Hidden Forces

In Episode 123 of Hidden Forces, Demetri Kofinas speaks with two guests who have each made one prior appearance on Hidden Forces: Grant Williams and Ben Hunt. Ben is the founder of the widely read Epsilon Theory, a newsletter and website that’s become popular for its insights and analysis into markets and society with a particular focus on how narrative drives our perception of the world and our place in it. Grant is the long-time publisher of a popular financial newsletter, the host of a phenomenal sports podcast, and the co-founder of Real Vision, a financial media company that offers in-depth video interviews with some of the world's most thoughtful investors. Today’s conversation is broken into two parts, the second hour of which is available to our paid subscribers. In the first part we discuss a philosophy that Demetri calls “market nihilism,” which treats the objects of speculation as though they were intrinsically worthless.  We are witnessing price movements characteristic of a raging bull market wit