Macro outlook, economic regimes, cycle positioning and leading indicators that shape how portfolios are structured
What I’m paying attention to John Spencer, Executive Director of the Urban Warfare Institute, writing on his Substack, 4 April 2026. Read the full piece here. Follow Spencer on X at @SpencerGuard. What it says Sun Tzu is one of the most quoted and least understood strategists in history. Spencer’s contribution is to strip away…
What I’m listening to Michael Howell on George Noble’s podcast, 30 March 2026. Follow Howell at @crossbordercap What it says The global liquidity cycle has peaked. Howell projects a structural bottom in 2027, driven by a refinancing trap where exponential debt growth outpaces the capacity of financial balance sheets to roll it over cleanly. Why…