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

EC A Working Narrative
Post-pandemic, the future of remote work can be linked to general labor concerns, the social contract with our system of capitalism, and the role of work in American lives. Even Apple is feeling the heat.
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Raccoons Never Sleep
A raccoon, in our lingo, is a financial huckster or conman. Cases in point: Lemonade; SocialCapital.
Read
EC Wage Inflation Isn't Coming, It's Already Here
For those keeping score at home, the US inflation rate in 1981 was 10.3%.
Read
Leverage And Its Discontents
Three blow-ups in three months: Archegos, Greensill, and Melvin Capital. Insane leverage employed to maximize private gain, provided by lenders that can socialize losses.
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Inflation Investing
Five tentpoles to organize and support a slate of investment strategies for an inflationary world.
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The Best Way To Rob A Bank
I think that the collapse over the past week of Greensill Capital has a lot of systemic risk embedded within it, particularly as the fraudulent deals between Greensill and its major sponsors – Softbank and Credit Suisse – come to light.
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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 Ultra FTSE Europe
USDU WisdomTree Bloomberg USD Bullish ETF Fund
UUP PowerShares DB US Dollar Index Bullish Fund
VGK VANGUARD EUROPEAN ETF
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PERSONAL BLOG

Latest Posts
How It Started. How It’s Going.
Politics and the NBA have a lot more in common than you might think...
The Welding Shut Of The American Mind
Ruth Bader Ginsburg and Antonin Scalia weren’t just friends. They were good friends. Two intellectual giants and enormous egos who came to vastly different conclusions on almost every political and legal flashpoint of the past 100 years.
Coronavirus: Don’t Test, Don’t Tell
I received a Twitter DM that included screenshots of an email that went out to staff at the UC Davis Medical Center. After checking for authenticity, I posted the screenshots in a tweet of my own. And that’s when it blew up...
An Experiment
There is a chart I’ve been thinking about a lot lately, and I want to tell you about it.
Normalize This
I feel like the Billy Crystal character in Analyze This all the time. T
Mailbag: By Our Own Petard
Sometimes we get enough good responses to a note from pack-members that we think it’s worth publishing them on their own.
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.

Work Experience

Chief Investment Strategist
Salient
October 2016 - Present (4 years 9 months)
Chief Risk Officer
Salient
November 2013 - Present (7 years 9 months)
Author
Epsilon Theory
2013 - Present (8 years 7 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