Macro Hive Conversations With Bilal Hafeez

Available Episodes

5 of 297

Ep. 337: Sangeet Paul Choudary on What Everyone Is Getting Wrong on AI
Sangeet Paul Choudary is the best-selling co-author of Platform Revolution and author of the new book Reshuffle. He has advised leadership teams at over 40 Fortune 500 companies—including Nestlé, ExxonMobil, Daimler, ING, and Booking.com—as well as pre-IPO tech firms. Sangeet currently serves as a Senior Fellow at the University of California, Berkeley, and has spoken at global forums such as the G20 Summit, World50 Summit, and the World Economic Forum.
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50:50
Ep. 336: David Dredge on Sharpe Ratio Fallacy, Capturing Upside and Managing Uncertainty
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).
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Ep. 335: Marc Rubinstein on AI Bubble, Private Credit, Jane Street Rise
Marc Rubinstein is author of Net Interest – a leading weekly newsletter on the world of finance. Before this, Marc spent ten years at leading hedge fund Lansdowne Partners, where he was a partner and portfolio manager. This was after he spent time on the sell-side working for Barclays Investment Bank (BZW), Schroders and then Credit Suisse, where he was head of the European banks research team. In this podcast we discuss:. AI bubble historical analogies 1907 crisis and non-bank growth Private credit risks Fraud cycles and market corrections Jane Street's technological edge Exchanges commoditise trading Banks adopt blockchain technology Fintech challenges incumbents AI disrupts entry-level finance jobs Books mentioned: 1929 (Andrew Ross Sorkin), Land Trap (Mike Bird)
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Ep. 334: Mark Farrington on Dollar Dominance, China's Gold Play and Crisis Catalysts
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.
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Ep. 333: David Samra on Value Investing, AI Returns, and Bad Management Teams
David Samra is a managing director of Artisan Partners – the $180bn global multi-asset investment platform. He is founding partner of the International Value Group, and portfolio manager of the Artisan International Value Fund, which he has managed since the portfolio's inception in September 2002. David has been nominated for the Morningstar International Stock Fund Manager of the Year Award six times. In this podcast, we discuss: Economic Value Added (EVA) and what makes a good business versus a bad business Principles of value investing Finding undervalued securities through screening and cumulative knowledge Good versus bad management teams The erosion of competitive moats over time, particularly in consumer brands and technology Deep dive into Arch Capital as a case study of a successful investment with unique competitive advantages Shareholder activism as a tool for protecting investments and influencing management Challenges of managing large amounts of capital and finding opportunities in current markets AI investment, capital intensity in tech, and concerns about future returns on capital Views on private markets Books mentioned: Quest for Value (Stewart), The Intelligent Investor (Graham), The Money Masters (Train), and Frederick and Frederica (Helprin). You can follow David's work here.
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58:48
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58:48