Chief Investment Strategist
Contributor's Links: Salient Epsilon Theory

Ben Hunt is the chief investment strategist at Salient and the author of Epsilon Theory, 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 ... more

ALL CONTRIBUTIONS

I’ve Got A Secret
Index funds and any other passive investment vehicles are really important, excellent things for investors. I get that. I am not railing against their existence. But you cannot separate the Always. Be. Buying. impulse from index vehicles.
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Riding The Bitcoin Cyclone
The rollercoaster nature of Bitcoin is a feature, not a bug.
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Amazon's Pirate Bay
The New York Times has accused Amazon of becoming a literal "Pirate's Bay," as it has become proliferated with counterfeit books for sale on it's platform. Yet the company makes millions off the sale of these knockoffs.
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That Time I Bought Blockbuster Debt
The worst investment I ever made in my hedge fund – and by worst investment I mean by an order of magnitude – was buying Blockbuster junior debt.
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After All, We Are Not Communists
The market is the biggest puzzle there ever was. That’s why I can’t stay away.
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The Epsilon Strategy
Marc Benioff gets it. Jim Cramer gets it. They have figured out the game. Why can’t we?
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STOCKS I FOLLOW

ADRU BLDRS Europe 100 ADR Index Fund
CYB WisdomTree Dreyfus Chinese Yuan Fund
DBEU Deutsche X-trackers MSCI Europe Hdgd Eq
DBEZ Deutsche X-trackers MSCI EMU Hedged Eq
DBUK Deutsche X-trackers UK Hedged Equity ETF
DEZU iShares Adaptive Ccy Hdgd MSCI Euroz ETF
DIA SPDR Dow Jones Industrial Average
DXPS WisdomTree UK Hedged ETF
EEA The European Equity Fund Inc.
EPV UltraShort MSCI Europe ProShares
EURL Direxion Daily FTSE Europe Bull 3x Shares ETF
EWU iShares MSCI United Kingdom Index Fund
EZU iShares MSCI EMU Index Fund
FEP First Trust Europe AlphaDEX ETF
FEU SPDR DJ Stoxx 50
FEUZ First Trust Eurozone AlphaDex ETF
FEZ SPDR DJ Euro Stoxx 50
FIEE UBS AG FI Enhanced Europe 50 ETN
FKU FstTr ET AlDx2 Shs First Trust United Kingdom AlphaDEX Fund
FXB CurrencyShares British Pound Sterling Trust
GBBEF iPath GBP/USD Exchange Rate ETN
HEDJ WisdomTree Europe Hedged Equity ETF
HEWU iShares Currency Hedged UK ETF
HEZU iShares Currency Hedged MSCI EMU ETF
HFEZ SPDR EURO STOXX 50 Currency Hedged ETF
HFXE IQ 50 Percent Hedged FTSE Europe ETF
HGEU ProShares Hedged FTSE Europe
IEV iShares Europe
IWM iShares Russell 2000 Index Fund
QQQ PowerShares QQQ Trust Series 1
RFEU First Trust RiverFront Dynamic Eurp ETF
RINF ProShares Inflation Expectations ETF
SPY SPDR S&P 500
UDN PowerShares DB US Dollar Index Bearish Fund
UPV ProShares Trust
USDU WisdomTree Bloomberg USD Bullish ETF Fund
UUP PowerShares DB US Dollar Index Bullish Fund
VGK VANGUARD EUROPEAN ETF
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LATEST ACTIVITY

The ANDs of Asylum was just posted to Ben Hunt's personal blog.
Fellow Contrarians Unite! was just posted to Ben Hunt's personal blog.
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PERSONAL BLOG

Latest Posts
Narrative Means Never Having To Say You’re Sorry
If we want to see more clearly through narrative abstractions, well, we can’t eliminate our sensitivity to those stubborn memes, but there are more lessons here for us as citizens and investors.
The ANDs Of Asylum
Increasingly rare are pieces which demonstrate high connectivity in narrative structure not because of their adherence to a particular common narrative, but because they connect otherwise disparate language with their own familiar language.
Fellow Contrarians Unite!
My views are different from those of the (relatively) tiny universe of investors I talk to. My views are different from the straw man of “consensus” I built.
Going Gray
For whatever reason these are articles that are representative of some sort of chord that has been struck in Narrative-world.
A Game Of Them
Epsilon Theory readers are well aware of the prevalence and temptation of what we call the Game of You: mirroring and rage engagements.

Work Experience

Chief Investment Strategist
Salient
October 2016 - Present (3 years)
Chief Risk Officer
Salient
November 2013 - Present (5 years 11 months)
Author
Epsilon Theory
2013 - Present (6 years 10 months)
Portfolio Manager
TIG Procella Fund
March 2012 - May 2013 (1 year 3 months)
Co-Portfolio Manager
Iridian Asset Management
January 2006 - December 2011 (6 years)

Education

Harvard University
Ph.D., Political Science and Government
1986 / 1991
Vanderbilt University
B.A. Political Science and Government/Computer Science
1982 / 1986

Publications