“I think waiting until January,” explains Real Vision macro analyst Michael Coolbaugh, “you're already behind the eight ball because institutions will start putting capital to work with whatever their views are.” In the third episode of our miniseries on preparing for the year ahead, we pull back the curtain on the kinds of conversations we have during in-house editorial meetings, as Mike and his fellow macro analyst James Helliwell discuss the potential scenarios that will drive institutional money in 2023 and appropriate portfolio responses we can begin to implement right now. Recorded on November 17, 2022.