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