### Topics Covered
* Eric’s unconventional career path: from Morgan Stanley and ExxonMobil to founding 46Brooklyn and joining Band Creek
* How personal experiences led him to tackle healthcare transparency and drug pricing reform
* The role of **information theory** in investing and the foundation of Band Creek’s systematic process
* Building powerful data visualizations to understand labor markets, inflation, and structural economic changes
* Why healthcare dominates recent U.S. job growth and the risks of overreliance on one sector
* The impact of immigration on labor force growth and structural inflation
* Key drivers of inflation and how to interpret CPI and PCE data
* How Band Creek applies systematic endurance and the Kelly Criterion to equity selection
* Sector exposures and lessons learned from applying data-driven models internationally
* Eric’s views on cognitive biases, why most investors can’t reliably beat the market, and the power of data analysis
### Timestamps
00:00 – Opening remarks and employment trends
03:00 – Eric’s career path and founding of 46Brooklyn
07:45 – Transition to Bancreek and focus on information theory
10:30 – The power of data visualization and labor market insights
17:00 – Healthcare’s outsized role in job growth
21:40 – Structural vs. cyclical risks in healthcare
28:00 – Medicaid, elderly care, and employment implications
32:50 – Immigration’s role in labor supply and economic growth
38:15 – CPI visualization and key inflation drivers
43:30 – How macro research informs Bancreek’s investment process
46:30 – Applying information theory and systematic endurance to stock selection
53:20 – Valuation, quality, and sector patterns in Band Creek ETFs
58:00 – International insights from applying the model abroad
58:25 – Standard closing questions: Eric’s lessons for investors
1:03:00 – Where to find Eric’s work and final wrap-up
Follow Eric on LinkedIn
https://www.linkedin.com/in/eric-pachman/
Follow Eric on Twitter
https://x.com/EricPachman