<![CDATA[Blind Squirrel Macro: Benny & The Squirrel]]>https://www.blindsquirrelmacro.com/s/benny-and-the-squirrelhttps://substackcdn.com/image/fetch/$s_!eQxr!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa37bfaa8-247f-49a6-8128-a6e3232610fb_1280x1280.pngBlind Squirrel Macro: Benny & The Squirrelhttps://www.blindsquirrelmacro.com/s/benny-and-the-squirrelSubstackThu, 24 Sep 2026 09:07:49 GMT<![CDATA[Running The Gauntlet!]]>https://www.blindsquirrelmacro.com/p/running-the-gauntlethttps://www.blindsquirrelmacro.com/p/running-the-gauntletSun, 20 Sep 2026 22:09:58 GMT

IMPORTANT NOTICE

Fully revamped and upgraded show notes (plus lots of bonus content and material) are now being sent out by Benny & The Squirrel directly. These notes will usually come out a few hours after the show is live on YouTube.

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Benny & The Squirrel
Benny & The Squirrel is a twice weekly show about finance and markets. The show notes for members are hosted here on Substack.
By Benny and the Squirrel

Episode 88 was recorded at 6.30 EST on Sunday 20th September, 2026

If you act on anything provided in this newsletter, you agree to the terms in this disclaimer. Everything in this newsletter is for educational and entertainment purposes only and NOT investment advice. Nothing in this newsletter is an offer to sell or to buy any security. The author is not responsible for any financial loss you may incur by acting on any information provided in this newsletter. Before making any investment decisions, talk to a financial advisor.

]]><![CDATA[Oil to $240!]]>https://www.blindsquirrelmacro.com/p/oil-to-240https://www.blindsquirrelmacro.com/p/oil-to-240Thu, 17 Sep 2026 22:01:08 GMT

IMPORTANT NOTICE

Fully revamped and upgraded show notes (plus lots of bonus content and material) are now being sent out by Benny & The Squirrel directly. These notes will usually come out a few hours after the show is live on YouTube.

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Benny & The Squirrel
Benny & The Squirrel is a twice weekly show about finance and markets. The show notes for members are hosted here on Substack.
By Benny and the Squirrel

Episode 87 was recorded at 4.30 EST on Thursday 17th September, 2026. Rob Connors of joins Benny and the Squirrel to explain why he doesn't count barrels, why the marginal cost of production is the only number that matters in oil, and why he thinks crude is heading to $240 before this cycle is done!

We get into the well productivity slowdown that signals rising development costs, the "China collar" and the renminbi signal, why big tech's trillion-dollar capex binge is a replay of big oil in 2013, the refining secondary-unit squeeze, and where we are in the energy equity cycle (inning four or five, with parabolic euphoria still ahead).

If you act on anything provided in this newsletter, you agree to the terms in this disclaimer. Everything in this newsletter is for educational and entertainment purposes only and NOT investment advice. Nothing in this newsletter is an offer to sell or to buy any security. The author is not responsible for any financial loss you may incur by acting on any information provided in this newsletter. Before making any investment decisions, talk to a financial advisor.

]]><![CDATA[The Bond Bull is Back!]]>https://www.blindsquirrelmacro.com/p/the-bond-bull-is-backhttps://www.blindsquirrelmacro.com/p/the-bond-bull-is-backSun, 13 Sep 2026 23:37:51 GMT

IMPORTANT NOTICE

Fully revamped and upgraded show notes (plus lots of bonus content and material) are now being sent out by Benny & The Squirrel directly. These notes will usually come out a few hours after the show is live on YouTube.

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Benny & The Squirrel
Benny & The Squirrel is a twice weekly show about finance and markets. The show notes for members are hosted here on Substack.
By Benny and the Squirrel

Episode 86 was recorded at 6.30 EST on Sunday 13th September, 2026 - and it’s another UNMISSABLE Sunday Show!

If you act on anything provided in this newsletter, you agree to the terms in this disclaimer. Everything in this newsletter is for educational and entertainment purposes only and NOT investment advice. Nothing in this newsletter is an offer to sell or to buy any security. The author is not responsible for any financial loss you may incur by acting on any information provided in this newsletter. Before making any investment decisions, talk to a financial advisor.

