Macro Hive Conversations With Bilal Hafeez

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.

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

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

Phil is the founder of Suttle Economics – a leading research consultancy. Before that, he held senior roles at Tudor, the Institute of International Finance (IIF), JP Morgan, Barclays, the New York Fed and World Bank. He was educated at Oxford University and lives in the US. In the podcast, we talk about: 

US Labour Market Dissonance
Trump's "Elizabeth Warren" Populism
The Productivity Mystery
Fed Under Pressure
Sticky Inflation Through 2027
Global Business Disruptions
Extreme Oil Volatility
Japan's Policy Pivot
China's Sluggish Consumer
European and UK Growth
Historical Parallels to Populism

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