Perimeter Desk
Perimeter Listening / Markets
Erik Townsend · Patrick Ceresna
Macro Voices combines a specialist guest interview with the hosts’ assessment of markets. Its recurring subjects include energy, currencies, central banks and the ways economic changes reach asset prices. The archive also supplies transcripts and, for many episodes, guest charts. The value is in hearing how experienced practitioners assemble an argument; competing forecasts and trade ideas still need to be evaluated on their own assumptions.
Listen for
The show
Interviews and market commentary · MacroVoices
The Desk’s listening note
Keep the accompanying charts nearby and separate each guest’s long-term thesis from the hosts’ immediate market observations.
Who it’s for
Experienced investors who want to compare macro frameworks, follow commodity markets and understand the assumptions behind professional managers’ views across different asset classes.
A useful place to start
Choose a guest discussing an asset class you already follow, read the episode outline first, and open the accompanying chart book before listening.
From connected public feeds
Loading collected reading…
The people behind the microphone
Macro Voices host and former hedge-fund manager
Erik Townsend launched Macro Voices in 2016 after a career in software entrepreneurship and global macro investing. He founded Fourth Turning Capital Management and operated its hedge fund until retiring from fund management in 2018. On the podcast, he interviews specialists about markets, energy and the economic forces behind investment decisions.
Host profile Official profileTrader, educator and Macro Voices co-host
Patrick Ceresna co-hosts Macro Voices and The Market Huddle and teaches trading through Big Picture Trading. His professional work combines market analysis, options strategies and portfolio risk management. The firm’s educational material emphasizes identifying opportunities, planning positions and managing downside risk, while his podcast appearances connect those trading mechanics with broader economic and market developments.
Host profile Official profileSources & further reading
Profile checked September 18, 2026. Editorial notes are Perimeter’s interpretation.