]]><![CDATA[Crackers About Caracas!]]>https://www.blindsquirrelmacro.com/p/crackers-about-caracashttps://www.blindsquirrelmacro.com/p/crackers-about-caracasFri, 11 Sep 2026 00:00:47 GMT

IMPORTANT NOTICE

Fully revamped and upgraded show notes (plus lots of bonus content and material) are now being sent out by Benny & The Squirrel directly. These notes will usually come out a few hours after the show is live on YouTube.

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Benny & The Squirrel
Benny & The Squirrel is a twice weekly show about finance and markets. The show notes for members are hosted here on Substack.
By Benny and the Squirrel

Episode 85 was recorded at 6.30 EST on Thursday 10th September, 2026. We were joined by Herve van Caloen, Founder and CIO of Mercator Investment Management. Starting his career as an analyst at Scudder, Stevens and Clark in 1985, when global investing was still in its infancy.

He later launched The PaineWebber Europe Growth Fund, the first mutual fund specializing in both Western Europe and in the former communist countries of central Europe. In the mid 1990s, Mr. van Caloen led the international investment effort at Provident Capital Management and later served as First Vice President of Schroders in New York.

Follow Herve on LinkedIn and Twitter.

If you act on anything provided in this newsletter, you agree to the terms in this disclaimer. Everything in this newsletter is for educational and entertainment purposes only and NOT investment advice. Nothing in this newsletter is an offer to sell or to buy any security. The author is not responsible for any financial loss you may incur by acting on any information provided in this newsletter. Before making any investment decisions, talk to a financial advisor.

]]><![CDATA[Xmas Tree of Death]]>https://www.blindsquirrelmacro.com/p/xmas-tree-of-deathhttps://www.blindsquirrelmacro.com/p/xmas-tree-of-deathMon, 07 Sep 2026 00:11:01 GMT

IMPORTANT NOTICE

Fully revamped and upgraded show notes (plus lots of bonus content and material) are now being sent out by Benny & The Squirrel directly. These notes will come out tomorrow. Please si…

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]]><![CDATA[You Don’t Own Enough Japan!]]>https://www.blindsquirrelmacro.com/p/you-dont-own-enough-japanhttps://www.blindsquirrelmacro.com/p/you-dont-own-enough-japanFri, 04 Sep 2026 01:08:55 GMT

IMPORTANT NOTICE

Fully revamped and upgraded show notes (plus lots of bonus content and material) are now being sent out by Benny & The Squirrel directly. These notes will usually come out a few hours…

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]]><![CDATA[Jackson Hole Hangover]]>https://www.blindsquirrelmacro.com/p/jackson-hole-hangoverhttps://www.blindsquirrelmacro.com/p/jackson-hole-hangoverSun, 30 Aug 2026 23:45:41 GMT

Episode 82 was recorded at 6.40pm EST on Sunday 30th August, 2026.

The show has expanded on the socials! Follow us on Instagram and / or TikTok (if you do that kind of thing!)

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]]><![CDATA[Around the World with Chase Taylor]]>https://www.blindsquirrelmacro.com/p/around-the-world-with-chase-taylorhttps://www.blindsquirrelmacro.com/p/around-the-world-with-chase-taylorFri, 28 Aug 2026 00:50:54 GMT

Episode 81 was recorded at 6pm EST on Thursday 27th August, 2026. We were delighted to be joined by my pal Chase Taylor. Chase is is a busy guy. He is Founder and ‘Chief Cone’ at Pinecone Macro as well as Head of Research at Bulwark Capital Management.

The show has expanded on the socials! Follow us on Instagram and / or TikTok (if you do that kind of thing!)

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]]><![CDATA[The World in 2046 - Part II]]>https://www.blindsquirrelmacro.com/p/the-world-in-2046-part-iihttps://www.blindsquirrelmacro.com/p/the-world-in-2046-part-iiSun, 23 Aug 2026 23:42:54 GMT

Episode 80 was recorded at 6.45pm EST on Sunday 23rd August, 2026.

