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Weekly market commentary by Hedge Fund Manager Erik Townsend and interviews with the brightest minds in the world of finance and macroeconomics. Made possible by funding from Fourth Turning Capital Management, LLC
Episodes

Dec 4, 2025
Dec 4, 2025
1 hr 12 min
MacroVoices Erik Townsend & Patrick Ceresna welcome, Marko Papic. We’ll discuss the deteriorating situation in Venezuela, the impacts of a potential Russia-Ukraine peace deal on markets, the spat between Japan and China, and the U.S. mid-term election cycle, considering the market impacts of all these developments. https://bit.ly/442T5gw
Register for Big Picture Trading's asymmetric challenge here: https://www.bigpicturetrading.com/challenge
🔻Download Big Picture Trading Chartbook 📈📉: https://bit.ly/4aqSkBK
✅Sign up for a FREE 14-day trial at Big Picture Trading: https://bit.ly/4d1fcag
🔴 Subscribe to Patrick’s Youtube Channel: https://www.youtube.com/@Patrick_Ceresna
🔴 Subscribe to Erik's Substack: https://eriktownsend.substack.com/

Nov 26, 2025
Nov 26, 2025
1 hr 4 min
MacroVoices Erik Townsend & Patrick Ceresna welcome, Lakshman Achuthan. They’ll discuss all things cycles, from the current outlook on growth and inflation cycles to how cycles in general perform in times like these when big political and geopolitical headlines are driving markets. https://bit.ly/4iGSes1
🔻Download Big Picture Trading Chartbook 📈📉: https://bit.ly/483OoFv
✅Sign up for a FREE 14-day trial at Big Picture Trading: https://bit.ly/4d1fcag
🔴 Subscribe to Patrick’s Youtube Channel: https://www.youtube.com/@Patrick_Ceresna
🔴 Subscribe to Erik's Substack: https://eriktownsend.substack.com/

Nov 20, 2025
Nov 20, 2025
1 hr 12 min
MacroVoices Erik Townsend & Patrick Ceresna welcome, Michael Howell. They’ll discuss the global liquidity cycle, why it has a 65-month periodicity, and where we stand in that cycle right now. https://bit.ly/3X7ZN0J
🔻Download Big Picture Trading Chartbook 📈📉: https://bit.ly/4pkiqdI
✅Sign up for a FREE 14-day trial at Big Picture Trading: https://bit.ly/4d1fcag
🔴 Subscribe to Patrick’s Youtube Channel: https://www.youtube.com/@Patrick_Ceresna
🔴 Subscribe to Erik's Substack: https://eriktownsend.substack.com/

Nov 13, 2025
Nov 13, 2025
57 min
MacroVoices Erik Townsend & Patrick Ceresna welcome, Mike Green. They’ll discuss everything from the reopening rally to precious metals to energy markets. https://bit.ly/49SQx89
🔻Download Big Picture Trading Chartbook 📈📉: https://bit.ly/4o064GN
✅Sign up for a FREE 14-day trial at Big Picture Trading: https://bit.ly/4d1fcag
🔴 Subscribe to Patrick’s Youtube Channel: https://www.youtube.com/@Patrick_Ceresna
🔴 Subscribe to Erik's Substack: https://eriktownsend.substack.com/

Nov 6, 2025
Nov 6, 2025
1 hr 7 min
MacroVoices Erik Townsend & Patrick Ceresna welcome, Michael Every. They’ll discuss the geopolitical situation and talk about what it means for markets. https://bit.ly/49AFRuQ
🔻Download Big Picture Trading Chartbook 📈📉: https://bit.ly/4973pY2
✅Sign up for a FREE 14-day trial at Big Picture Trading: https://bit.ly/4d1fcag
🔴 Subscribe to Patrick’s Youtube Channel: https://www.youtube.com/@Patrick_Ceresna
🔴 Subscribe to Erik's Substack: https://eriktownsend.substack.com/

Oct 30, 2025
Oct 30, 2025
1 hr 4 min
MacroVoices Erik Townsend & Patrick Ceresna welcome, Brent Johnson. They discuss why Brent says Stablecoin is going to be a game changer, even for those who aren’t interested in crypto assets. https://bit.ly/4oMi7IB
🔻Download Big Picture Trading Chartbook 📈📉: https://bit.ly/3X396yV
✅Sign up for a FREE 14-day trial at Big Picture Trading: https://bit.ly/4d1fcag
🔴 Subscribe to Patrick’s Youtube Channel: https://www.youtube.com/@Patrick_Ceresna
🔴 Subscribe to Erik's Substack: https://eriktownsend.substack.com/

Oct 23, 2025
Oct 23, 2025
1 hr 22 min
MacroVoices Erik Townsend & Patrick Ceresna welcome, Adam Rozencwajg. They discuss all things commodities from gold to oil to uranium. https://bit.ly/4oFcfAZ
🔻Download Big Picture Trading Chartbook 📈📉: https://bit.ly/3L28R4t
✅Sign up for a FREE 14-day trial at Big Picture Trading: https://bit.ly/4d1fcag
🔴 Subscribe to Patrick’s Youtube Channel: https://www.youtube.com/@Patrick_Ceresna
🔴 Subscribe to Erik's Substack: https://eriktownsend.substack.com/

Oct 16, 2025
Oct 16, 2025
52 min
MacroVoices Erik Townsend & Patrick Ceresna welcome, Tian Yang. They’ll discuss the leading indicators Variant Perception uses to guide their macro strategy, what they say about growth and inflation, and how that translates to trading opportunities. https://bit.ly/3KUt5Np
Variant Perception: https://variantperception.com/macro-pack/
🔻Download Big Picture Trading Chartbook 📈📉: https://bit.ly/478q6Zg
✅Sign up for a FREE 14-day trial at Big Picture Trading: https://bit.ly/4d1fcag
🔴 Subscribe to Patrick’s Youtube Channel: https://www.youtube.com/@Patrick_Ceresna
🔴 Subscribe to Erik's Substack: https://eriktownsend.substack.com/

Oct 9, 2025
Oct 9, 2025
1 hr 9 min
MacroVoices Erik Townsend & Patrick Ceresna welcome, Matt Barrie. They discuss all things AI in this week’s feature interview. Is it a bubble about to burst, or a new secular trend that will soon be bigger than the Internet itself? https://bit.ly/4h3y1f3
🔻Download Big Picture Trading Chartbook 📈📉: http://bit.ly/435x6ot
✅Sign up for a FREE 14-day trial at Big Picture Trading: https://bit.ly/4d1fcag
🔴 Subscribe to Patrick’s Youtube Channel: https://www.youtube.com/@Patrick_Ceresna
🔴 Subscribe to Erik's Substack: https://eriktownsend.substack.com/

Oct 2, 2025
Oct 2, 2025
1 hr 15 min
MacroVoices Erik Townsend & Patrick Ceresna welcome, Lyn Alden. Lyn picks up where Luke Gromen left off last week, sharing her views on what it would take to actually stop this train. http://bit.ly/48djn2y
🔻Download Big Picture Trading Chartbook 📈📉: https://bit.ly/4pSOuGU
✅Sign up for a FREE 14-day trial at Big Picture Trading: https://bit.ly/4d1fcag
🔴 Subscribe to Patrick’s Youtube Channel: https://www.youtube.com/@Patrick_Ceresna
🔴 Subscribe to Erik's Substack: https://eriktownsend.substack.com/
