Dear Visionary,

As you know, I’ve been growing increasingly concerned about what’s happening in the markets not just in the US, but across the world.

Weak data in Asia… tensions ratcheting up in Hong Kong… the Fed’s cutting error in the US… an igniting dollar… a potential restructuring of the entire banking structure in Europe…

All of these extraordinary happenings are cooking in a way that could destroy investors’ portfolios worldwide.

I am honestly not trying to be sensationalist when I say that I am the most concerned I have been since the Eurozone crisis and the financial crisis.

I’ve never seen anything quite like this and that’s why I took over the Real Vision platform for two weeks during Recession Watch.

But… Recession Watch wasn’t enough for many of you. We’ve had requests for, well… more.

  • More actionable guidance on how to preserve your capital
  • More ideas on how to make money in this environment
  • More hands-on help from people with skin in the game 

I get it. The paralysis many investors are feeling here is because it is both a very serious, risky situation and a situation that presents wonderful opportunities.

So yeah, I get why it can be tough to decide which way to proceed…

Successfully navigating environments like this is what I learned during my career advising many of the Investment Greats, and also from running a large global macro fund myself. I’ve been in this game for 29 years now and have the scars to prove it.

And here’s one thing I am sure of in this unsure environment—being ahead of the crowd, taking the opposite opinion to what you think the market is thinking is where you make the real money.

And to legitimately do it, you need to have a deep understanding of what is going on in real-time in every corner of the world and you need to understand the ramifications and knock-on effects.

That takes an awful lot of time. Macro is an ever-changing puzzle of probabilities, and the work required is a full-time job.

That’s where I step in. And that’s where Julian Brigden steps in, too. Julian also has 30 years of experience investing in markets just like this. This is his favourite market environment, and mine too.

We thrive on creating simplicity out of complexity, by distilling all the massive amounts of rapidly shifting information down to the one opportunity or the one risk. This takes a lot of experience… and a lot of painful learnings.

We want you to benefit from both our experience and our painful learnings (while hopefully avoiding too many painful lessons of your own).

That’s why with our premium service, Macro Insiders, our job is to be your personal macro advisors. 

Before I go on any further, please take a look at the video below, where I explain exactly how we can help right now, and in the months and years ahead…


If you miss the big macro waves that are coming, it doesn’t matter how well your individual stocks are doing – you could get wiped out.


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In Focus

Dig into actionable trade ideas and analysis

Twice a month, you’ll get an In Focus report written by either me or Julian. The point of In Focus is to share new, actionable trade ideas with you.

Deep Dive

The highlights of our institutional research, tailored for you

Once a month, you’ll get Deep Dive, a report written by Julian or me, which brings together extracts and highlights from our institutional research (worth $80,000 a year). It’s where we discuss our bigger structural views, and distil them into analysis that is actionable for the individual investor. 

Insider Talks

A high-octane monthly video discussion between Julian and I

Once a month you’ll get Insider Talks, where Julian and I sit down to discuss the biggest investment opportunities and share our new ideas. It’s real, it’s no-holds-barred, and it can get a bit heated…

These are action-focused, in-depth written research reports. Recent reports (which you get instant access to when you join) include:

  • Destructive and Unproductive: Julian’s 21-page report on the investment implications of negative rates.

  • A Hell of a Year: My 18-page report laying out exactly why we are in the midst of potentially one of the worst slowdowns in modern history.

  • Knowing When to Wait: A 12-pager from me on one of the most important investing lessons you can learn – knowing when you don’t know enough to take intelligent risks.

  • Plenty More... When you join Macro Insiders, you get full access to all past In Focus reports (30 and counting).

Deep Dive is a true macro monster. Recent topics we discussed include:

  • Why NIRP is the new normal… and how that’s pushing us toward a cashless society.

  • My massive 74-page play-by-play on how the Doom Loop will play out.

  • The market implications for the increasing headwinds facing corporate America.

  • And more… 24 Deep Dive issues are waiting for you, with the latest just published on January 27th.

Usually between 20-40 minutes long, recent Insider Talks topics have included: 

  • Where the greatest opportunities lie as global rates converge towards zero.

  • The dislocations flaring up in financial markets worldwide.

  • What trades are likely to work against this softening global economic backdrop.

  • How to survive violent market swings.

  • And more (28 episodes and counting).

Three written reports and one video discussion per month  – this is your entry to the macro big leagues. If that makes it sound like a big deal, well, that’s because it is. But it doesn’t have to be a big decision…

Sign up for Macro Insiders today and make better investment decisions.

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We nailed the dollar rally in 2018.

We nailed the sell off in emerging markets.

We nailed the sell off in FAANGS.

We nailed the auto's sector weakness.

We nailed the bitcoin sell off.

We nailed the bond market rally in late 2018.

We nailed the sell off in equities are the end of 2018.

We got a lot of things right.

I think Paul C called it right when he described Macro Insiders as “a macro mentoring program.” That’s what we’re doing here.

It’s the analysis we share with our institutional clients… custom-fit to suit your needs. Now, my Global Macro Investor service costs $40,000 a year, for example. And Julian’s MI2 service also costs $40,000 a year. So you might be wondering how much Macro Insiders membership costs.



The thing about Macro Insiders, and why our subscribers love it, is that Julian and I both pull together from our 30 years each of experience, using our different perspectives to help investors make money. We truly care about helping people.

Macro Insiders is specifically for individuals (and smaller firms) and pushes the boundaries in creating institutional quality product at an affordable price. We are giving the same views that we give our famous clients but in a way that helps individual investors.

Nothing else exists like Macro Insiders. It is authentic, it is real and it is not based on hype. There is no “get rich quick” sign hanging over the door. It is just Julian and I, giving our blood, sweat and tears and all the knowledge we can muster and making it available to help you make better investment decisions.

