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Forward Guidance

Blockworks
Inflation
Federal Reserve
Bitcoin
Interest Rates
Monetary Policy
Tariffs
Labor Market
China
Economic Growth
Gold
Fiscal Policy
U.S. Economy
Stablecoins
Emerging Markets
Crypto
Market Volatility
Stock Market
Cryptocurrency
Recession
Artificial Intelligence

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: twitter.com/fejau_inc Follow Forward Guidance: twitter.com/ForwardG... more

PublishesTwice weeklyEpisodes597Founded5 years ago
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Artwork for Forward Guidance

Latest Episodes

Markets feel stable on the surface, but conflicting forces are building around Fed uncertainty, AI-driven growth, and structural imbalances that may not coexist for long.

This week, we break down break down the Warsh hearing and concerns over Fed cr... more

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Liquidity may be sending a very different signal than most investors think, challenging the dominant narrative around growth, rates, and risk.

We sit down with Michael Howell of CrossBorder Capital, a leading voice on global liquidity, to unpack whe... more

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Markets are ripping higher, but something underneath feels increasingly disconnected from reality.

This week, we break down the growing dominance of flows, derivatives, and policy over fundamentals, and what that means for how markets actually move.... more

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AI is reshaping how decisions get made in markets, but does faster insight actually create better outcomes, or just new risks?

We speak with Jan Szilagyi, CEO of Reflexivity and former global macro investor, on how AI is being deployed inside hedge ... more

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Recent Guests

Jan Szilagyi
CEO and co-founder of Reflexivity
Reflexivity
Episode: How the World’s Biggest Macro Hedge Funds Are Using AI | Jan Szilagyi
Jacob Shapiro
Independent geopolitical analyst; host of the Jacob Shapiro Podcast and Geopolitical Cousins
Self-employed
Episode: The Iran War is Accelerating the End of Globalism | Jacob Shapiro
Governor Miran
Federal Reserve governor discussing macro policy and recent FOMC developments
Federal Reserve
Episode: Fed Governor Miran on Why Inflation Fears Are Overstated
Stephen Moran
Federal Reserve Governor
Federal Reserve
Episode: The Fed Is Trapped As Oil Drives Inflation Higher | Weekly Roundup
Eric Wallerstein
Chief Macro Strategist at Clocktower Group
Clocktower Group
Episode: The Global Economy Is Splitting Into Spheres | Eric Wallerstein
David LaJuan
Head of Research at Anchorage Digital
Anchorage Digital
Episode: Introducing: Inflection Point | The Crypto-TradFi Convergence
Michael Marcantonio
Head of DeFi at Galaxy Digital
Galaxy Digital
Episode: Introducing: Inflection Point | The Crypto-TradFi Convergence
Luigi Buttiglione
CEO and founder of LB Macro
LB Macro
Episode: The AI Productivity Boom Is Here | Luigi Buttiglione
James Seyffart
Bloomberg Senior Research Analyst, known for his expertise in crypto ETFs.
Bloomberg
Episode: What ETF Flows Are Telling Us About Investor Appetite | James Seyffart

Host

Felix Jauvin
Host of Forward Guidance

Reviews

4.6 out of 5 stars from 1k ratings
  • MAGA Perspective

    Great if you want the MAGA perspective on markets where election fraud was real and everything is Biden’s fault

    Apple Podcasts
    1
    mksp3
    United States4 months ago
  • Should change the name to Upward guidance.

    I’m sorry. I admit I am an older guy and I’ve tried to listen to this podcast, but I just cannot last longer than a couple of minutes. I don’t doubt the knowledge of these young fellas. However,

    the “uptalking”, sentence after sentence, drives me insane. It sounds like a bunch of 13 year old girls talking about finance with their voice tone lowered with AI.

    Please, for the sake of your older listeners, learn to speak normally and not like you live in a Starbucks 50 hours a week. Am I the only o... more

    Apple Podcasts
    1
    jack mule
    United States5 months ago
  • Fiat tradfi fiat tradfi

    The constant ref to “tradfi” and “fiat” in total seriousness was too much in the end. That and the comment from the loud guy that “actually I heard people really like it” in reference to troops in D.C. Absolute clown.

    Apple Podcasts
    2
    Jhockey sauce
    Denmark8 months ago
  • Usually good

    I usually like this podcast but grow weary of the rejoicing in the pain of others.

