The Master Investor Podcast with Wilfred Frost

Jim Bianco, President and Macro Strategist at Bianco Research, sits down with Wilf for an in-depth look at global bond markets, central bank policy, and what it means for equities and your portfolio construction.  After maintaining a bearish stance on bonds since 2020, Bianco reveals why he has finally stepped back from that call and now sees value in the bond market. With US yields crossing 5% an...

In this rare extended interview, Wilf sits down with the famed market contrarian and man who coined the phrase "Magnificent Seven", Bank of America’s Chief Investment Strategist Michael Hartnett. Hartnett unpacks the structural forces reshaping markets this decade, from ballooning fiscal spending and nominal growth, to the massive rotation away from sovereign debt. He explains why the AI trade now...

What happens if the invisible system feeding and fuelling our planet suddenly breaks down? In this episode of The Master Investor Podcast, Wilfred Frost sits down with Ed Conway, Economics & Data Editor at Sky News and bestselling author of Material World and Trade World. Drawing on Ed’s latest book, Trade World, they explore the enormous importance - and growing fragility - of global trade, a...

Thomas Peterffy is worth well over $100bn, making him one of the 20 wealthiest people in the world. He is a markets titan and the founder of Interactive Brokers, and joins Wilf on this week’s episode of The Master Investor Podcast. He breaks down how Interactive Brokers has grown both earnings and its share price by around 40% per year over the past five years, driven by its focus on building the...

This week on The Master Investor Podcast, Wilfred Frost sits down with one of the world’s foremost commodities experts, Jeff Currie. After nearly three decades building and leading commodities research at Goldman Sachs, Currie shares an unvarnished masterclass on why we are only in the "second or third inning of nine" of a generational commodity supercycle that will see hard assets crush tech and...

This week on The Master Investor Podcast, Wilfred Frost sits down with Liz Ann Sonders, Chief Investment Strategist at Charles Schwab, which oversees $13.4 trillion in client assets. Liz Ann begins with the surge in global bond yields and the growing tension between Treasury Secretary Scott Bessent and the Federal Reserve. She argues that rising yields don't necessarily spell trouble for equities...

Wilfred Frost sits down with macro strategist Luke Gromen, founder of independent macro research firm Forest For The Trees (FFTT), for a wide-ranging conversation on the growing fragility of Western sovereign bond markets, the economic fallout from the Iran war, and why he believes gold is quietly replacing US Treasuries as the world's reserve asset. Luke argues that markets continue to underestim...

Wilfred Frost welcomes back legendary investor Jim Mellon for his fourth, and typically candid and outspoken, appearance on the podcast. Jim discusses investor fatigue with US mega-cap technology companies, noting the Magnificent 7’s 30% average drop since their June highs. He also highlights the recent struggles of SpaceX, characterising it as the "biggest short of all time", and a sign of a majo...

In this episode of The Master Investor Podcast, Wilfred Frost sits down with the undisputed heavyweight champion of global finance: Jamie Dimon, Chairman and CEO of JPMorgan Chase. Leading the world’s largest bank through 20 years of global economic crises, Dimon brings unprecedented, unfiltered insights into the true state of the macroeconomy. From inflation and government debt to AI, geopolitics...

How do you separate genuine innovation from pure hype? That is perhaps THE question of the moment for investors when it comes to AI, and it is also the question Kara Swisher has thought about for her entire career as the premier tech journalist of our time. She is co-founder of Recode and the host of powerhouse podcasts like Pivot and On with Kara Swisher, and she brings her trademark candor – and...

Robinhood didn't just survive one of the sharpest reversals in fintech, it emerged bigger, stronger and more ambitious than ever. After its market value collapsed by 80% to around $6 billion in 2022, the fintech pioneer has rebounded to nearly $100 billion, cementing its place at the centre of the next generation of finance. In this episode of The Master Investor Podcast, host Wilfred Frost sits d...

Wall Street veteran, SkyBridge Capital founder, broadcaster, author and former White House Communications Director Anthony Scaramucci, aka “the Mooch” sits down with Wilf for a candid conversation about the painful market lessons that shaped his 38-year career, his bold transition into the digital frontier, and the importance of focusing on the long term. From the $14m he lost out on listening to...

Wilf is joined by Ned Naylor-Leyland, newly crowned Investment Week Precious Metals Fund Manager of the Year and manager of the nearly $3 billion Jupiter Gold & Silver Fund. Known for his characteristically contrarian, deeply analytical perspective, Ned breaks down why the true narrative surrounding gold and silver is heavily misunderstood by the investing public.  Instead of viewing gold and...

