The Market Huddle FOXES & HEDGEHOGS (Guest: Jacob Shapiro)
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Sep 6, 2025 Jacob Shapiro, Director of Research at the Bespoke Group and a geopolitical expert, joins the hosts to explore the transition from a unipolar to a multipolar world and its implications for investments. He emphasizes the need for diversified strategies in emerging markets following geopolitical shifts, particularly post-Ukraine conflict. The conversation also tackles the complexities of the current economic landscape in the U.S., inflation, and opportunities in markets like China and India. Shapiro shares personal insights, blending humor with expert analysis on navigating market changes.
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From Medieval Scholar To Geopolitical Researcher
- Jacob Shapiro described his path from medieval Islamic studies to geopolitical research after the Arab Spring accelerated his role at Stratfor.
- He later moved into investment-focused geopolitics at Bespoke Group where market feedback sharpened his analysis.
Be The Fox, Not The Hedgehog
- Jacob frames analysts as foxes or hedgehogs and identifies as a fox that updates when evidence changes.
- He argues flexibility plus clear communication beats rigid single-idea forecasting.
Admitting Being Wrong On Russia Quickly
- Jacob admitted he initially thought Russia would not invade Ukraine and held Russian positions briefly.
- He then reversed, sold quickly, and avoided the market shutdown that followed the invasion.