The show has expanded on the socials! Follow us on Instagram and / or TikTok (if you do that kind of thing!)

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]]><![CDATA[From Wall Street to Y’all Street]]>https://www.blindsquirrelmacro.com/p/from-wall-street-to-yall-streethttps://www.blindsquirrelmacro.com/p/from-wall-street-to-yall-streetFri, 21 Aug 2026 00:23:44 GMT

Episode 79 was recorded at 5.30pm EST on Thursday 20th August, 2026. We were once again joined by Brent Johnson of .

The show has expanded on the socials! Follow us on Instagram and / or TikTok (if you do that kind of thing!)

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]]><![CDATA[Volatility Takes a Summer Nap]]>https://www.blindsquirrelmacro.com/p/volatility-takes-a-summer-naphttps://www.blindsquirrelmacro.com/p/volatility-takes-a-summer-napSun, 16 Aug 2026 23:32:48 GMT

Episode 78 was recorded at 6.30pm EST on Sunday 17th August, 2026.

The show has expanded on the socials! Follow us on Instagram and / or TikTok (if you do that kind of thing!)

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]]><![CDATA[Fading the K-Shaped Economy Narrative]]>https://www.blindsquirrelmacro.com/p/fading-the-k-shaped-economy-narrativehttps://www.blindsquirrelmacro.com/p/fading-the-k-shaped-economy-narrativeFri, 14 Aug 2026 00:16:27 GMT

Benny () & The Squirrel were joined once again by Jeff. Jeff founded Macke Asset Management after getting his MBA from Stanford in the 1990s. He wrote for TheStreet.com, Minyanville and Yahoo Finance. He was also a founding cast member of CNBC’s Fast Money and an anchor on Yahoo Finance.

Jeff learned his trade on the knee of his dad who was the CEO of Target for over a decade. You could say US retail runs through Jeff’s blood. You can find his subscriber content over at StockMarket TV as well as at Wall Street Beats where he is a partner there with Benny.

The discussion argues that the US consumer is materially healthier in observed spending data than the prevailing macro narrative suggests. The core investment implication is that heavily shorted, low-expectation retail, restaurant, leisure, and turnaround names can produce outsized returns when results merely show that conditions are “fine,” particularly while capital remains concentrated in AI and semiconductors.

The show was recorded at 6pm EST on Thursday 13th August.

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]]><![CDATA[Is AI Profitable?]]>https://www.blindsquirrelmacro.com/p/is-ai-profitablehttps://www.blindsquirrelmacro.com/p/is-ai-profitableSun, 09 Aug 2026 23:21:50 GMT

Episode 74 was recorded at 6.00pm EST on Sunday 9th August, 2026.

The show has expanded on the socials! Follow us on Instagram and / or TikTok (if you do that kind of thing!)

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]]><![CDATA[Mike's New Adventure]]>https://www.blindsquirrelmacro.com/p/mikes-new-adventurehttps://www.blindsquirrelmacro.com/p/mikes-new-adventureThu, 06 Aug 2026 23:22:17 GMT

Benny () & The Squirrel were joined once again by Mike.

The show was recorded at 6pm EST on Thursday 6th August.

⚠️ Audio Quality Warning & Apology ⚠️
We want to sincerely apologize for the audio issues on our end during this episode. Blame Caribbean Telecoms! However, we decided to publish this because Mike Green's audio is perfectly clear, and since he is delivering the vast majority of the insights and doing most of the talking, we didn't want you to miss out on this incredible conversation.

Benny & The Squirrel will be back on Sunday evening for our regular ‘Start the Week’ show.

Become a paid subscriber to get full show notes, the slide deck, the audio edition and the rest of the 🐿️’s work!

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]]><![CDATA[Checking in on The Cult]]>https://www.blindsquirrelmacro.com/p/checking-in-on-the-culthttps://www.blindsquirrelmacro.com/p/checking-in-on-the-cultSun, 02 Aug 2026 22:06:18 GMT

Episode 74 was recorded at 5.00pm EST on Sunday 2nd August, 2026. Don’t miss this week’s guest show on Thursday evening (6.30pm EST). is back on with us!

