The great monetary reset
A conversation with Marcel Kasumovich (CIO, Coinbase Asset Management) on all things macro and crypto.
Apr 12, 2025•2 hr 9 min•Ep. 47
Stray Reflections
Stray Reflections is a macro advisory and community for top CIOs and PMs across the globe. Our job is not to predict the future; it’s to see the present clearly. Discover investing ideas and advance your thinking in truly novel ways.
Episodes
The overbuilt AI dream
What if the AI boom is closer to a turning point than most realize?
Mar 31, 2025•10 min•Ep. 46
A post-bubble reality
This isn’t 1995; we’re now in a post-bubble world.
Mar 13, 2025•34 min•Ep. 45
Diary of a Trader
Paul Tudor Jones’ guidelines for trading success.
Feb 26, 2025•20 min•Ep. 44
American Exuberance
History and anecdotal evidence suggest that American exceptionalism is evolving into exuberance as we race toward the peak.
Feb 15, 2025•13 min•Ep. 43
Between worlds: endgame or new beginning?
Exploring the polarized possibilities of Trump’s presidency: a world teetering between unprecedented prosperity and catastrophic collapse.
Feb 08, 2025•54 min•Ep. 42
Magnificently Risky
What if the S&P 500 is reaching heights that won’t be surpassed for the rest of the decade? Have you considered that?
Jan 31, 2025•14 min•Ep. 41
The Inner Game of Trading
Trading is as much a mental and emotional challenge as it is about strategy and skill. The inner game defines how far you’ll go.
Jan 18, 2025•10 min•Ep. 40
A year in reflection
“Self-reflection is the school of wisdom,” wrote Baltasar Gracian. As we close the chapter on 2024, his words remind us of the value of looking back to truly understand the path ahead. In this annual review, we revisit what we shared, examine where we were right, acknowledge where we fell short, and consider what these lessons mean for the year ahead.
Jan 07, 2025•14 min•Ep. 39
A transformational journey awaits
We’re hosting the next Stray Reflections Retreat in Woodside, California, from May 5–8. Over four days, we’ll gather among the majestic redwoods to help you channel the success you’ve achieved in markets into other areas of life that need your care and attention.
Jan 01, 2025•4 min•Ep. 38
Fatherhood with Louis-Vincent Gave
This conversation on parenting and fatherhood speaks to something universal: how we navigate relationships, cultivate presence, and embrace the journey of becoming better human beings.
Dec 23, 2024•21 min•Ep. 37
Striking Thoughts
“To express oneself honestly—not lying to oneself—that, my friend, is very hard to do. That is what you must train for: to become one in a completely natural, uncontrived way.”
Dec 15, 2024•7 min•Ep. 36
Replay: The Middle East Diaries
The Middle East is undergoing a major transformation, but it is possible to know exactly what will happen in the future. The Abrahamic religions display certain convergences within the field of eschatology.
Dec 08, 2024•20 min•Ep. 35
Invest like it’s 1968
On a long enough timeline history repeats. But this isn’t 1995; we’re back in 1968.
Nov 29, 2024•18 min•Ep. 34
Reflecting on Ten Transformative Years
Reflecting on the past decade of my personal and professional journey.
Nov 22, 2024•1 hr 5 min•Ep. 33
The Pursuit of Profit
Will 2020s be the decade when workers reclaim the reins of power?
Nov 15, 2024•9 min•Ep. 32
Bull trap
The main purpose of the stock market is to make fools of as many men as possible.
Nov 08, 2024•8 min•Ep. 31
The American Myth
Has US military and financial power reached its limits? Pax Americana: is it really over? How safe are the dollar and US treasuries?
Nov 01, 2024•12 min•Ep. 30
The Corporation
One of the leading causes of the shift of American values and the destruction of the American dream was the rise of corporations.
Oct 25, 2024•9 min•Ep. 29
Après pandemic, le déluge?
I want to draw your attention to the mother of all worst-case scenarios—a climate risk that nobody is discussing. The global hydrological cycle is speeding up, and precipitation is becoming extreme. China is the country most vulnerable to flooding as global temperatures rise. Can aging dams maintain historical levels of flood protection in the face of extreme weather changes?
Jun 28, 2024•11 min•Ep. 28
The Graduate
The lessons from friends were more valuable than anything I learned in school. They taught me everything worth knowing.
Jun 21, 2024•3 min•Ep. 27
Old School Macro
This is my father's story.
Jun 16, 2024•9 min•Ep. 26
Gotta have faith
In this magical conversation with Brie Stoner, I explore the importance of having faith, the role of devotion, and the desire for integrity in our quest of being the best version of ourselves.
May 31, 2024•1 hr 4 min•Ep. 25
Recovering from a Drawdown
How do you recover from a drawdown? What’s the trick to remember the mistakes you are most prone to repeating? Why is it so important to forgive yourself? Todd Edgar joins us to discuss the emotional journey and ways to get back in the black.
May 24, 2024•53 min•Ep. 24
Diary of a Trader
Paul Tudor Jones’ guidelines for trading success.
May 17, 2024•20 min•Ep. 23
Build Yourself with Tony Fadell
Tony Fadell led the teams that created the iPod, iPhone, and Nest Learning Thermostat. His new product is a book called Build, and it instructs readers on building careers, products, companies—and even oneself. He joins us to share his practical wisdom.
May 10, 2024•1 hr 12 min•Ep. 22
China’s legacy and destiny: Confucius, Marx, and Xi Jinping
If you believe you have a good understanding of China, think again. Alice Wang joins me for the most insightful, thought-provoking, and heartfelt discussion on China you’ll ever come across.
May 03, 2024•2 hr 52 min•Ep. 21
Successful Fathers
Practical wisdom on parenting from the book "Successful Fathers" by James Stenson
Apr 26, 2024•29 min•Ep. 20
Masterclass with Greg Coffey (CIO, Kirkoswald)
Greg Coffey (CIO, Kirkoswald) delves into his distinguished trading career, sharing invaluable lessons and tracing his personal growth. He elaborates on his approach to risk management, offering practical advice to build portfolios that are “sensible and bulletproof.”
Apr 19, 2024•14 min•Ep. 19
Anomalies with Karen Karniol-Tambour (Co-CIO, Bridgewater)
The beauty of macro is to look for anomalies and exploit them. Why is something happening that shouldn’t, or why isn’t something happening that should? Karen Karniol-Tambour (co-CIO, Bridgewater) shares her perspective on a few key anomalies.
Apr 12, 2024•11 min•Ep. 18