# Pinetree Macro Pinetree Macro a Global Macro fund that focuses on liquidity way of Investing Page: Feed: --- ## [Manufacturing in India: The Tide Is Turning](https://pinetreemacroresearch.substack.com/p/manufacturing-in-india-the-tide-is) _2026-08-06 · Ritesh Jain_ Our Calls, Currency, Trade access, and Manufacturing ## [The AI Capex Bubble: Bigger Than You Think, Funded by You Don’t Know Who](https://pinetreemacroresearch.substack.com/p/the-ai-capex-bubble-bigger-than-you) _2026-07-28 · Ritesh Jain_ How the AI buildout is being financed, and why it matters more than whether the technology works ## [Chapter Seven – The Three Suns](https://pinetreemacroresearch.substack.com/p/chapter-seven-the-three-suns) _2026-07-23 · Ritesh Jain_ The rupee stopped falling, but it was bought time, not victory. Chapter Seven follows what India does with three years: Three suns. Each one lit by something India does not yet own. ## [Welcome to the Canopy](https://pinetreemacroresearch.substack.com/p/welcome-to-the-canopy) _2026-07-21 · Ritesh Jain_ Seeing the Whole Forest | Pinetree Macro Canopy July 2026 ## [Chapter Six – The Pharmacy of the World](https://pinetreemacroresearch.substack.com/p/chapter-six-the-pharmacy-of-the-world) _2026-06-30 · Ritesh Jain_ Pressure had flowed toward India: jets, currency, sea lanes, cloud. Now Delhi discovers it holds a switch of its own, in the one system the West cannot easily replace: the medicines on its own shelves ## [The Four Walls Are Cracking: A Case for AI](https://pinetreemacroresearch.substack.com/p/the-four-walls-are-cracking-a-case) _2026-06-08 · Ritesh Jain_ On scaling laws, cognitive decay, model collapse, and our assessment about AI and its relationship with human critical thinking. ## [The Heir Apparent Doesn't Want the Factory](https://pinetreemacroresearch.substack.com/p/the-heir-apparent-doesnt-want-the) _2026-05-25 · Ritesh Jain_ Why the Next Generation Is Right to Choose Capital Over Commerce ## [The Strait of Hormuz Is the Only Question That Matters Right Now](https://pinetreemacroresearch.substack.com/p/the-strait-of-hormuz-is-the-only) _2026-04-04 · Ritesh Jain_ A macro framework for navigating a world in transition where the outcome of one chokepoint determines the fate of every asset class. ## [Global Macro Dashboard Mar-26](https://pinetreemacroresearch.substack.com/p/global-macro-dashboard-mar-26) _2026-04-02 · Ritesh Jain_ The impact of the Iran war is now surfacing globally, with key macro indicators starting to reflect the stress ## [Non-custodial Crypto Payments & Escrow (Sponsored)](https://crawlproof.com/a/VPWUsl745xRx) _2026-04-02 · **Sponsored**_ Accept multi-chain crypto with trustless escrow, instant confirmations, and no KYC ## [Nothing Stops This Train](https://pinetreemacroresearch.substack.com/p/nothing-stops-this-train) _2026-03-17 · Ritesh Jain_ And We’ve Been Riding It for Years