This week, we discuss America’s decaying two-tier economy, with Main Street stuck in a silent recession, the Fed trapped between fiscal dominance and market structure rot, and younger generations turning to crypto and speculation as their only escape from a rigged system. Enjoy!
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Weekly Roundup Charts: https://drive.google.com/file/d/1f1h9636F5tXpNPX6R5KxLnSi6BUpBnFN/view?usp=sharing
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Grayscale offers more than 30 different crypto investment products. Explore the full suite at grayscale.com. Invest in your share of the future. Investing involves risk and possible loss of principal.
https://www.grayscale.com/?utm_source=blockworks&utm_medium=paid-other&utm_campaign=brand&utm_id=&utm_term=&utm_content=audio-forwardguidance
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Timestamps:
(00:00) Introduction
(01:05) Fourth Turning Vibes
(04:00) K-Shaped Economy Continues
(07:43) The Market is Broken
(10:57) Government Role in Markets
(11:57) Grayscale Ad
(12:34) Government Role in Markets
(17:47) Market Structure Decay
(21:16) The Death of Retail
(25:21) Generational Release Valve
(28:33) Labor Market vs Automation
(31:28) Grayscale Ad
(32:14) Political Pivot for 2026
(35:18) Government Shutdown Ending?
(37:32) Is Bitcoin Finally Bottoming?
(42:33) Sad Crypto Market Structure
(45:19) Solving Crypto’s Problems
(48:52) Giving Back to the System
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Disclaimer: Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
#Macro #Investing #Markets #ForwardGuidance
In this episode, founder of Elm Wealth and co-founder of LTCM Victor Haghani shares lessons from Long-Term Capital Management and contrasts today’s highly levered hedge-fund world with LTCM’s era. He also explains Elm’s Dynamic Index Investing framework and why simplicity and discipline outperform complexity and return-chasing over time. Enjoy!
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Follow Victor: https://x.com/ElmWealth
Follow Felix: https://x.com/fejau_inc
Follow Forward Guidance: https://twitter.com/ForwardGuidance
Follow Blockworks: https://twitter.com/Blockworks_
Forward Guidance Telegram: https://t.me/+CAoZQpC-i6BjYTEx
__
Grayscale offers more than 30 different crypto investment products. Explore the full suite at grayscale.com. Invest in your share of the future. Investing involves risk and possible loss of principal.
https://www.grayscale.com/?utm_source=blockworks&utm_medium=paid-other&utm_campaign=brand&utm_id=&utm_term=&utm_content=audio-forwardguidance
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Timestamps:
(00:00) Introduction
(01:04) Insights from Victor’s Storied Career
(09:22) Today’s Market vs the 90s
(16:32) Grayscale Ad
(17:11) Fat Tails & Return Chasing
(28:41) Grayscale Ad
(29:29) Is Discretionary Macro a Fool’s Game?
(37:42) Portfolio Construction & Managing Risk
(44:33) Balancing Risk, Sizing, & Expected Returns
(50:15) What is Good Diversification?
(55:55) Exotic Forms of Diversification
(59:52) Final Thoughts
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Disclaimer: Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
#Macro #Investing #Markets #ForwardGuidance
