Ben Hunt, founder of Epsilon Theory, discusses the power of narratives in markets, the role of storytelling in finance, starting with a hypothesis for market analysis, using big data for investment strategies, and the manipulation of language in news and society. The conversation explores understanding market narratives, risks in investment, and personal insights on career success.

In this engaging discussion, Ben Hunt, a market analyst known for his deep insights, and Grant Williams, a financial author with a global perspective, tackle the post-election market landscape. They explore how trust, or the erosion of it, shapes market behaviors and investment philosophies. Key topics include the shift from wealth accumulation to preservation, the challenges in a speculation-driven environment, and the impact of inflation on trust in institutions. Their candid insights offer valuable perspectives for navigating today's complex financial terrain.

Ben Hunt, author of Epsilon Theory and co-founder of Second Foundation Partners, shares insights on the intersection of language and AI. He discusses the critical need to restore empathy in digital communication, urging a shift back to smaller, trusted conversations. Hunt elaborates on how large language models are reshaping narrative structures and enhancing our understanding in various fields. He also addresses the cultural shift away from meaningful storytelling amidst modern materialism, highlighting the alienation present in today's society.

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

There are bank runs and also rumors of more bank runs on the horizon. One side says, “the banks are insolvent, get to the lifeboats.” Another side says, “the banks are going to be fine…we’re sick and tired of doomers pulling the fire alarm.” Who’s right? This is our third episode in a series of conversations. To get the full debate you’ll need to listen to the last two episodes with Balaji Srinivasan and Arthur Hayes. In this episode, we’re speaking with Ben Hunt who lays out the counterpoint details on why banks are going to be fine. He believes Balaji and Arthur are dangerously wrong. Tune in to hear why!   ------ 📣 Infura | New SDK for NFT APIs For Devs https://bankless.cc/Infura  ------ 🚀 JOIN BANKLESS PREMIUM:  https://www.bankless.com/dashboard  ------ BANKLESS SPONSOR TOOLS:  ⚖️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum  🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://bankless.cc/kraken  🦄UNISWAP | ON-CHAIN MARKETPLACE https://bankless.cc/uniswap  👻 PHANTOM | FRIENDLY MULTICHAIN WALLET https://bankless.cc/phantom-waitlist  🦊METAMASK LEARN | HELPFUL WEB3 RESOURCE https://bankless.cc/MetaMask  🚁 EARNIFI | CLAIM YOUR UNCLAIMED AIRDROPS https://bankless.cc/earnifi   ------ Timestamps 0:00 Intro 6:55 Ben’s Crypto Credentials  10:36 Critiques of the Fed 16:55 Ben’s Understanding of Balaji’s Thesis 24:33 What Ben Believes is Untrue 33:42 Treasuries Are the Safest Assets? 43:34 Ben’s Objection 45:55 Icebergs 50:52 Fiat is Better?  57:45 Step Back for Society?  1:02:26 Checks on Power 1:07:39 Rules-Based Monetary Policy  1:12:30 How to Fix the Fed 1:15:35 Closing & Disclaimers  ------ Resources: Previous Debates  https://www.bankless.com/balaji-bets-the-dollar-will-hyperinflate-to-zero-not-a-drill   https://www.bankless.com/arthur-hayes-says-get-your-bitcoin-and-get-out  Ben Hunt https://twitter.com/EpsilonTheory  ------ Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures 

My guest for this episode is Ben Hunt. This is Ben’s second appearance on the podcast. I had the pleasure of first interviewing him a few years ago and if you are not familiar with his work, I encourage you to go listen to that episode in which he discusses his background and the key concepts he utilizes in analyzing markets. It’s not at all necessary but his framework is truly fascinating and will give you a deeper understanding of what we discuss here. Today, Ben sees a pattern of rapacious behavior in the markets that extends well beyond the world of finance and impacts each one of our lives in very important ways. He also sees a glimmer of hope in how we can overcome it. For links and notes related to this episode visit TheFelderReport.com.

Community-building experts Ben Hunt and Paul Millerd discuss rejecting societal scripts, forming genuine connections, raising children, and pursuing small-scale, meaningful experiences to satisfy ambition without falling into industrially necessary systems. They explore the concepts of 'raccoons' and 'coyotes' in various industries, emphasizing the importance of authenticity and finding like-minded individuals for genuine connections.

Ben Hunt, author of Epsilon Theory and co-founder of Second Foundation Partners, offers sharp insights into how narratives drive financial markets and influence investor behavior. He discusses the unsettling shift to 'WTF animal spirits' post-election, warning about changes in market sentiment from optimism to chaos. Hunt also highlights the importance of storytelling in understanding Bitcoin's evolution and critiques the objective truth in media, advocating for critical engagement with our news sources as narratives shape perceptions.

Finance expert Ben Hunt discusses his journey from academia to finance, the importance of narratives and game theory in investing, and his quest to find structure in unstructured data and stories. The podcast explores the interconnectedness of human, intellectual, social, and financial capital in shaping one's life and career.

In this episode, Howard Lindzon interviews Ben Hunt, former professor and co-founder/CIO of Epsilon Theory. They discuss topics such as the narratives surrounding the US dollar, the inflation narrative, and the Rich, Angry, Degenerate economy. Ben also shares his insights on rational optimism and countering coordinated attacks in narratives.