The Master Investor Podcast with Wilfred Frost

Renowned financial journalist and author Andrew Ross Sorkin joins Wilf on this week's episode of The Master Investor Podcast to dissect the mechanics, characters, and lessons of history’s most infamous market crash - 1929. Sorkin, the acclaimed CNBC anchor, creator of DealBook, and author of Too Big to Fail, reveals the eight-year odyssey behind his latest book, 1929: Inside the Greatest Crash in...

CNBC star and Wilf’s former co-anchor, Sara Eisen, joins the Master Investor Podcast to reflect on the state of the US economy and stock market, as well as her career and the incredible people she has met and interviewed, from Secretary Bessent to Fed Chair Jay Powell. From her front-row seat at CNBC, where she anchors “Squawk on the Street” and “Money Movers,” Sara offers an insider’s view on how...

Legendary investor Howard Marks, co-founder and co-chairman of Oaktree Capital Management, sits down with Wilf to discuss 35 years of his celebrated investment memos and the timeless lessons they contain from his 50+ year career. Marks reflects on his most influential writings - from “Bubble.com” (in January 2000) on the eve of the DotCom bust to “You Can’t Predict, You Can Prepare” (in November 2...

Dan Morehead pivoted his hedge fund - Pantera Capital - to a pure play crypto hedge fund before the rest in 2013 and has reaped the rewards since. He first bought Bitcoin when it was priced at $65 compared to the $115,000 price today. Dan talks in detail to Wilf about the extraordinary conviction he has in blockchain - "the most asymmetric trade of all time" - which has allowed him to maintain his...

Renowned historian Sir Niall Ferguson discusses the comparisons between two of America’s most controversial leaders - Richard Nixon and Donald Trump - with the help of Wilf's Dad's legendary Frost–Nixon interviews. They cover the boundaries of executive power, use of tariffs and other shock economic strategies, and the high-wire act of geopolitical brinkmanship with China and Russia. Ferguson reve...

Legendary financial historian Sir Niall Ferguson joins Wilfred Frost on The Master Investor Podcast for a wide-ranging discussion that uncovers the seismic shifts shaping today’s global economy. Ferguson explains why U.S. debt, surging interest payments, and new tariffs spell both warning and opportunity, and dissects the interplay between gold, Bitcoin, and the weakening dollar in a world primed...

What is the most undervalued virtue when it comes to investing? In this episode of The Master Investor Podcast, Wilfred Frost sits down with Freddie Lait, founder of Latitude Investment Management, who reflects on his path to £1.2bn AUM, and explains why patience is the investor’s most undervalued asset. He also reflects on how investing is as much emotional as it is logical and financial. Freddie...

Cathie Wood, Founder and CEO of Ark Invest, makes the case for why she believes Bitcoin will be the biggest cryptocurrency by far and explains the role of Stablecoins. She also shares her friendly disagreement with Fundstrat’s Tom Lee, explaining why she doesn’t think Ethereum will surpass Bitcoin, though she’s warming up to Ether and has recently been buying BitMine. Cathie also discusses what th...

Cathie Wood, Founder and CEO of Ark Invest, which manages $35bn in disruptive, technology-enabled innovation, joins Wilf to share her market views - why she’s hugely bullish on Tesla, bearish on Apple, warming up to Alphabet, and convinced that both Robotaxis and AI will be “winner-takes-most” markets. She also explains why she’s so optimistic on Robotics as a theme. Cathie reflects on the highs a...

Baroness Morrissey is one of Britain’s most successful investors, becoming CEO of Newton Investment Management at the age of 35, and more than doubling its size over 15 years. She was also Wilf’s first CEO – he started his career at Newton.  In this episode, Helena outlines how she’s managed to be so successful, reflecting on why the trade that made her career – buying UK Gilts in the late 90s bef...

Nick Clegg, former UK Deputy Prime Minister and President of Global Affairs at Meta, joins Wilfred Frost on The Master Investor Podcast to discuss politics, leadership, and the future of technology. In this wide-ranging conversation, Clegg explains why he believes Britain has 'fallen out of love with the future', the differences between US and UK attitudes to growth, why China might beat America i...

Former UK Prime Minister Liz Truss warns that Britain is heading for calamity, with government too big and unaccountable. In this in-depth conversation, she defends the tax-cutting agenda she championed in 2022, backs the Labour government’s trade deal with President Trump, and explains why she has no sympathy for Chancellor Rachel Reeves. Truss also shares why she doesn’t think Kemi Badenoch will...

