Macro Hive Conversations With Bilal Hafeez

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Ep. 352: Richard Schimel on Platform Evolution, Collaborative Culture, and Navigating Market Risks Apr 06, 2026

Show notes

Richard Schimel is the Co-Founder and Co-CIO of Cinctive Capital Management – a leading multi-strategy alternative asset manager. Rich has over 30 years of experience in the investment management industry. Prior to Cinctive, Rich was Head of Aptigon Capital, a division of Citadel, where he served on the firm's Portfolio Committee. Before that, Rich founded and served as the CIO of Sterling Ridge Capital. Earlier in his career, Rich co-founded Diamondback Capital, where he co-managed the firm as well as portions of the firm's overall investment strategy. Before Diamondback, Rich began his buy-side career at SAC Capital, where he was a portfolio manager. In this podcast, we will discuss:

The "Sweet Spot" for Alpha
Silos vs. Collaborative Culture
Protecting the Left Tail
AI Beyond Tech: The Power Theme
The Pendulum Swing to Hedge Funds
Middle East: The New Financial Hub
The "Pattern Recognition" of Talent
Fed and Sector Outlook

Ep. 351: Tyler Goodspeed on Recession Myths, the Reality of Economic Shocks, and Policy Hubris Mar 27, 2026

Show notes

Dr. Tyler Goodspeed chaired the White House Council of Economic Advisers from 202-21. During his tenure on the council, he also chaired the Economic Policy Committee at the Organisation for Economic Co-operation and Development (OECD).

From 2021 through 2023, Tyler was a Director and Chief Economist at Greenmantle, a New York and London-based macroeconomic and geopolitical consulting firm. The author of four books on economic history, Tyler holds a PhD in economics from Cambridge University and a PhD in history from Harvard University,

He is currently a Senior Fellow at the Adam Smith Institute in London and a member of the Geoeconomic Council of Advisers at the Center for Strategic and International Studies.

All views are his own and not any of the organisations he is affiliated with.

In this podcast, we discuss:

The "Boom-Bust" Myth
Recessions as "Apophonies"
Expansions Do Not Die of Old Age
Policy Hubris
The 1785 Structural Break
Supply Shocks as Choke Points
Misnaming the 2001 Recession
The 2008 Energy and Mortgage Intersection
Impairment of Creative Destruction
Fidelity to Long-Run Trends

Ep. 350: Tomasz Nadrowski on China's Mineral War, Western Supply Chain Gaps, and Global Resilience Mar 20, 2026

Show notes

Tomasz Nadrowski is a portfolio manager at the Amvest Terraden Critical Minerals Fund. He was a former Director at the World Economic Forum and Vice President of Business Development at AngloGold Ashanti, then the world's largest gold producer. Tomasz has spent over fifteen years managing commodity and mining equity portfolios for hedge funds and family offices across the U.S., Europe, and Asia.

He is fluent in seven languages and a regular contributor to Oxford Analytica. He combines deep industry knowledge with a strategic understanding of how resources, markets, and power intersect in today's shifting geopolitical landscape. He is also the host of the podcast Tyranny Today. In this podcast, we discuss:

Geopolitics vs. the Commodity Cycle
China's VAT Rebate and Value-Added Strategy
Critical Choke Points: Rare Earths, Graphite, and Gallium
Regulatory Roadblocks and the Stigma of "Dirty" Mining
The Abdication of Western Capital Markets
Human Capital Gaps and the "Octogenarian Engineer" Problem
Geoeconomic Pricing: Disincentivising New Capacity
From "Just-in-Time" to "Just-in-Case" Production
Japan's "House of Brick" Model for Resilience
The Mineral War and the "Soul" of AI
A Shift Toward Oligopolistic Competition

Ep. 349: Nader Itayim on Iran's Regional War, the Hormuz Choke Point, and Global Energy Disruption Mar 13, 2026

Show notes

Nader is Argus' Middle East editor, based in Dubai. Argus is a leading independent provider of global energy and commodity market intelligence. Nader has more than 15 years of experience covering oil and gas in the region, and today heads up the company's Middle East and OPEC coverage. Prior to moving to Argus in 2015, Nader spent five years with the Middle East Economic Survey (MEES) weekly in Cyprus. In this podcast, we discuss:

Inevitable Escalation with Iran
Iran's Decentralised Resilience
The Rise of Mojtaba
Regional Retaliation Strategy
The Hormuz Choke Point
Modern Tanker War Risks
8 Million Barrels Offline
Limits of the Global SPR
Sentiment-Driven Volatility
Houthi Autonomy and the Red Sea

Ep. 348: Alex Campbell on Commodity Diversification, AI strategies, and the Moneyball Approach Mar 06, 2026

Show notes

Alex has 20 years of experience at the intersection of finance and data. He has been a global macro investor at firms like Bridgewater Associates and a proprietary volatility trader at Lehman Brothers. Prior to his career as a data-driven speculator, Alex received an MBA from Stanford Business School, an MPhil in Economics (Game Theory) from the University of Oxford, and a BA (Hons) in Economics from McGill University. In this podcast, we discuss:

