Macro Hive Conversations With Bilal Hafeez

Alex Edmans is a Professor of Finance at London Business School and is one of the world's leading academics on company purpose, social value, and profit. Alex has a PhD from MIT as a Fulbright Scholar and was previously a tenured professor at Wharton and an investment banker at Morgan Stanley. In this podcast, we discuss: Amateur vs. Professional Behavioural Errors Direction Right, Speed Wrong in AI and Tech Bubbles The Limits of Contrarian Strategies Herding Mechanics and Social Network Traps Slow Uptake on Corporate Intangibles Subtle C-Suite Tells: AGMs and Corporate Jets Arithmetic Misreactions and Narrow Framing The Anchoring Trap & Disposition Bias Overconfidence in Amateur Stock-Picking Exploiting a Long Investment Horizon

Apurv Jain is the Founder and CEO of MacroX, a San Francisco-based startup building a real-time measurement layer for the global economy using alternative data. Before MacroX, Apurv built machine-learning investing systems at Microsoft, traded FX derivatives at Deutsche Bank, and worked at Bridgewater Associates. His research experience spans Microsoft Research and Harvard Business School, with publications and invited talks across academia, central banks, and global forums including Davos and the World AI Summit. He holds degrees from Georgia Tech and the University of Chicago and is passionate about mixed martial arts. In this podcast, we discuss: Official Data Lags & Declining Survey Response Rates 1,000+ Alternative Data Pipelines for Macro State Mapping Real-Time Worker Bargaining Power vs. Lagged Wage Metrics Multimodal AI: CNNs, BERT, and Targeted LLM Workflows Nowcasting Lead: Gaining 2–3 Months Ahead of Official Prints Next-Generation Nowcasting vs. Atlanta Fed GDP Models Why the 2023 Yield Curve Recession Signal Failed Current US Economic State & The "K-Shaped" Consumer Portfolio Integration for Fundamental & Systematic Investors

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: $100 Brent and Historic Backwardation The Global Refined Product Crisis Hormuz "Shuttle Trade" and War Insurance Costs The Red Sea Chokepoint and Houthi Threat Russian Refinery Attacks and Fuel Export Bans China's Import Cuts and Hidden SPR Release China's Potential Winter Refining Bailout US Midterm Dilemmas and Export Ban Risks India's LPG Crisis and Offshore SPR Deals US Equity in Venezuela and Heavy Crude Spreads Canada's Westward Pipeline Push

Dominique Dwor-Frecaut is the Chief US economist and macro strategist for Macro Hive and is based in Los Angeles. Before that, she worked at various hedge funds, including Bridgewater. Prior to the buy side, she worked at the New York Fed, IMF, and the World Bank. She holds a PhD in Economics from the London School of Economics. In this podcast, we discuss: The "Low-Hire, Low-Fire" Labour Puzzle The Imported AI Capex Illusion Chips as the New Oil Supply Shock The K-Shaped Consumer & GFC-Level Delinquency The Fragile Savings Rate Cushion The Return of FOMC Dissension The Waller Swing Vote & the 2026 Rate Path The 2027 AI De-escalation Surprise

Branko is a research professor at the Stone Center on Socio-Economic Inequality at the City University of New York. He received his PhD from the University of Belgrade in 1987 and served as lead economist in the World Bank's Research Department for almost 20 years, leaving to write his book on global income inequality, Worlds Apart. He later worked at the Carnegie Endowment for International Peace in Washington, the University of Maryland, Johns Hopkins University, All Souls College in Oxford, and Universidad Carlos III in Madrid. Branko's main area of work is income inequality. He is the author of several books – the most recent one being The Great Global Transformation. In this podcast, we discuss: The Shift to National Market Liberalism The Geopolitical and Personal Impact of China The Rise of "Homoplutia" The "Folksy Elite" and Meritocratic Ideology India's Alternative Development Model Europe's Strategic and Economic Paradox The Policy Dilemma of the "Elephant Chart" Elite Multiplication and Youth Anxiety

Eric Beinhocker is a professor at the University of Oxford's Blavatnik School of Government and the founder and executive director of the Institute for New Economic Thinking at the Oxford Martin School (INET Oxford), a research center dedicated to applying innovative economics to major societal challenges. He is also Chairman of the Science Board at the Santa Fe Institute. Prior to his academic career, Beinhocker spent three decades as a technology entrepreneur, venture capitalist, and consultant to Fortune 500 companies. He is the author of The Origin of Wealth: The Radical Remaking of Economics and What It Means for Business and Society. The Collapse of Neoliberalism The "Market Humanism" Synthesis From Homoeconomicus to Homo Sapiens Markets as Evolutionary Engines Value as Problem-Solving The Structural Reality of Inequality "Middle-Out" vs. "Trickle-Down" Growth The State as a Market Shaper Macrocosm: Modelling the Economy with AI Human Skills in the Age of AI

Dr Clarida is a managing director and global economic advisor at PIMCO. Prior to rejoining PIMCO in 2022, he was the firm's global strategic advisor from 2006 to 2018. He served as Vice Chairman of the Board of Governors of the U.S. Federal Reserve System from September 2018 to January 2022. Richard is also Professor of Economics and International Affairs at Columbia University. Before joining PIMCO in 2006, he was Assistant Secretary of the Treasury for Economic Policy, in which he served as chief economic advisor to two U.S. Treasury Secretaries. Earlier in his career, he was with Credit Suisse and Grossman Asset Management. He has 26 years of investment experience and holds a PhD and a master's degree in economics from Harvard University. He received an undergraduate degree with Bronze Tablet Honors from the University of Illinois. In this podcast, we discuss: Clarida's Macro Origin Story Global Economic Resilience The AI Capex Boom Labour's Declining Income Share The "Warsh Fed" Doctrine Revisiting Forward Guidance AI's Impact on Productivity and R-star The Era of Global Fragmentation Optimism for the Next Generation You can follow Richard on LinkedIn as well as the PIMCO website.

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,