Billionaire investor Jim Mellon, and co-founder of The Master Investor Podcast chats with Wilf about why he is surprised the US market has been so resilient in the face of multiple challenges, and why he continues to see much greater opportunity elsewhere. They discuss the risks of the US debt crisis, why Jim is cautious on the Mag7 tech giants, and where real opportunities lie in China, UK, silve...

Tom Lee remains a Bitcoin bull, confident it could one day hit $1M—but he’s even more bullish on Ethereum. In this episode, he explains why Bitcoin’s main appeal is as a store of value, while Ethereum is set to become the backbone of real-world applications. From tokenization outside the US to Wall Street building the infrastructure of the future on Ethereum, Tom breaks down why ETH could surpass...

Tom Lee, founder of Fundstrat Global Advisors, tells Wilf why he thinks the stock market is entering the start of a new 10-year bull run. Tom explains how demographics drive that conviction, while he thinks people are overly concerned about inflation, but that maintaining Federal Reserve independence is critical. He outlines why understanding the companies you invest in is more important than ever...

Liz Ann Sonders is Chief Market Strategist at Charles Schwab, which manages $11 trillion in client assets. On this week's show she breaks down the current market complacency to Wilf, and explains why investors should pay attention to what small stocks and under-the-surface factors are signaling beneath the S&P 500 and away from mega cap stocks like Nvidia. She also discusses why valuations are...

Larry McDonald, author of The Bear Traps Report newsletter, former Lehman trader, and NYT bestselling author of A Colossal Failure of Common Sense is one of the best connected men in markets globally. Drawing on lessons from legends like Charlie Munger, David Tepper, and David Einhorn — all featured in his new book How To Listen When Markets Speak — Larry explains his view that the 'serpent of inf...

This week, Wilf talks to Thomas Peterffy, the digital trading pioneer and founder of Interactive Brokers. With a personal fortune of over $75bn, Peterffy is one of the most successful entrepreneurs of all time. Arriving in the US from communist Hungary at 22 with no English, he embodies the American Dream. In this conversation, he defends capitalism and Donald Trump, reflects on building a $100bn...

This week, Wilf sits down with legendary investor and Bridgewater founder Ray Dalio to discuss the growing risks in global debt markets, the complacency he sees in bond pricing, and the warning signals beginning to flash. Dalio shares how he's positioning his own portfolio with gold and a small amount of Bitcoin, and why he believes the Magnificent 7 stocks are looking expensive. He also reflects...

This week Wilf sits down for a rare, extended conversation with Goldman Sachs Chairman and CEO David Solomon in London, who shares his leadership advice while reflecting on the strategy that has seen his bank outperform his rivals in the last few years. He shares stark warnings about London's fragile position in the global financial system, the importance of getting policy right on both sides of t...

Hightower Advisors' Chief Investment Strategist, Head of Investment Solutions and Equity Portfolio Manager Stephanie Link outlines why she has been constructive on the US market in recent years despite the considerable noise. She also discusses being brave and buying during the April pullback, her top stock picks (Uber, Palo Alto Networks, Vertiv, Boeing, Amazon, D.R. Horton and multiple banks), a...

Some bonus content from Wilf's conversation earlier this week with the Founder, Chairman, and Long Term Investment Strategist at GMO, Jeremy Grantham. This time Jeremy focuses on the biggest long term risks he sees for the market, and humanity, including toxicity, declining fertility and climate change.   The content of The Master Investor Podcast is for informational purposes only and does not co...

This week Wilf speaks to the man who has predicted some of the biggest stock market bubbles of the last 5 decades - Jeremy Grantham - who, on the day that Nvidia hits $4trn market cap, predicts we're nearing the top of another major bubble, likening Nvidia's success to the "guy selling the shovels at the peak of the gold rush". Striking a very bearish note on the US Magnificent 7, he discusses the...

This week Wilf speaks to Former US Treasury Secretary Jack Lew about President Trump's economic agenda, and reflects on how he helped President Clinton balance the budget in the 90s, in light of Trump's "One Big Beautiful Bill" making its way through Congress. Lew reflects on the growing size of the US deficit, the weakening US dollar, and gives his advice for leaders on how to build bridges with...

This week Wilf talks to Founder and Portfolio Manager of Niles Investment Management, Dan Niles, about his latest views on the market, and the career path that’s led to his position as the most respected tech investor in the world. Dan reveals that he is terrified by the US debt position and bearish on the market on any medium term outlook, albeit believing it will make new all time highs in the s...