Macro Hive Conversations With Bilal Hafeez

Tina Fordham is a Geostrategist, Author and Advisor to board and C-Suite leaders on a mission to transform how leaders navigate the changing global environment. Her signature theses on the Geopolitics Supercycle, PQ (Political Quotient) and Vox Populi Risk have entered the popular lexicon, while the tools developed by Fordham Global Foresight have demonstrated how geopolitics can be integrated into business strategy. Fordham was Wall Street's original Chief Global Political Analyst, spending 17 years at Citigroup. She created Eurasia Group's financial markets research business; was appointed to the United Nations' first HighLevel Panel on Women's Economic Empowerment; and has served as a Senior Advisor to the U.K. Prime Minister and 2-and 3-star Generals. Tina is a member of the International Advisory Boards of Columbia University's School of International and Public Affairs, her alma mater, and Cambridge University's Centre for Geopolitics. She hosts "The Navigator", produced in collaboration with the London Stock Exchange, and is a frequent guest on CNN, CNBC and Bloomberg. Her forthcoming book, Mad World: A Geostrategy Survival Guide for Business Leaders, will be published in July 2026 by Whitefox. In this podcast, we discuss: The Geopolitics Super Cycle The 1973-Scale Oil Shock Europe's "Barely Controlled Panic" The 2026 Greenland Maneuver Venezuela and the Iran "Jujitsu" Move China's "Silent" Advantage The Rise of Middle Powers Raising Your "PQ" (Political Quotient) You can follow Tina's work on X, LinkedIn, and the Fordham Global Foresight website. You can also contact Tina here,

Sean McGould – the founder/CEO of the Lighthouse Group – an approximately $17 billion investment management firm. Prior to Lighthouse, Sean was the Director of the Outside Trader Investment Program for Trout Trading Management Company. Before joining Trout, he worked for Price Waterhouse in auditing and corporate finance. In this podcast we discuss: The Multi-Strategy Investment Approach The Selective "War for Talent" Adapting to Trump 2.0 Volatility Targeting Real Returns vs Gold AI: A Digital Tool, Not a Total Bubble Redefining Value in the Digital Age Japan's Shareholder Value Pivot Centralised Planning Risks in China Patience in Tight Credit Markets The 2026 Macro Outlook You can get more information on Sean's firm here The commentary contained in the above article/podcast does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.

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: Trump's Bullish Paradox Importance of China's SPR Why OPEC+ Hiked Production The "Oil on Water" Overhang Venezuela and Iran 2026 Outlook US Shale's H2 Roll-over Long term demand outlook

Robert is Founder, Chief Investment Officer and the Managing Partner of the $5bn EM fund, Gramercy. He founded Gramercy in 1998. Robert has 36 years of investment experience dedicated to emerging markets with a specialization in distressed opportunistic credit strategies. He is a member of Gramercy's Management Team and is Co-Chair of the Risk Management Committee. In this podcast we discuss: EM in 2025: From Caution to FOMO EM vs DM: A Role Reversal Since COVID The Problem with EM Labels & Indices China: From 'Uninvestable' to Selective Opportunity Russia–Ukraine: Asymmetry, Reconstruction, and Market Blind Spots The Boom in EM Private Credit Where the Opportunities Are in EM Private Credit Mexico, NAFTA 2.0, and Geopolitics Venezuela and the 'Trump Corollary to the Monroe Doctrine' Fed Policy: The Only Conviction Is Lack of Conviction Portfolio Philosophy: Fighting FOMO and Overtrading

Ken Tropin is a legend in the macro space. He is the Chairman and the founder of Graham Capital Management (GCM) - $20bn fund. Ken founded GCM in 1994 and has grown the firm into an industry leading alternative investment manager focusing on global macro discretionary and quantitative hedge fund strategies. Prior to founding GCM, Ken had significant experience in the alternative investment industry, including five years (1989 to 1993) as President and Chief Executive Officer of John W. Henry & Company, Inc. and seven years (1982 to 1989) as Senior Vice President and Director of Managed Futures at Dean Witter Reynolds. In this podcast we discuss: Investment philosophy Differentiation from multi-strat funds Talent recruitment strategy; NY office Fed outlook Term premium as underpriced US deficit concerns and duration risk in long-end rates AI and technology Global central bank divergence Inflation pressures Private credit Dollar view Geopolitical risks Robin Hood Foundation

David Dredge is the Chief Investment Officer of Convex Strategies, which is an agnostic value investor in volatility. David has over 30 years' experience managing risk across global markets. Prior to launching Convex Strategies, David served as a Managing Director and Portfolio Manager at Artradis Fund Management in Singapore, where he was responsible for the fixed income aspects of their volatility strategy. Earlier in his career, David built and ran Asian and Global EM trading businesses for RBS (ABN AMRO Group), Bankers Trust, and Bank of America. He currently sits on the Monetary Authority of Singapore Markets Committee (SFEMC).

Mark Farrington is a Global Macro and Geopolitical Strategist and author of the 'Watchtower Reports,' which cover topics ranging from geopolitical risk to Bank of Japan monetary policy to US dollar dynamics. He previously served as Managing Director and Portfolio Manager of the Macro Currency Group at Principal Global Investors, where he worked for fifteen years. Before that, he spent 17 years in the Asia-Pacific region, primarily with Bankers Trust. In this podcast, we discuss: US Embrace of Industrial Policy and Self-Sufficiency China's Supply Chain Strategy and Retaliation: Barriers to RMB Internationalisation China's Strategic Interest in Gold Enduring US Dollar Dominance Geopolitical Alpha and Experiential Learning Convergence of Allies on US Worldview Fragility and Vulnerability of Europe Financial Crisis Catalysts: Inflation and Volatility The Threat of Systemic Volatility Books mentioned: Theory of International Politics (Kenneth N. Waltz), The Black Swan (Nassim Nicholas Taleb), The Tipping Point (Malcolm Gladwell), Weaving the Net: Conditional Engagement with China (James Shinn), The Meiji Restoration (W.G. Beasley), The Anarchy: The Relentless Rise of the East India Company (William Dalrymple). You can follow Mark's work here.