Our political and market worlds have become an unending sea of grift … small cons, big cons, short cons, long cons … and every day the distinction between grifters and squares becomes more and more blurred. Everything is becoming gamified in the same sense. Think back when we're talking about when Bear Bryant was at A&M. It's about what you can do in this world to make it a better place. As you know, I'm from Alabama, originally, and my Grandfather played on the Alabama football team in 1919, 1920, and 1921. I've got four daughters ranging in age from 16 to 23. It's all over the place now, especially in the political sense. I remember with George Floyd, there were some riots in Atlanta. A non-corrupt state's job was to keep Epstein alive for trial. Ben Hunt: So I'll say the good news first. And with so many things, seeing is believing. I remember that the book is thinking about the whole post-apocalyptic world scenario that didn't sound so bad. Brian Beckcom: Have you watched The Social Dilemma yet? 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. The Epsilon Theory Zeitgeist. Ben is the inspiration behind Second Foundation Partners. After graduating, 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. They are all technically classified as Eusociality Social Animals. Dr Ben Hunt: I’m ready. ... Epsilon Theory… The ET Pack is going to figure this out … together. He reminded me that as an engineer and lawyer, I'd been trained to think a certain way and that not everybody's been trained to think the same way. Brian Beckcom: Thank you, Ben. Ben Hunt: Exactly right, it wasn't a good faith effort to explore these types of questions. Still, to me, a lot of your writing lately is on this very fundamental idea. I do have to say one more thing, beat the hell out of Alabama! I don't want to describe your writing inaccurately. Ben Hunt: We also live in something that I like to call the narrative world, which is as alive and as impactful on our lives as the real world. I remember going on a trip to visit the company, and while I was there, they took me to where they are designing new slot machines. Ben Hunt is the CIO at Second Foundation Partners, a consultant for large institutional investors, and the author of Epsilon Theory, a newsletter and website that examines markets through the lenses of game theory, history and nature. And how they affect us just like a virus would and how they have real-world impacts. In the episode, Ben and I talk about the true underlying drivers of human behavior, including unstructured information, narratives, and stories. Ben was born and raised in Alabama; he attended Vanderbilt University, where he earned degrees in Government Political Science and Computer Science. It has been extremely impressive to me, and I want to talk about your writings, ideas, and the narratives you're trying to get out in the world. Ben Hunt: Yeah. Brian Beckcom: Yeah, Johnny Manziel was fun to watch. Ben Hunt: Another point of what I mean about getting that distance, right. But I must, because the raccoons and the high-functioning sociopaths are looking to get their private losses socialized and their private gains locked in. It is read by over 100,000 professional investors and allocators across 180 countries. Brian Beckcom: Hey, everybody Brian Beckham here. So,  you don't find yourself, in a sense, aiding and abetting the violence. Ben Hunt is the CIO at Second Foundation Partners, a consultant for large institutional investors, and the author of Epsilon Theory, a newsletter and website that examines markets through the lenses of game theory, history and nature. Ben Hunt:  Yeah, it's so close you can't focus on it. And this type of narrative is becoming more prevalent in other areas than just social media. Would I want to have a retrospective of Leni Riefenstahl? During one of his talks, he spoke about narrative and how we are hard-wired to respond. The Rake. … I remember thinking that it was pretty interesting as it shared similarities to social media. December 4, 2019. It comes into play with what I'm doing now with a series of writings called Epsilon Theory. You see this nowhere more than we see it in the political debate in the United States today. I see people drawing the wrong conclusions about these issues. And the goal of creating intellectual and emotional distance from both corporations and political parties. He joked that when he turns 75, he was going straight to the nursing home, and I told him how my daughter was going to take care of me when I get old. So that's what that article is talking about and what I mean about taking action. For the very reason of being disciplined not for how they shoot the gun, but for how they don't shoot the gun. Except when it doesn’t. So that's the common thread and what I like to write about. It's problematic at times for exactly the reasons we're about to talk about, the welding shut of the American mind. Ben Hunt: Well, thanks for asking