Trend Following, Bitcoin, and Jazz Hands Listen or Watch our previous episode with Ben Hunt, follow Ben on Twitter @EpsilonTheory, and visit the Epsilon Theory website. Don't forget to subscribe to The Derivative, and follow us on Twitter at @rcmAlts and our host Jeff at @AttainCap2, or LinkedIn , and Facebook, and sign-up for our blog digest. And visit our sponsor, the CME Group at www.cmegroup.com to learn more about futures and options. Disclaimer: This podcast is provided for informational purposes only and should not be relied upon as legal, business, or tax advice. All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinions of RCM Alternatives, their affiliates, or companies featured. Due to industry regulations, participants on this podcast are instructed not to make specific trade recommendations, nor reference past or potential profits. And listeners are reminded that managed futures, commodity trading, and other alternative investments are complex and carry a risk of substantial losses. As such, they are not suitable for all investors. For more information, visit www.rcmalternatives.com/disclaimer

Epsilon Theory Podcast
Epsilon Theory #12: Proof of Plant

Epsilon Theory Podcast

Play Episode Listen Later Jul 16, 2021 56:41


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.

Financial Sense(R) Newshour
The Markets Are Dominated by an Unseen 'Narrative Machine' (Preview)

Financial Sense(R) Newshour

Play Episode Listen Later Jul 9, 2021 1:27


Jul 8 – FS Insider welcomes Ben Hunt, author of the widely read Epsilon Theory newletter, to discuss the narrative machine, how it differs from Ray Dalio's conception of the 'Economic Machine', and... Subscribe to our premium weekday podcasts: https://www.financialsense.com/subscribe

Lindzanity with Howard Lindzon
Ben Hunt of Epsilon Theory on Inflation, Financial Raccoons, and Crypto's “The Empire Strikes Back” Era (EP.157)

Lindzanity with Howard Lindzon

Play Episode Listen Later Jul 8, 2021 52:06


Ben Hunt is back for his third Panic with Friends appearance. Ben is co-founder and writer for Epsilon Theory, a newsletter and website that examines markets through game theory and history. He is is a great writer, investor, and an activist for people to stop being dumb (my words, not his). Ben wants you to invest with your head on straight, which is something I am a strong supporter of. He has helped navigate us through the ups and downs of the crypto space in his past appearances, and this episode is no exception. You can listen to his first and second appearances anywhere you get podcasts. This time around – and following our crypto conversation with Vinny Lingham from last week's episode – Ben is giving his take on the bitcoin narrative. In this episode, I talked with Ben about his farm, raccoons (the real and financial kind), decentralization, the markets, how the bitcoin narrative has changed posts-crash, gold, the influence of Elon Musk, pricing power, why inflation is here to stay, and more. Enjoy!  Guest - Ben Hunt, Co-Founder and Partner at Second Foundation Partners, Author and Co-Founder at Epsilon Theory  howardlindzon.com, epsilontheory.com  Twitter: @howardlindzon, @epsilontheory, @knutjensen, @Nikita_Arora17  linkedin.com/in/bhunt  #fintech #invest #investment #venturecapital #stockmarket #finance 

Epsilon Theory Podcast
The Epsilon Theory Podcast Ep11 - A Working Narrative

Epsilon Theory Podcast

Play Episode Listen Later Jun 16, 2021 47:11


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.

Generational Arbitrage
The Perversion of Modern Capitalism | Ben Hunt

Generational Arbitrage

Play Episode Listen Later Jun 11, 2021 51:27


In this inaugural episode of Generational Arbitrage, Tyler Neville speaks with Dr. Ben Hunt, the author of the Epsilon Theory newsletter which reaches over 100k financial professionals in over 180 countries. They discuss the perversion of modern day capitalism and how giant institutions and political parties create narratives that divide the country. Ben addresses the problems with corporate incentives and how that affects the labor pool. --- Generational Arbitrage is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like this, visit http://blockworks.co/podcasts.

The Phil Bak Podcast
Epsilon Theory: Part Three

The Phil Bak Podcast

Play Episode Listen Later Jun 7, 2021 46:17


In this third part of a breathtaking conversation with Ben Hunt we discuss narratives: how they are formed, how they spread, how to identify them, and the impact they have on the world around us.