    Apple Podcasts
    2
    GR82BAU
    United States9 months ago
  • My fav

    Fantastic intersection of informative, actionable content and entertainment. Best host of a financial podcast I’ve listened to. Love it.

    Apple Podcasts
    5
    SarahPayne100
    United States9 months ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Thoughtful macro analysis with strong guests; useful for investors tracking institutional trends.

Chart Rankings

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Talking Points

Recent interactions between the hosts and their guests.

How the World’s Biggest Macro Hedge Funds Are Using AI | Jan Szilagyi
Q: How do you think about hallucinations when there's very high stakes and billions of dollars depend on these decisions?
Hallucinations are mitigated by a code-first approach, explicit data access checks, auditable step-by-step reasoning, and reliance on premium data sources; the system returns errors when data is unavailable and remains transparent about data provenance.
How the World’s Biggest Macro Hedge Funds Are Using AI | Jan Szilagyi
Q: Walk us through where the biggest use case is happening right now.
The biggest use case is testing and validating investment theses quickly by bridging data and reasoning through a knowledge graph, enabling rapid 'kick the tires' analysis and identification of unknowns, while maintaining auditability and reducing blind spots.
Markets Are Misreading A Late Cycle Liquidity Crunch | Michael Howell
Q: What are the dominant drivers you see for the next couple of years, particularly regarding Treasury QE versus Fed QE, and how might that shape liquidity?
The dominant driver is Treasury QE, particularly the shift toward more bills and shorter-duration issuance, which can improve liquidity in the system by reducing long-dated supply while maintaining overall issuance. This duration-focused shift, along with the Fed's balance-sheet dynamics and potential deregulation that could alter private-sector liquidity, suggests a regime where liquidity is influenced more by fiscal operations and collateral dynamics than by traditional QE, with significant implications for the yield curve and asset allocation.
Markets Are Misreading A Late Cycle Liquidity Crunch | Michael Howell
Q: Could you just better explain the difference between the business cycle and the liquidity cycle for the audience?
The liquidity cycle is about the money available to finance debt and collateral, which can move independently of the real economy. When liquidity is plentiful, risk assets perform well and the cycle moves in one direction; when liquidity tightens, debt refinancing becomes harder, collateral values adjust, and risk assets falter even if the real economy appears robust. In other words, debt needs liquidity to rollover, while liquidity itself is shaped by policy, balance sheets, and demand for safe assets, leading to countercyclical dynamics with the real economy lagging or leading the markets depending on the phase.
AI Will Drive The Biggest Boom In History | Raoul Pal
Q: How are you thinking about the geopolitical and macro backdrop shaping the AI race?
The dynamic is a two-country competition (US and China) with broad implications for energy, finance, and technology; collaboration or peaceful alignment seems likely to be the path, but absolute dominance by one region could trigger strategic shifts globally.

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Frequently Asked Questions About Forward Guidance

What is Forward Guidance about and what kind of topics does it cover?

A macro-focused show where the host engages top minds in finance to explore which assets and market themes will thrive in the evolving monetary landscape. Episodes routinely tackle AI-driven productivity, institutional adoption of crypto, macro policy, energy and geopolitical shocks, and the shifting sands of traditional and digital assets. Notable strengths include a clear emphasis on actionable macro theses, a willingness to feature prominent institutional guests, and a calm, direct interviewing style that aims to illuminate complex topics for sophisticated investors. Potential listeners who want frameworks for navigating cross-asset cycles, or insights from practitioners shaping institutional strategies, are likely to find it valuable.

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Which podcasts are similar to Forward Guidance?

These podcasts share a similar audience with Forward Guidance:

1. Monetary Matters with Jack Farley
2. Macro Voices
3. The Market Huddle
4. Thoughtful Money with Adam Taggart
5. The Macro Trading Floor

How many episodes of Forward Guidance are there?

Forward Guidance launched 5 years ago and published 597 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on Forward Guidance?

Recent guests on Forward Guidance include:

1. Jan Szilagyi
2. Jacob Shapiro
3. Governor Miran
4. Stephen Moran
5. Eric Wallerstein
6. David LaJuan
7. Michael Marcantonio
8. Luigi Buttiglione

To view more recent guests and their details, simply upgrade your Rephonic account. You'll also get access to a typical guest profile to help you decide if the show is worth pitching.

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