Brian. This post was partially inspired by the excellent analysis of Ben Hunt over at Epsilon Theory. In fact, I still do. BITFD, Burn it The Fuck Down. It has been obsessed with the study of stories, narratives, cognitive psychology. They wanted to create welding shut process to use against Netflix. It comes down to telling a story about your company that clicks with investors, your employees, and customers. Ben Hunt: We sure do, Brian. So, thanks. I can remember exactly when I got obsessed with it. Help them realize and be unsatisfied with the participation in the prescribed forms of democratic or GOP chutes they want to put you through. You have been told that the odds are ever in your favor. Ben Hunt: Yes, that's very much what I'm getting at, and I'll tell you a relative story. Finance and politics seen through the lenses of narrative, game theory, and history. I was talking to a friend of mine, and we were discussing school reopening. Which is what so many teenage boys or perpetual teenage boys think about. The internal It's something that successful politicians and leaders have known for thousands of years. For PR Pros . Tell us a little bit about the conceit or the hypothesis behind that particular point of view, as expressed in your article. Brian Beckcom: As you know,  we are currently going through difficult times in the nation as we're shooting this podcast. They talk a lot about why humans became the dominant species, and it comes down to telling stories and believing fiction. So she's on one spectrum, and Liu Cixin is at another end of the spectrum. That worries me just as much as the BLM not speaking out against violence as strongly as they should. Here is some of the best and most thoughtful content on the internet today. The fact that everyone's in on it, no matter what area of your life, you're constantly getting hit by stories and narratives from others. It’s not overtly detrimental to the team. This is essentially an unsolvable problem and has nothing to do at all with Chinese propaganda unless I'm totally missing it. I could not be more impressed with what you're doing. It's a super great episode where we discussed how he won two national football championships under the coaching of Bear Bryant and later went on to coach at A&M University. Thanks for it. I don't care. Even though you knew the article to be wrong, as soon as you turn the page and read another story with a topic you're not very familiar with, you will consider it to be more accurate. Ben Hunt: Yes, that's exactly right. I'll read some tweets, or I'll read something online. It's compounded by the advance in technology that allows them to be created and distributed much more easily. But, the technology available today supercharges the ability to persuade large groups of people. Well-meaning people can disagree, right? I don't think that the five senators who were writing a letter to Netflix were concerned about what side of the spectrum Liu Cixin falls into; they wanted a talking point. There are these different scientific requirements to be a social animal. In this episode, Brian Beckcom speaks with Ben Hunt. Whether it's from COVID, whether it's this election, whatever alarm is going off in your head right now, it's waking a lot of people up. We are biologically evolved to respond to these messages. My philosophy study was primarily focused on consequentialism and utilitarianism and the relative merits of both their strengths and weaknesses. I started this podcast because I got sick of seeing everybody complaining all the time and all the negativity. Ben Hunt On the Future of Money, Crypto, And Political power It's not the Jackboots stomping on your face in 1984. Tobias Carlisle: Hi, I’m Tobias Carlisle. It happens from the bottom up by determined people who's got each other's back and who share a belief in both small liberal and conservative virtues. Brian Beckcom: Ben, we've gone slightly over our time, and I have one or two more questions if you don't mind. We think of the Army as being disciplined, and they are. I believe very strongly that in this world where narratives are compelling and dominant, nonviolence has never been more important in social activism. Ben and Rusty look at the world through a narrative lens. Now that you, Aggies are over at the SEC conference, it will be a  good matchup. Modeling common knowledge by analyzing missionary statements and their reverberations works. We talk about getting back on track, thinking clearly, and accurately about American affairs' in their current state. Over 100,000 professional investors and allocators across 200 countries read Epsilon Theory for its fresh perspective and novel insights into market dynamics. As Chief Investment Officer, Ben is responsible for the company’s investments and portfolios, as well as producing a constant stream of important articles about thinking clearly and rationally. The context of the love story as you're describing is what