Powerhouse of business journalism and co-anchor of CNBC’s Squawk Box, Becky Quick, joins Wilf straight from live morning TV to break down a massive, fast-moving moment in the markets and share rare, deeply personal insights into both her career and family life. Over 20+ years Becky, who is Wilf’s former colleague and great friend, has become well known for her access to, and interviews with, legen...

In this special episode of The Master Investor Podcast we explore the upcoming IPO of SpaceX - the largest IPO of all time, set to begin trading on Friday 12 June, raising $75bn in fresh capital, valuing the firm at close to $1.8trn.   Wilf is joined by CNBC’s Morgan Brennan to set up the details with a breakdown of SpaceX’s business model, all of the key numbers, and how we got to this point.   ...

What happens the day after ChatGPT launches? If you’re Dominic Rizzo, you take over the helm of the $8.7bn T. Rowe Price Global Technology Fund and embark on an incredible run, delivering an outstanding 43.6% per annum return.  In this episode of The Master Investor Podcast, host Wilfred Frost sits down with Dom Rizzo to dissect the massive shifts reshaping the technology sector. Dom explains why...

What separates a temporary market pullback from a systemic, catastrophic collapse? And how do the world’s greatest financial institutions build the resilience required to survive the absolute "end of times"? In this episode of The Master Investor Podcast, Wilfred Frost sits down with Tom Michaud, the CEO of banking and finance specialists Keefe, Bruyette & Woods (KBW). Tom has spent over 40 ye...

Are we in an AI bubble, or are capital markets correctly funding the largest infrastructure build-out in human history? In this episode of The Master Investor Podcast, Wilfred Frost sits down with Jan van Eck, CEO and owner of global asset management giant VanEck. Managing over $225 billion in assets, Jan has spent his career looking past daily market noise to focus on what he calls "10-year macro...

Lori Calvasina – Head of US Equity Strategy at RBC Capital Markets – has one of the highest SP500 forecasts on Wall St at 7900. In this episode of The Master Investor Podcast we explore why that is, and do a deep dive into the five key factors she considers when weighing up what her price target for the market should be. This is a rare window into the modelling strategy of one of Wall Street's mos...

Legendary tech investor Dan Niles cautions investors to consider raising their cash ratings in this week’s episode of The Master Investor Podcast, just six weeks after he correctly called for a more aggressive risk-on approach at the end of March While he still thinks today is more like 1997/98 than 2000 and that the shift from chat-based AI to Agentic AI will sustain major earnings upgrades for t...

Wilfred Frost is joined by Louis Gave, the founding partner and CEO of Gavekal, one of the world’s leading independent research firms. With a focus on the shifting geopolitical landscape, Gave outlines why traditional investment assumptions – from the safety of US Treasuries to the dominance of US tech & defence stocks – are being fundamentally upended, and why China is screamingly cheap. The...

Stephanie Link, Chief Investment Officer and Portfolio Manager at Hightower Advisors, returns to The Master Investor Podcast to offer a constructive, theme-driven, bullish case for US equities. She explains why she has repeatedly “bought the dip” at moments of crisis – from the Silicon Valley Bank collapse and April 2025 ‘Liberation Day’ lows through to the recent March 2026 Iran war sell-off – ar...

Jeremy Grantham is one of the greatest investors of all time, and is famous for correctly identifying the four major stock market bubbles of his 60 year investment career. He joins Wilf to discuss the key ideas of his new book The Making of a Perma Bear: The Perils of Long-Term Investing in a Short-Term World and what they mean for investors today. Jeremy and Wilf explore the factors that drove hi...

Wilfred Frost welcomes back Larry McDonald, founder of The Bear Traps Report and bestselling author of “A Colossal Failure of Common Sense” (2009) and “How to Listen When Markets Speak” (2024), for a timely, in-person conversation in London.  Larry thinks the SP500 is “a screaming sell” and would use the post Iran War ceasefire announcement as an opportunity to sell the index, especially Mag7 tech...

In this episode of The Master Investor Podcast, Wilfred Frost sits down with Peter Boockvar, CIO of OnePoint BFG Wealth Partners and editor of The Boock Report, to dissect what the Iran War means for markets - highlighting the stocks and commodities poised to benefit, and the rallies investors should be cautious of. Peter shares his view thesis on why inflation was proving far more persistent than...