The Phil Bak Podcast
Epsilon Theory: Part Two

The Phil Bak Podcast

Play Episode Listen Later Jun 5, 2021 43:06


This is the second part of a breathtaking conversation between Ben and Phil about how the financial markets are being turned into political utilities right before our eyes. Ben Hunt is Co-Founder at Second Foundation Partners & author at Epsilon Theory. (Replay from The ETF Experience)

The Phil Bak Podcast
Epsilon Theory: Part One

The Phil Bak Podcast

Play Episode Listen Later Jun 4, 2021 39:05


This is the first part of a breathtaking conversation between Ben and Phil about how the financial markets are being turned into political utilities right before our eyes. Ben Hunt is Co-Founder at Second Foundation Partners & author at Epsilon Theory. (Replay from The ETF Experience)

Epsilon Theory Podcast
Epsilon Theory on Tape: The Long Now pt 4 - Snip!

Epsilon Theory Podcast

Play Episode Listen Later May 24, 2021 32:41


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 Podcast
Epsilon Theory on Tape: The Long Now pt 2 - Make Protect Teach

Epsilon Theory Podcast

Play Episode Listen Later May 24, 2021 29:33


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

Epsilon Theory Podcast
Epsilon Theory on Tape: The Long Now pt. 1 - Tick Tock

Epsilon Theory Podcast

Play Episode Listen Later May 24, 2021 15:50


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 Podcast
Epsilon Theory on Tape: The Long Now pt 3 - Wink

Epsilon Theory Podcast

Play Episode Listen Later May 24, 2021 26:07


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

Between2Chains
The Game is Rigged ( w/ Ben Hunt )

Between2Chains

Play Episode Listen Later Feb 23, 2021 70:38


In this episode, Ben Hunt, Co-Founder of Second Foundation Partners and creator of Epsilon Theory, joins host Peter Hans to talk about how investors can make sense of markets that don't make much sense. Using the lens of game theory, Hunt explores the role of narrative and the market machine, and offers investors a new way of thinking about Wall Street that can revolutionize their investment perspective. Visit www.realvision.com/crypto to join the crypto revolution. You can reach out to Peter Hans on Twitter : @peterdhans82 You can reach out to Ben Hunt on Twitter: @EpsilonTheory Learn more about your ad choices. Visit megaphone.fm/adchoices

The Wall Street Lab
#33 David Salem - A Deep Dive into Capital Allocation

The Wall Street Lab

Play Episode Listen Later Jul 5, 2019 68:06


#33 David Salem - A Deep Dive into Capital Allocation   This interview is a true master class for anyone interested in capital allocation and manager selection. We had the great pleasure to speak to David Salem, the Co-Chairman of New Providence Asset Management, a firm that provides investment office solutions for endowments, foundations and family offices. David is also a contributor to Epsilon Theory, an online community in which he writes extremely thoughtful articles about investment management and combines it with his passion for the game of baseball.   Before assuming his current post, David served as a Managing Partner at Windhorse Capital Management, which merged with New Providence in 2018. For almost two decades before that, David served as the Founding President and CIO for the Investment Fund for Foundations (TIFF), a non-profit investment cooperative that managed over $8bn on behalf of more than 700 endowed charities by the time he left. We discuss many different topics during our conversation, which includes the Yale Model, which then became known as the Endowment Model and why David thinks it may be dangerous for institutions to try to replicate it. We also discuss David's framework for selecting money managers, what his due diligence process looks like and what he focuses on when meeting a money manager for the very first time.   The topics discussed include: 02:00 – David's background 06:00 – David's opinion what it takes to become a great investor 10:00 – The Endowment Model and why David thinks it may be dangerous for institutions to try to replicate it 16:00 – How does David thinks about diversification, as well as his thoughts on how to design an investment program 24:00 – David's thoughts on how one should account for human biases in the measurement of risk tolerance 33:00 – David's thoughts on Private Equity and crypto currencies 39:00 – David's personal process on how to select investment managers 43:00 – Characteristics David looks for (and seeks to avoid) in vetting money managers 49:00 – How does David prepare for a first meeting with a money manager, and what he spends the first meeting on 55:00 – What David thinks about the use of Investment Committee in making investment decisions 59:00 – How does David decide on how when to part ways with managers he has invested in 62:00 – David's thoughts on mentorship   Please keep in mind this is not investment advice. Full disclaimer at the end of the podcast.    As always, make sure you share the podcast with anyone you think might benefit from the information. And don't forget to leave us a 5-Star review on iTunes!   Luke, Leo & Andy