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
29 snips
Jan 16, 2026 • 52min
The Market Is Rotating Faster Than Policy Can Keep Up | Weekly Roundup
This week, the hosts dive into the surge of market euphoria and discuss what that means for sector rotations, particularly the shift from tech to cyclicals. They analyze the rekindled consumer focus and the implications of recent political moves. Bitcoin is making a comeback, while Japan's economic strategies are explored alongside the effects of yen depreciation on global markets. They also take a critical look at the Fed's constraints and the broader risks of market volatility.
78 snips
Jan 14, 2026 • 53min
The End of Globalism, AI Acceleration & the Political Horseshoe | Alex Campbell
Alex Campbell, Founder of Rose AI and former head of commodities at Bridgewater, shares insights on the evolving silver market driven by solar demand and supply constraints. He delves into the decline of globalism, advocating for resource nationalism amid shifting geopolitical landscapes. Campbell also discusses how AI acceleration demands significant computing resources, highlighting a mismatch between investment and actual supply. Finally, he uncovers the emerging political horseshoe, examining tariff strategies and China's critical trade leverage.
63 snips
Jan 9, 2026 • 53min
Commodities & Cyclicals Are 2026’s Mega-Cap Tech | Weekly Roundup
In this discussion, the hosts explore the booming commodities market, particularly the metals sector, and its ties to geopolitical shifts and defense spending. They highlight the signs of economic re-acceleration, backed by bank lending and GDP indicators. A lively debate emerges on AI CapEx bottlenecks and market rotations impacting small caps and retail. The implications of a Supreme Court tariff ruling are analyzed, alongside predictions for Fed rate cuts and stock-bond correlations. Opportunities in uranium and niche metals are also uncovered.
74 snips
Jan 7, 2026 • 1h 2min
Future Growth Will Be Driven By Banks, Not the Fed | Andy Constan
In this conversation, Andy Constan, a macro investor and founder of Damped Spring Advisors, argues that private credit will replace the Fed's role in economic growth. He discusses how massive investments in AI and onshoring will drive demands for bank lending. Andy explains the differences between money and credit, and how traditional business cycles might resurface as investments outpace consumer spending. He highlights the implications for asset classes in this new bank-driven landscape and urges listeners to rethink previous economic paradigms.
65 snips
Dec 31, 2025 • 37min
The Market Has Already Picked Its Winners for 2026 | Tony Greer
Tony Greer, a macro trader and founder of TG Macro, shares his insights on market trends. He predicts that metals may lead the charge in 2026, driven by macroeconomic changes. Greer discusses the potential for oil prices to rise and highlights the waning momentum of AI stocks. He also analyzes Bitcoin's frustrating price action and offers advice on managing risk in volatile markets. Expect key strategies for trading bubbles and insights into maintaining a balanced portfolio as 2026 approaches.
131 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!
141 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.