Fantasy Baseball to Prop Trading
Diversification as the "Free Lunch"
Gold vs. The Chinese Credit Bubble
Silver as the "Money that Generates Electricity"
The "Long API, Short Slides" Thesis
China's Sceptical Data
Copper vs. Iron Divergence
The Future of Systematic Investing

Ep. 347: Raphaël Gallardo on Austrian Economics, Wobbling AI Bubbles, and Trump Risk Parity Feb 27, 2026

Show notes

Raphaël Gallardo is Chief Economist within the Cross-Asset team at Carmignac. Carmignac is a leading European investment management boutique established in 1989, with over EUR 40 bn in assets under management. Raphaël joined them in 2018. He started his career in 1997 at BNP Paribas, where he spent ten years as a Quantitative Analyst within the Risk Department, a Country-risk Economist, a Financial Engineer specialising in interest rate risk, and ultimately a cross-asset strategist. In 2007, he joined Axa IM as Head of Macroeconomic Research and moved to Rothschild & Cie Gestion in 2012 to occupy the same position. From 2013 to 2018, he was Cross-Asset Strategist at Ostrum Asset Management. Raphaël holds an Engineering Degree from École Nationale Supérieure des Mines de Paris. In this podcast, we discuss:

Austrian Economics Framework
Three "Wobbling" Bubbles
The "Sad" AI Bubble
Trump Risk Parity Portfolio
Spain's "Virtuous Circle"
France's Fiscal Existential Risk
Japan's Vicious Circle
China's Dual Economy
Death of the Risk-Free Asset
2026–2027 Outlook

Ep. 346: Alex Gurevich on US Return to Zero Rates, AI Productivity, and Managing Portfolio Paralysis Feb 20, 2026

Show notes

Alex Gurevich is the founder of HonTe Investments. After earning a PhD in mathematics from the University of Chicago, he leveraged his passion for strategic gaming into a lucrative Wall Street career. He has been hailed by The Wall Street Journal as the star trader of J.P. Morgan, where he served as Managing Director in charge of global macro trading and, in 2020, was leading HonTe's macro strategy when he ranked second by net return according to BarclayHedge. Alex is the bestselling author of The Next Perfect Trade and The Trades of March 2020. In this podcast, we discuss:

The 10-Year "Test of Time" Retrospective
The "Swim with the Tide" Framework
Rethinking "Tight Stops" in Risk Management
Strategies to Overcome Portfolio Paralysis
Betting on the "Necessary" vs. "Sufficient"
Japan's Search for the "Perfect Trade"
The Case for the Fed Returning to 0%
AI-Driven Technological Displacement
Energy as the "Bottleneck" for AI Growth
Evolving Views on Option Usage

Ep. 345: Marc Elovitz on Private Market Evolution, Crypto's Regulatory Shift, and AI Explainability Feb 13, 2026

Show notes

Marc Elovitz is Global Head of Investment Management Regulatory at McDermott Will & Schulte – a leading global law firm. Marc advises private fund managers on running their businesses consistent with all relevant laws, regulations and legal requirements. Marc's cutting-edge work also covers the latest trends of interest to private funds, including blockchain technology and digital assets. He advises on the legal and regulatory considerations involving virtual and digital currency business initiatives and the blockchain technology behind them. In this podcast, we discuss:

From Litigation to Regulation
The Private Market Boom
"Project Crypto" and Regulatory Harmonisation
Beyond Digital Gold
The Yield Obstacle in Stablecoins
Future-Proofing Digital Assets
The Trust Factor in Private Equity
Solving the AI Explainability Crisis
The Delaware Governance Battle
Perspective through Fiction

Ep. 344: Sean McGould on Multi-Strategy Investing, Trump 2.0, and the AI 'Digital Tool' Era Feb 06, 2026

Show notes

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.

Ep. 343: Srividya Jandhyala on Changing Corporate Behaviour to Geopolitical Risks, and 'The Great Disruption' Jan 30, 2026

Show notes

Srividya Jandhyala is a professor of Management at ESSEC Business School in Singapore. Her research focuses on global strategy, geopolitics, and international business. She is the author of the best-selling book 'The Great Disruption: How Geopolitics is Changing Companies, Managers, and Work'. Before ESSEC, she was a Fung Global Fellow at Princeton University. She also served on the faculty of George Washington University in Washington, D.C., and she received her PhD in Management from the Wharton School at the University of Pennsylvania. In this podcast, we discuss:

Geopolitics as a Structural Headwind
The End of the "Flat World"
Why Corporate Nationality Trumps Product
Lessons from Mining and Energy Sectors
The Jenga Tower of Global Friction
Sovereign AI and Geopolitical Tech
China's "Singapore" Playbook
The Erosion of the Rules-Based Order
Localization and the "Societal License" to Operate
The Shift from "Event-Based" Thinking

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