DiscoverExcess ReturnsThis Hasn't Happened Since 1930 | Eric Pachman on Why the Labor Market is Lying to You
This Hasn't Happened Since 1930 | Eric Pachman on Why the Labor Market is Lying to You

This Hasn't Happened Since 1930 | Eric Pachman on Why the Labor Market is Lying to You

Update: 2025-09-07
Share

Description

In this episode of Excess Returns, we sit down with EricPachman of Bancreek Capital to explore the intersection of data, economics, andinvesting. Eric shares his unique journey from the corporate world tohealthcare transparency and ultimately to building a data-driven investmentfirm rooted in information theory. We dive deep into employment trends,healthcare’s role in the economy, immigration, inflation, and how hissystematic process identifies companies with the endurance to thrive.

### Topics Covered

* Eric’s unconventional career path: from Morgan Stanley andExxonMobil to founding 46Brooklyn and joining Band Creek

* How personal experiences led him to tackle healthcaretransparency and drug pricing reform

* The role of **information theory** in investing and thefoundation of Band Creek’s systematic process

* Building powerful data visualizations to understand labormarkets, inflation, and structural economic changes

* Why healthcare dominates recent U.S. job growth and therisks of overreliance on one sector

* The impact of immigration on labor force growth andstructural inflation

* Key drivers of inflation and how to interpret CPI and PCEdata

* How Band Creek applies systematic endurance and the KellyCriterion to equity selection

* Sector exposures and lessons learned from applyingdata-driven models internationally

* Eric’s views on cognitive biases, why most investors can’treliably beat the market, and the power of data analysis

Comments 
In Channel
loading
00:00
00:00
x

0.5x

0.8x

1.0x

1.25x

1.5x

2.0x

3.0x

Sleep Timer

Off

End of Episode

5 Minutes

10 Minutes

15 Minutes

30 Minutes

45 Minutes

60 Minutes

120 Minutes

This Hasn't Happened Since 1930 | Eric Pachman on Why the Labor Market is Lying to You

This Hasn't Happened Since 1930 | Eric Pachman on Why the Labor Market is Lying to You

Excess Returns