The show has expanded on the socials! Follow us on Instagram and / or TikTok (if you do that kind of thing!)

Benny & The Squirrel (@bennyandthesquirrel) | TikTok

https://www.instagram.com/benny_and_the_squirrel/

Become a paid subscriber to get the show notes including a summary, today’s slides and the audio edition - as well as the rest of the 🐿️’s tireless work!

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]]><![CDATA[Live AMA with Benny & The Squirrel]]>https://www.blindsquirrelmacro.com/p/live-ama-with-benny-and-the-squirrelhttps://www.blindsquirrelmacro.com/p/live-ama-with-benny-and-the-squirrelFri, 31 Jul 2026 00:11:58 GMTThanks to everyone that joined us live on the various platforms - and for all the questions. Watch via the panel above or link to the YouTube recording below.

Blind Squirrel Macro is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

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If you act on anything provided in this newsletter, you agree to the terms in this disclaimer. Everything in this newsletter is for educational and entertainment purposes only and NOT investment advice. Nothing in this newsletter is an offer to sell or to buy any security. The author is not responsible for any financial loss you may incur by acting on any information provided in this newsletter. Before making any investment decisions, talk to a financial advisor.

]]><![CDATA[The Death Shot!]]>https://www.blindsquirrelmacro.com/p/the-death-shothttps://www.blindsquirrelmacro.com/p/the-death-shotSun, 26 Jul 2026 23:36:54 GMT

Episode 72 was recorded at 6.30pm EST on Saturday 26th July, 2026. Don’t miss this week’s LIVE ‘Ask us Anything’ on Thursday evening at 6.30pm EST.

The show has expanded on the socials! Follow us on Instagram and / or TikTok (if you do that kind of thing!)

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]]><![CDATA[Yen Bulls Anonymous]]>https://www.blindsquirrelmacro.com/p/yen-bulls-anonymoushttps://www.blindsquirrelmacro.com/p/yen-bulls-anonymousThu, 23 Jul 2026 22:02:10 GMT

Benny () & The Squirrel were joined once again by great friend of the show , author of The MacroTourist newsletter.

The show was recorded at 6pm EST on Wednesday 22nd July - just after Google released their earnings - very timely, given the fact that Kev has been doing a great job recently unpicking the S&P ‘earnings bubble’ (hint: most of it is mark-ups on unrealized gains on AI investments). Benny was inspired to use Gemini to make a meme 👇

Benny & The Squirrel will be back on Sunday evening for our regular ‘Start the Week’ show.

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]]><![CDATA[The UK Edition]]>https://www.blindsquirrelmacro.com/p/the-uk-editionhttps://www.blindsquirrelmacro.com/p/the-uk-editionSun, 19 Jul 2026 21:00:42 GMT

Episode 70 was recorded at 8pm EST on Saturday 18th July, 2026. Don’t miss this week’s guest show on Thursday. has been writing on some really interesting topics lately and he rejoin the show to take us through them.

The show has expanded on the socials! Follow us on Instagram and / or TikTok (if you do that kind of thing!)

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]]><![CDATA[Be Aggressively Defensive!]]>https://www.blindsquirrelmacro.com/p/be-aggressively-defensivehttps://www.blindsquirrelmacro.com/p/be-aggressively-defensiveFri, 17 Jul 2026 00:50:39 GMT

Benny () & The Squirrel were joined once again by David Dredge, Founder and CIO of Singapore-based Convex Strategies.

The show was aired live at 6pm EST on Thursday 16th July.

David has had a front row seat for pretty much every complex economic and market event going back to the October ’87 crash, actively managing risk and risk businesses for Bank of America, Bankers Trust, ABN Amro /RBS before moving to the buyside with Artradis, Fortress, City Financial and now Convex Strategies. Dave’s excellent monthly essays can be found at Updates – Convex Strategies.

Benny & The Squirrel will be back on Sunday evening for our regular ‘Start the Week’ show.

Become a paid subscriber to get full show notes, the slide deck, the audio edition and the rest of the 🐿️’s work!

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