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Passing the Torch Newsletter
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Built by students.
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Passing the Torch is a finance and economics newsletter bringing institutional-quality macro research to a generation of emerging professionals — and the established ones who take them seriously.

We cover monetary policy, prediction markets, K-shaped recovery dynamics, media consolidation, private credit, and the macro forces reshaping capital allocation. No noise. No filler. Sharp, original analysis, 72 issues a year.

Passing the Torch Media is the parent company behind the newsletter, the podcast, and future research products built for the next generation of capital.

The founders
Jasper
Jasper Gould
Co-Founder & Editor

High school junior at Berkeley Carroll, founder of BYCIG, and a serious student of macro, credit markets, and monetary policy. Committed to launching an investment fund post-graduation.

Emile
Emile Chilingirian
Co-Founder & Editor

Co-architect of PTT’s editorial direction and audience strategy. Together, Emile and Jasper built Passing the Torch into one of the most widely-read student finance publications in the world.

From the Archive
Feb 2026
Polymarket and Kalshi Have Changed Information Forever
and why they may be able to 7x–10x over the next half-decade
Markets & Data
Markets
Mar 2026
The Shame Premium
Why the market’s worst companies are some of its best investments
Equities & ESG
Equities
Mar 2026
David Ellison Is Creating Gen Z Inc.
Why the Ellisons are building a generational media empire — and Gen Z is the target market
Media & Capital
Media
Feb 2026
We Should All Calm Down About Private Credit
Blue Owl spooked the market. The data says otherwise.
Credit Markets
Credit
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