a post-apocalyptic world would be like. ... More from Ben Hunt. You have been told that by banding together and acting as one, you can “democratize” the stock market. With the advanced technological tools available today, AI tools, for example, It's not a question of artificial intelligence but one of brute force computing power. Over the past few weeks you have been told a new story. You were talking earlier about compulsion, and that word resonates with me. The American Medical Association is a tax-exempt hedge fund and licensing corporation, designed from the ground up to enrich its executives and serve its own bureaucratic interests. In 2021, the US housing market – together with a Fed that thinks inflationary pressures are “transitory” – risks delivering the mother of all inflationary shocks. While you're attending law school, you are being trained to think like a lawyer. Because discipline isn't fun, discipline is a real drag. Brian Beckcom: Ben, this has been an intellectual feast for me, and I hope that you would consider me to be a part of your pack. For those that are looking for an outside view, you can’t do better than Epsilon Theory. The common thread throughout my academic career, the software company, and the investments has been my core belief, that the human-animal is driven by the unstructured information, communications, stories, narratives, and messages that other humans tell us thousands of times a day. Think about MLK and Gandhi. How as you read it, you know it to be completely false. There's this wonderful scene in the movie The Godfather. But this is also to the point of all these authors you're describing; this is nothing new. It takes on this notion of what we're describing and how it relates to Memes, stories, and narratives as actual entities. In that case, he says, I'm a superstitious man; this I do not forgive.". Do I understand you correctly? I was a professor for 10 years after receiving my Ph.D. from Harvard in Political Economy and Government. Speaker 3: Brian Beckcom: Let's not go too far with this, let's interact with the world, but let's do it maturely and wisely. If you disagree on or haven't been infected with the syllogism yet, you think it's all crazy nonsense. It doesn't matter to me whether it was murder or suicide. It's hard to describe Brian, but sometimes I feel I can see the weaving behind a story or something that I'm hearing. When you first hear that, it has certain connotations, but explain what you mean when you say BITFD. You're probably wondering how EO Wilson and his study on ants connect to do us as humans? I'm talking about Ben Hunt of Epsilon Theory. I think about how I would defend myself in the hypothetical post-apocalyptic world, where that motorcycle gang comes to take over my farm. A good friend of mine, Ryan Kruger, heard you were going to be my guest, and he wanted me to ask you a two-part question. My guest on today's show is Ben Hunt of Epsilon Theory. We also talk about Ben's acronym,  BITFD, which stands for burning it the fuck down. Once you see it, you suddenly now see it everywhere. Brian Beckcom: It's the gamification of everything. People who are raised or trained to think to be successful in those sorts of strategy games, those games of interactive strategic thinking, have the type of thinking required to be successful investors. Brian Beckcom: Perhaps another reason you've developed the ability to think critically is from your financial markets experiences. So how do you deal with the agent provocateurs? By Ben Hunt of Epsilon Theory Saturday, April 3, 2021 9:20 PM EDT Three blow-ups in three months: Archegos, Greensill, and Melvin Capital. Ben Hunt: I am doing well, I can't complain, Brian. And that's enough to rule the world, so to speak. Ben Hunt: Distance. I think people are waking the fuck up. He goes on to talk about a physiological event he refers to as Gell-Mann Amnesia. And I started thinking, how is it possible that people of good faith and intelligence can literally watch the exact same thing and come to entirely different conclusions? We are always talking to each other. It's happening on both sides of the line. While I was reading it, it really got me thinking that we, as a society, are headed in that same direction. These urban protests and violence are really  LARPing playing out in the real world. It's the hardest thing to do. It's something that The Black Lives movement has totally failed at, and I'm not saying that the BLM leadership embraces violence. Talking about our latest notes and podcasts. How do you keep reminding yourself to ask those kinds of critical questions? And I think there are a lot more Bill Hwangs out there. 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Most people 's damn homes or you find it through a political struggle and be unsatisfied the! To start my own independent company CEOs, for example, if we get into that who!

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