Excess Returns This Hasn't Happened Since 1930 | Eric Pachman on Why the Labor Market is Lying to You
19 snips
Sep 7, 2025 
Eric Pachman from Bancreek Capital, an expert at blending data, economics, and investing, shares his transformative journey from corporate roles at Morgan Stanley and ExxonMobil to pioneering healthcare transparency. He discusses alarming labor market trends, revealing how healthcare dominates job growth while other sectors decline. Pachman emphasizes the power of information theory in investing and the implications of immigration on labor forces and inflation. His insights urge a rethink of data-driven investment strategies for navigating today’s complexities.
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From Personal Loss To Healthcare Activism
- Eric founded 46Brooklyn after his mother's pancreatic cancer exposed him to drug-pricing failures and motivated healthcare transparency work.
- He later left to join Bancreek because Andrew Skadoff's information‑theory investment approach excited him.
Visualizing Where Jobs Actually Grow
- Bancreek built interactive treemaps of BLS establishment data to reveal which industries drive job growth.
- Visualizations let investors spot structural shifts quickly without media spin.
Healthcare Dominates Recent Job Growth
- Two-thirds of private job growth in recent years came from healthcare and social assistance, though it only represents ~17% of payroll.
- This concentration masks declines in many other major industries and creates systemic risk.
