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
80 snips
Oct 3, 2025 • 55min
This Bull Market Has Legs | Weekly Roundup
This week, the hosts tackle the potential implications of a government shutdown on markets and the troubling signs from weak labor data. They dive into how AI might boost productivity despite rising youth unemployment and explore intriguing links between asset inflation and declining fertility rates. Discussion heats up around whether current market dynamics could lead to a tech-style bubble and the possibilities of a risk-asset melt-up. They also consider the potential impact of fiscal measures on equities and the shifting landscape of market leadership.
35 snips
Oct 1, 2025 • 21min
Emerging Markets, Stablecoins & Why You Should Look Beyond the U.S. | Amy Oldenburg
Amy Oldenburg, Head of Emerging Markets Equity at Morgan Stanley, shares her fascinating transition from tech to finance. She explores how emerging markets are adopting crypto, highlighting mobile-first nations as ripe for stablecoin growth. Amy discusses the challenges banks face with this shift and how governments respond to the rise of dollar-denominated stablecoins in high-inflation regions. She also identifies promising trends and opportunities in innovation across China and other emerging economies.
98 snips
Sep 26, 2025 • 1h 8min
Economic Reacceleration or Growth Scare? | Weekly Roundup
The discussion tackles the biggest threats to the economy and explores whether the MAG7 stocks represent a bubble. Surprising consumer data signals strong GDP revisions, while the housing market shows fluctuating trends amidst rising interest rates. Concerns over Federal Reserve policies reveal potential risks within the labor market, and gold's stability is compared to Bitcoin's volatility as a macro hedge. The conversation delves into income inequality and the implications of industrial policies on national resilience, leaving listeners with valuable asset positioning advice.
65 snips
Sep 24, 2025 • 27min
Inevitable Money Printing Will Drive A “Debt Doom Loop” | Arthur Hayes
Arthur Hayes, Co-founder of BitMEX and CIO of Maelstrom, dives into the challenges of Fed independence and the looming threat of money printing. He explains how Bitcoin could be the best hedge against inflation, discussing its performance compared to gold and stocks. The conversation also navigates the impact of AI on economic policies, the rise of DeFi and stablecoins, and the critical competition among decentralized exchanges. Hayes offers insights on systemic risks within the stablecoin ecosystem and what drives crypto adoption in Asia.
112 snips
Sep 19, 2025 • 53min
Winners & Losers After The Fed’s Dovish Pivot | Weekly Roundup
This week, the conversation dives into the Fed's recent rate cut and its implications for a K-shaped economy. The hosts analyze why the dollar seems to be bottoming out while exploring gold's comforting presence in uncertain times. Bitcoin's intriguing correlation to gold is highlighted, alongside concerns about private credit undermining public markets. A thought-provoking discussion on the widening gap in the economy and generational politics adds depth to the analysis, wrapping up with a note of optimism.
71 snips
Sep 17, 2025 • 45min
Energy & Trade Wars Are Rewriting the World Order | Helen Thompson
Helen Thompson, a Political Economy Professor at Cambridge, dives into the reshaping of global power dynamics. She analyzes how Trump’s trade policies and China’s dominance in rare earths impact the geopolitical landscape. The conversation also explores the U.S. shale boom and the significance of Western Hemisphere energy resources. Thompson highlights NATO’s fiscal challenges and discusses the dollar's resilience against the backdrop of rising public debt and evolving global trade relationships.
74 snips
Sep 12, 2025 • 55min
The Data Is Screaming Two-Speed Economy | Weekly Roundup
This week, the hosts discuss surprisingly low PPI data and the Fed's pivot from inflation concerns to labor issues. They unveil a troubling ‘two-speed’ U.S. economy, showcasing a stark division between booming sectors like AI and struggling Main Street. The conversation touches on the risks of mega-cap stocks and their buybacks, alongside the challenges facing young workers amid rising inequalities. Expect insights on market resilience and shifting investment trends as they navigate the complexities of today's economic landscape.
25 snips
Sep 10, 2025 • 45min
Former Barclays CEO’s Big Bet on Hyperliquid’s Explosive Growth | Bob Diamond & David Schamis
Bob Diamond, former CEO of Barclays and founder of Atlas Merchant Capital, and David Schamis, CIO and co-founder of the same firm, discuss their transition from traditional finance to the digital asset landscape. They dive into Hyperliquid’s rapid growth and innovative features like perpetual swaps and unique token buybacks. The conversation also touches on the regulatory environment for blockchain, the significant role of stablecoins, and how their firm is facilitating U.S. investors’ access to new financial opportunities.
89 snips
Sep 5, 2025 • 42min
The Fed Is Cornered By Stagflation After Jobs Collapse | Weekly Roundup
This week, market watchers are grappling with disappointing job growth numbers, raising concerns about the economy's direction. The potential for a Federal Reserve interest rate cut is debated amidst rising stagflation worries. As tariffs' future hangs in the balance, the conversation turns to liquidity challenges in the economy. The allure of gold as an investment rises, signaling a need for protective strategies in uncertain times. Insights into the tech sector's relationship with AI add yet another layer to the discussion.
94 snips
Sep 3, 2025 • 56min
Why Everyone Keeps Misreading The New Macro Regime | Ben Kizemchuk
Ben Kizemchuk, a Portfolio Manager at Wellington Altus, presents his intriguing 'Four Fs' macro framework: Fiscal Dominance, Financial Repression, Fiat Currency, and Passive Flows. He reveals how these elements converge in today's economy, reshaping growth dynamics and stabilizing markets. Kizemchuk discusses the unexpected economic resilience following interest rate hikes and the critical role of government spending in promoting stability. He also explores the implications of an AI-driven future where stock markets and the economy become increasingly intertwined.