We are on a mission to help others navigate these times. And we add the most value in a market environment like the one we’re in right now. Everyone can look like a genius in a low volatility bull market, but when volatility rises, risks rise… as do opportunities.

I firmly believe macro will be the most important (and most potentially profitable) investment methodology for the next few years. This is the environment we are in. And I also firmly believe that having a strong handle on macro is one of the key ways you can become a better investor.

I would be truly honoured if you were to join us on this journey.


Raoul Pal

Don't miss out on the opportunity to ride the big macro waves that are coming. Take advantage of this Macro Insiders limited-time discount offer now.

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Our mission with Macro Insiders is to crush the current system which restricts access to premium macro analysis to all but the biggest and wealthiest investors.

And our goal for you is that Macro Insiders helps you make better investment decisions and become a sharper, more well-rounded investor… with analysis that simply would never have been available to you just a few years ago.

Build Wealth from Investing with Our Premium Macro Analysis… At a Fraction of the Cost

I’ve explained Macro Insiders’ mission, but now let’s look at how exactly it will help you become a better investor.

Flash Updates

When the situation calls for instant input

Flash Updates are quick-shot reports from myself or Julian. They’re published as they are needed. Here’s where we are now, to quote Julian: “I have felt it necessary to put out two Flash Updates in August alone. Scratch the hope of lazy summer days.”

The Macro Insiders Portfolio

The Macro Insiders portfolio is made up of trade recommendations proposed by Julian and I in our In Focus pieces. On the last business day of each month, we update the performance – making it easier for you to track the success (or failure!) of our trades.

Recent updates have included:

  • An ETF investors can use to play the increasing vulnerability of US banks.

  • Tactical trades for when Trump once more hijacked the agenda.

  • Post-FOMC meeting currency plays and an often overlooked metal trade.

There are currently 16 open positions and a further 15 closed positions from 2019, so there’s plenty of ideas for you to choose from.

At least three written reports, one portfolio update, and one video report per month – this is your entry to the macro big leagues. If that makes it sound like a big deal, well, that’s because it is. But it doesn’t have to be a big decision…

As Investments Go, This is Low Risk - We Already Have A Proven Track Record

But if you’re not sure, have a quick look at what our Macro Insiders subscribers think:

And some comments we got on individual Macro Insiders recommendations…

In a word, no. Macro analysis has always been hugely expensive because it requires the best brains and the most time to prepare. You’ve got to monitor hundreds of markets and thousands of charts. Then you must think deeply to interpret the data correctly and see how it all fits together.

That kind of depth (and breadth) is why investors happily pay between $15,000 and $40,000 a year for this type of research. Because the results are worth far more to them than that.

But you won’t pay $80,000 a year for Macro Insiders. After all, we created Macro Insiders to make macro research more affordable for individual investors. To remove the tight grip hedge funds and other institutional investors have on it.

So rather than charge $80,000 (or anything close to it), we thought we’d remove a zero from that and then cut it in half.

Since its inception, one full year of Macro Insiders has cost $4,000, and it’s worth that 20 times over. Just ask Macro Insiders subscriber Abhimanyu G., who says:

Wait a Second - Is It Going To Cost Me $80,000 To Join? 

“At this rate, the day when Julian and Raoul throw in the towel we would have seen the peak. For those who haven't yet, I would strongly recommend checking out Macro Insiders!”

But Times Have Changed….

So yes, it's more than worth the $4,000 cost.

Basically, the whole point of Macro Insiders is that it’s us working for you, and it’s meant to work for you.

So giving you plenty of membership options – though probably not recommended in any Marketing 101 books – is a no-brainer.

$2,799 yearly


This research is top drawer and has literally changed my life. I am currently up enough to pay off my house through Eurodollars and own bonds all over the world...

Jonathon H.

Excellent piece... you can hear the excitement around things starting to take shape. Absolutely loved the statement from Julian - 'Just sell some f***ing stocks'... love it. Really good format.

Max B.

I just wanted to express my gratitude to you for the different perspective on our changing world you have given a small time investor like me. I feel grounded and more confident that the steps I am taking are likely in line with the coming changes.

Micheal A.

Paul T.

Raoul created access to information that didn't exist outside the hedge funds and banks. Understanding and being aware of economic events going on around us can literally change someone's life.

Dude! I read this piece this morning just as the market was about to open. Did my own validation of your recommendation, then bought some GOOG puts with the mark at $1004. It was a good day. Next time you are in Orange County, drinks on me!

Myron W.

This type of presentation in precisely why I subscribe: The set-up is presented, the anticipated potential outcomes explained, and when the trigger is pulled, either way, you know why it has been pulled.

Alan S.

Excellent call Julian, I've never seen an MI trade move so quickly and with such conviction. Big thumbs up.

Daniel B.

And our Macro Insiders subscribers benefited accordingly.

Of course, we didn’t get everything right. We got whipsawed in the dollar and bonds once, before the trade worked. We lost money in Uranium (it just never went anywhere), after a promising start. We got a few equity market shorts pretty wrong (February was definitely too early to sell the S&P 500) and some right.

But no one pays us to be right 100% of the time. Anyone who claims they are that good is a charlatan.

We claim to be much more right than wrong, over time.

I’m sure you’ll agree that our track record shows that’s a modest claim.

Without trying to sound sensationalist, we’ve done pretty well since launching Macro Insiders…

I have never seen anything quite like what’s playing out right now. We are in the unknown.

And that means that we at Real Vision have a moral obligation to make Macro Insiders as accessible as possible for individual investors. After all, it’s where this whole wild Real Vision journey started…

So here's the deal...

We’re cutting the cost of joining Macro Insiders to $2,799 until March 8th, giving you a 30% discount off the price it’s been since we started it…