Forward Guidance
Blockworks
The laws of macro investing are being re-written, and investors who fail to adapt to the rapidly changing monetary environment will struggle to keep pace. Felix Jauvin interviews the brightest minds in finance about which asset classes they think will thrive in the financial future that they envision.Follow Felix: https://twitter.com/fejau_incFollow Forward Guidance: https://twitter.com/ForwardGuidance Subscribe on YouTube: https://www.youtube.com/@ForwardGuidanceBWFollow Blockworks: https://twitter.com/Blockworks_Forward Guidance Newsletter: https://blockworks.co/newsletter/forwardguidanceForward Guidance Telegram: https://t.me/+nSVVTQITWSdiYTIx
Episodes
Mentioned books
72 snips
Dec 24, 2025 • 50min
Why This Isn’t A Bubble & Early 2026 Looks Like Goldilocks | Warren Pies
Warren Pies, founder of 3Fourteen Research and a macro investment expert, shares insights on macroeconomic trends. He explains why 2026 could experience Goldilocks conditions with growth without inflation, as well as risks of overheating. Warren dives deep into inflation dynamics, the K-shaped economy, and the implications of Fed policies on bonds and equities. He forecasts the S&P 500 could hit 8,000 early in 2026, while discussing strategic rotations from bonds to commodities amidst rising commodity prices.
87 snips
Dec 19, 2025 • 58min
Why Today’s Economy Serves Assets, Not Workers | Harris Kupperman
Harris Kupperman, an entrepreneur and hedge fund manager known for his contrarian macro views, shares insights on how today's economy is favoring asset holders over workers. He dives into concepts like 'economic feudalism' and the detrimental policy choices fueling this trend. Kupperman discusses wage growth dynamics and the concentration of capital in tech giants, while warning of an impending political revolution. He also explores investment strategies during these challenging times, highlighting opportunities in hard assets and emerging markets.
49 snips
Dec 17, 2025 • 52min
How To Position In A "Slowdown" Regime | Market Radar
Gamma and Artie from Market Radar provide insights into navigating market slowdowns and the challenges of forming steady trends. They discuss the complexities of growth and inflation signals, explaining how their systematic models help discern real macro trends from noise. The duo delves into liquidity concepts, emphasizing the importance of distinguishing between short-term reserves and long-term strategies. They also share bold predictions for 2026, tackling potential changes in Fed leadership and market paths. Expect an engaging and informative dialogue!
138 snips
Dec 11, 2025 • 59min
Fed Embraces "Run It Hot" For Powell's Final Months | Weekly Roundup
The hosts dive into the Fed's pivot towards a 'run-it-hot' strategy, amidst fresh liquidity injections and evolving market dynamics. They discuss inflation psychology and its impact on long-term yields. Attention shifts to China’s export struggles and the implications for U.S. trade. The conversation also explores asset selection, favoring metals and Main Street over tech giants. Additionally, they highlight wealth inequality's social consequences and the youth's shift towards practical skills amid changing economic landscapes.
39 snips
Dec 10, 2025 • 45min
The Global Economy Runs on Perpetual Stimulus | Keith Dicker
Keith Dicker, Founder and CIO of IceCap Asset Management and host of The Loonie Hour podcast, dives into the world's dependence on perpetual stimulus. He discusses how U.S. macro conditions dictate global market trends and why Canada appears fragile as the U.S. strengthens. Dicker also explores the implications of rising yields on the bond market, assesses Canada’s unique economic challenges, and champions gold and commodities as essential portfolio diversifiers in today's climate.
78 snips
Dec 5, 2025 • 1h
AI & Central Planning Are Propping Up the Economy | Weekly Roundup
The discussion dives into the paradox of a seemingly robust economy with hidden fragility. Key topics include the implications of AI-driven growth and debt-fueled spending. The hosts analyze market concentration and its relationship with small businesses facing recession. They also touch on the metals trade and geopolitical pressures leading up to 2026. Additionally, there's a look at the potential impacts of Federal Reserve dynamics and how these intersect with current market behaviors and trends.
66 snips
Dec 3, 2025 • 54min
The Hidden Fractures Behind America’s “Resilient” Economy | Aahan Menon
Aahan Menon, a macro investor and founder of Prometheus Macro, explores the deceptive strength of the U.S. economy, driven by AI investments and consumer spending from wealth rather than wages. He discusses the disconnect between nominal and real growth, the instability in the bond market, and how traditional recession indicators are losing relevance. Aahan also shares insights into liquidity transmission and offers practical trading advice, emphasizing the need for adaptive risk management and realistic expectations for investors.
73 snips
Nov 27, 2025 • 57min
The AI Economy Is Leaving Labor Behind | Weekly Roundup
This week, the hosts explore the Fed's surprising rate-cut shifts, highlighting how market reactions are more about positioning than fundamentals. They discuss AI's role in boosting capital expenditure while masking deep economic issues and the alarming trend of AI replacing entry-level jobs. The conversation also touches on political pressures leading up to 2025 and the true cost of living being significantly underestimated. A debate on the risks of AI investments rounds out the discussion, emphasizing the implications for labor and future economic policies.
66 snips
Nov 26, 2025 • 55min
AI Is Ushering in an Entirely New Economic Paradigm | Jordi Visser
Jordi Visser, a founder and expert in exponential technology trends and AI innovation, shares insights on how these advancements are reshaping the economy. He discusses the limitations of traditional macro models, emphasizing why AI and deflation might be more pivotal than usual data metrics. Jordi explains the infinite demand for AI infrastructure and contrasts today’s tech investment strategies with the dot-com era. He also elaborates on the implications of wealth concentration, Bitcoin's role as a digital asset, and how emerging technologies could redefine economic paradigms.
41 snips
Nov 20, 2025 • 1h 2min
AI’s CapEx Frenzy Hits Wall of Fed Hawkishness | Weekly Roundup
This week, the hosts tackle NVIDIA's impressive earnings and its major impact on the AI landscape. The conversation shifts to how rising bond issuance by tech giants is reshaping risk assessments. They explore mixed signals from the Fed and the implications for market liquidity. In the crypto space, they discuss unexpected forces driving recent downturns and potential signal changes ahead. The podcast also highlights geopolitical currency dynamics and their warning signs for global markets.
