Macro Hive Conversations With Bilal Hafeez

Jon Turek is the founder and CEO of JST Advisors, a hedge fund advisory service that publishes a weekly research note with global macro trade ideas. JST Advisors works closely with hedge funds on developing asymmetric macro trade ideas and market themes. Outside of JST Advisors, Jon worked as a portfolio manager at Brevan Howard and as an analyst at Moore Capital. In this podcast, we discuss:
The Substack Divide of Equities vs. Macro
The Buy-Side Paradox of PM Asymmetry and Pod Reality
The "Owl" Fed and Political Optimisation over Conviction
The Trillion-Dollar AI Fiscal Program
The Death of the 2010s Savings Glut
Treasury Buybacks and "Whack-A-Mole" Markets
Europe's Impending China Tariff Shock
The Simmering Geopolitical In-Between for Oil

Branko is a research professor at the Stone Center on Socio-Economic Inequality at the City University of New York. He received his PhD from the University of Belgrade in 1987 and served as lead economist in the World Bank's Research Department for almost 20 years, leaving to write his book on global income inequality, Worlds Apart. He later worked at the Carnegie Endowment for International Peace in Washington, the University of Maryland, Johns Hopkins University, All Souls College in Oxford, and Universidad Carlos III in Madrid. Branko's main area of work is income inequality. He is the author of several books – the most recent one being  The Great Global Transformation. In this podcast, we discuss:
The Shift to National Market Liberalism
The Geopolitical and Personal Impact of China
The Rise of "Homoplutia"
The "Folksy Elite" and Meritocratic Ideology
India's Alternative Development Model
Europe's Strategic and Economic Paradox
The Policy Dilemma of the "Elephant Chart"
Elite Multiplication and Youth Anxiety

Paul Krake is an investor, strategist, and independent researcher with three decades across macroeconomics, policy, and capital markets. In 2011, he founded the research platform View from the Peak after macro roles at Corus Capital, Caxton Associates, Moore Capital, Goldman Sachs, and Macquarie Bank. In this podcast, we discuss:
The "Post-Cyclical" Economy
The Reduction of Economic Friction
Margins vs. Labour Share
The Path to 10% Unemployment
The "Lucas Tree" Multiple Problem
Golden Age of Equity Investing
The "55-Year-Old Man" Advantage
Advice for Graduates: Atoms vs. Bits

Eric Beinhocker is a professor at the University of Oxford's Blavatnik School of Government and the founder and executive director of the Institute for New Economic Thinking at the Oxford Martin School (INET Oxford), a research center dedicated to applying innovative economics to major societal challenges. He is also Chairman of the Science Board at the Santa Fe Institute. Prior to his academic career, Beinhocker spent three decades as a technology entrepreneur, venture capitalist, and consultant to Fortune 500 companies. He is the author of The Origin of Wealth: The Radical Remaking of Economics and What It Means for Business and Society. 

The Collapse of Neoliberalism
The "Market Humanism" Synthesis
From Homoeconomicus to Homo Sapiens
Markets as Evolutionary Engines
Value as Problem-Solving
The Structural Reality of Inequality
"Middle-Out" vs. "Trickle-Down" Growth
The State as a Market Shaper
Macrocosm: Modelling the Economy with AI
Human Skills in the Age of AI

Marvin Barth is the creator of Thematic Markets and Seriously, Marvin?!. Thematic Markets is rigorous, institutional-quality research aimed at market professionals, while Seriously, Marvin?! presents more accessible takes on contrarian musings Marvin doesn't have time to research at Thematic Markets. Both publications benefit from the uniquely broad perspective on the global political economy Marvin has gained from a three-decade career spanning nearly every asset class, academia, central banking, finance ministry, and international institutions. This includes working at Barclays Investment Bank, Citi, the Federal Reserve Board, the U.S. Treasury Department, and the Bank for International Settlements. 
The Localisation Thesis
Manufacturing vs. The AI "Bubble"
The Labour Disconnect (Poetry vs. Welding)
Trump 2.0: Preparedness and Instincts
The Iran War and American Exceptionalism
The Fed's "Neutral Rate" Error
The Rise of Kevin Warsh
The Brexit Reality Check
Andy Burnham: The "Low Delta Call Option"