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The Zeitgeist – 3.15.2019

Summary:
Every morning, we run the Narrative Machine on the past 24 hours worth of financial media to find the most on-narrative (i.e. interconnected and central) stories in financial media. It’s not a list of best articles or articles we think are most interesting … often far from it. But for whatever reason these are articles that are representative of some sort of chord that has been struck in Narrative-world. I thought we were finished with the “it’s like Warby Parker for X” business models, but I guess I was wrong. So today I’m pleased to announce the launch of a kickstarter campaign for VaxDirectClub. Why pay for an expensive healthcare professional and subject your children to god only knows what sort of germs in that waiting room when you can administer all of

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Every morning, we run the Narrative Machine on the past 24 hours worth of financial media to find the most on-narrative (i.e. interconnected and central) stories in financial media. It’s not a list of best articles or articles we think are most interesting … often far from it.

But for whatever reason these are articles that are representative of some sort of chord that has been struck in Narrative-world.


The Zeitgeist – 3.15.2019

I thought we were finished with the “it’s like Warby Parker for X” business models, but I guess I was wrong.

So today I’m pleased to announce the launch of a kickstarter campaign for VaxDirectClub.

Why pay for an expensive healthcare professional and subject your children to god only knows what sort of germs in that waiting room when you can administer all of the standard immunizations from the convenience and safety of your own home? You owe it to your children to subscribe to VaxDirectClub today!

Also … this is the official SmileDirectClub founders photo. A great deal of effort and expense was put into this photo. There is nothing accidental or casual about it. It is a signifier of exactly how Alex and Jordan want to represent themselves to the world, all the way down to Alex’s careful coif and Jordan’s wan smile.


The Zeitgeist – 3.15.2019

Because, you know, all of those crazy penny stocks and “new, speculative industries” are well known for their dividend yield.

You see this at the end of every cycle … value investors convince themselves that “value large-cap tech” is a thing, and yield investors convince themselves that “safe dividend EM financials” is a thing. Both are desperate measures for desperate times, and neither ends well.


The Zeitgeist – 3.15.2019

In the same way that Rick Perry had no idea that the Dept. of Energy was in charge of nuclear weapon development until somebody told him, I would bet a large sum that Wilbur Ross had no idea that the Commerce Dept. was in charge of the census until somebody told him.

Trade your personal account on MNPI while Commerce Secretary? No problem. But allow a flunky to slip a bogus Trumpkin question into the census? Well now you’re in trouble, bub!

Whatever. Uncle Wilbur is this administration’s Albert Fall. You can look it up.


The Zeitgeist – 3.15.2019

Yeah, I know I posted this same photo yesterday. It’s evergreen. As are these earnest SeekingAlpha posts.


The Zeitgeist – 3.15.2019

Emerging Markets are not a thing. You think they are, but they’re not.

EM as an asset class is a reflection of DM monetary policy, nothing more and nothing less.


About Ben Hunt
Ben Hunt
He is the chief investment strategist at Salient, a $14 billion asset manager based in Houston and San Francisco, 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 read Epsilon Theory for its fresh perspective into market dynamics.

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