Macro Hive Conversations With Bilal Hafeez

Rory Johnston is a Toronto-based oil market researcher, the founder of Commodity Context, a lecturer at the University of Toronto's Munk School of Global Affairs and Public Policy, as well as a Fellow with both the Canadian Global Affairs Institute and the Payne Institute for Public Policy at the Colorado School of Mines. Prior to founding Commodity Context, Rory led commodity economics research at Scotiabank. In this podcast, we discuss:
The Billion-Barrel Supply Gap
Physical Insurance and Pipelines
The "Toll Booth" Strait
Sanctions as a Safety Valve
Wealth vs. Shortages
China's Strategic Resilience
The "Unilateral Taco" Scenario
Long-Term Energy Optionality

Richard Schimel is the Co-Founder and Co-CIO of Cinctive Capital Management – a leading multi-strategy alternative asset manager. Rich has over 30 years of experience in the investment management industry.  Prior to Cinctive, Rich was Head of Aptigon Capital, a division of Citadel, where he served on the firm's Portfolio Committee. Before that, Rich founded and served as the CIO of Sterling Ridge Capital. Earlier in his career, Rich co-founded Diamondback Capital, where he co-managed the firm as well as portions of the firm's overall investment strategy. Before Diamondback, Rich began his buy-side career at SAC Capital, where he was a portfolio manager. In this podcast, we will discuss:
The "Sweet Spot" for Alpha 
Silos vs. Collaborative Culture 
Protecting the Left Tail
AI Beyond Tech: The Power Theme
The Pendulum Swing to Hedge Funds
Middle East: The New Financial Hub
The "Pattern Recognition" of Talent  
Fed and Sector Outlook

Dr. Tyler Goodspeed chaired the White House Council of Economic Advisers from 202-21. During his tenure on the council, he also chaired the Economic Policy Committee at the Organisation for Economic Co-operation and Development (OECD).
From 2021 through 2023, Tyler was a Director and Chief Economist at Greenmantle, a New York and London-based macroeconomic and geopolitical consulting firm. The author of four books on economic history, Tyler holds a PhD in economics from Cambridge University and a PhD in history from Harvard University,
He is currently a Senior Fellow at the Adam Smith Institute in London and a member of the Geoeconomic Council of Advisers at the Center for Strategic and International Studies.  

All views are his own and not any of the organisations he is affiliated with. 

In this podcast, we discuss:
The "Boom-Bust" Myth 
Recessions as "Apophonies"
Expansions Do Not Die of Old Age
Policy Hubris
The 1785 Structural Break
Supply Shocks as Choke Points
Misnaming the 2001 Recession
The 2008 Energy and Mortgage Intersection
Impairment of Creative Destruction
Fidelity to Long-Run Trends

Tomasz Nadrowski is a portfolio manager at the Amvest Terraden Critical Minerals Fund. He was a former Director at the World Economic Forum and Vice President of Business Development at AngloGold Ashanti, then the world's largest gold producer. Tomasz has spent over fifteen years managing commodity and mining equity portfolios for hedge funds and family offices across the U.S., Europe, and Asia. 

He is fluent in seven languages and a regular contributor to Oxford Analytica. He combines deep industry knowledge with a strategic understanding of how resources, markets, and power intersect in today's shifting geopolitical landscape. He is also the host of the podcast Tyranny Today. In this podcast, we discuss:
Geopolitics vs. the Commodity Cycle
China's VAT Rebate and Value-Added Strategy
Critical Choke Points: Rare Earths, Graphite, and Gallium
Regulatory Roadblocks and the Stigma of "Dirty" Mining
The Abdication of Western Capital Markets
Human Capital Gaps and the "Octogenarian Engineer" Problem
Geoeconomic Pricing: Disincentivising New Capacity
From "Just-in-Time" to "Just-in-Case" Production
Japan's "House of Brick" Model for Resilience
The Mineral War and the "Soul" of AI
A Shift Toward Oligopolistic Competition

Nader is Argus' Middle East editor, based in Dubai. Argus is a leading independent provider of global energy and commodity market intelligence. Nader has more than 15 years of experience covering oil and gas in the region, and today heads up the company's Middle East and OPEC coverage. Prior to moving to Argus in 2015, Nader spent five years with the Middle East Economic Survey (MEES) weekly in Cyprus. In this podcast, we discuss:
Inevitable Escalation with Iran 
Iran's Decentralised Resilience
The Rise of Mojtaba
Regional Retaliation Strategy
The Hormuz Choke Point
Modern Tanker War Risks
8 Million Barrels Offline
Limits of the Global SPR
Sentiment-Driven Volatility
Houthi Autonomy and the Red Sea