The Master Investor Podcast with Wilfred Frost

Rick Wurster, CEO of Charles Schwab – who have $12 TRILLION of client assets across 38 million accounts – joins Wilf to explain how the world’s biggest retail investment platform is trying to “democratise” every corner of finance, what has powered its long-term growth since Chuck Schwab founded the firm in 1971 and more importantly, what’s driving it today and shaping its future.   Rick reflects o...

Dan Morehead returns to The Master Investor Podcast for a timely update on why he still believes Bitcoin – and the broader digital asset space – remains “the most asymmetric trade” of his career, even after a 50% drawdown from the cycle peak in October 2025. The Pantera Capital founder and former Tiger Management and Goldman Sachs macro trader unpacks the current crypto cycle, and why this correct...

Former Goldman Sachs chairman and CEO Lloyd Blankfein joins Wilfred Frost in London for a candid conversation about risk, resilience and what it really takes to survive multiple crises at the very top of global finance. In this episode of The Master Investor Podcast, Lloyd reflects on his journey from the Brooklyn projects to running Wall Street’s most famous firm, why he was initially rejected by...

Wilf sits down with Tony Yoseloff, executive managing member and CIO of Davidson Kempner, to explore how one of the world’s most enduring alternative asset managers navigates today’s markets. Tony, who manages around 40 billion dollars across opportunistic credit and event-driven strategies, shares his macro framework for the current environment, comparing it to both the 1970s and the early 2000s,...

Scott Bessent, US Treasury Secretary and one of the most successful global macro investors of his generation, joins Wilfred Frost in the Cash Room at the Treasury for a rare, wide-ranging conversation that bridges markets, geopolitics and public service.​ In a gripping real-time interruption, Secretary Bessent is called to the Situation Room by President Trump in the middle of the interview, then...

Ruchir Sharma, Chair of Rockefeller International and Founder and CIO of Breakout Capital, joins The Master Investor Podcast for a sweeping tour of today’s markets, the fading of “American exceptionalism” and what he thinks investors are getting wrong about risk. After 25 years at Morgan Stanley, where he ran emerging markets and served as Chief Global Strategist, Sharma now splits his time betwee...

In this special bonus episode, author, journalist and Founder and CIO of Breakout Capital, Ruchir Sharma, explores and interprets the market reaction to the US-Israel war with Iran so far. Ruchir, who is also Chairman of Rockefeller International, and former Chief Investment Strategist at Morgan Stanley Investment Management, argues the market reaction is relatively calm and that most of the negat...

Greg Peters oversees $1.2 trillion of fixed income investment as the co-CIO of Fixed Income at PGIM, and in this episode of The Master Investor Podcast offers a bond investing masterclass from the basics to the factors driving his current positioning. Greg breaks down how he analyses long-term government debt – including debt sustainability, growth outlook, central bank independence and the rule o...

Aswath Damodaran, Professor of Finance at NYU Stern School of Business, joins Wilf to reveal that he is more cautious of the equity market today than at any point in his career. Because of this he has “more cash in my portfolio now than at any time in history”, and says this is a time to harvest profits gained in recent years as opposed to sowing more crops. He has recently sold his position in Nv...

Mason Morfit is the co-CEO and CIO of ValueAct Capital and in this incredibly rare extended interview he outlines the unique investment approach that defines ValueAct - “quiet” but highly engaged activism, using long-term partnerships with management teams to transform great but drifting companies like Microsoft in 2013 and Salesforce in 2022. Mason contrasts the short-term, transactional culture...

Cameron Dawson, Chief Investment Officer at NewEdge Wealth, joins Wilf to explore whether recent market rotation away from mega-cap growth marks the start of a new “tectonic shift” or just a counter-trend rally. She compares today’s market to the Nifty 50 era and the dot‑com bubble, and the warning signs those moments provide today, plus what it means for growth versus value over the next several...

Sonali Basak joins the Master Investor Podcast to discuss her transition from Bloomberg anchor to Chief Investment Strategist at iCapital, a key player in democratising access to private markets. The former lead Wall Street correspondent at Bloomberg Television and host of "Bullish," shares insights on iCapital's role in this new age of retail investing, explaining how technology is lowering minim...

Rene Haas is CEO of Arm Holdings, the British chip designer at the heart of the global AI race and the previous smartphone revolution. Haas explains to Wilf in plain English where Arm sits in the semiconductor value chain, why its CPU designs power virtually every tech device on the planet, and how its partnerships with giants like Nvidia, Apple, Microsoft and OpenAI are shaping the next decade of...

Helima Croft, one of Wall Street’s most influential energy strategists and Head of Global Commodity Strategy at RBC Capital Markets, unpacks the new geopolitics of energy in a world reshaped by wars in Ukraine and the Middle East, OPEC+ policy shifts, and the increasing but volatile drive toward decarbonisation.  Helima, who began her career as a CIA analyst, explains how energy is once again a to...

Tom Lee returns to The Master Investor Podcast to lay out his bullish – but bumpy – roadmap for markets in 2026. He is the co-founder and head of research at Fundstrat Global Advisors, chair of Ethereum treasury company Bitmine Immersion and CIO of Fundstrat Capital which runs the rapidly growing Granny Shots ETF suite (now $4.7bn AUM). In this episode Tom explains why he still thinks we are early...

As CEO of The World Gold Council, David Tait oversees the physical gold that backs one of the biggest gold ETFs in the world (GLD) – some $180bn of gold – and he brought along one 13kg bar to show Wilf during his appearance on this week’s episode of The Master Investor Podcast – worth a $1.8m. Sadly he asked for it back at the end. David outlines the six main drivers for gold’s recent surge – from...

To kick off 2026, Wilfred Frost is joined by billionaire investor and Chairman of The Burnbrae Group, Jim Mellon who shares his big investment calls for 2026. Jim reveals he is loading up on energy stocks; that he has reduced his gold and silver exposure by 80% following a phenomenal year in 2025; remains bearish the Magnificent 7 and AI stocks, but thinks Robotics is the way to play AI; and why h...

Legendary UK fund manager Nick Train joins Wilfred Frost on The Master Investor Podcast to discuss why, despite recent underperformance, he remains relentlessly optimistic on equities, on the opportunities the UK market presents, and on his own highly concentrated portfolio.​ Nick lays out his philosophy of patient, conviction-led investing, highlighting that his portfolios typically turn over les...

Dan Ives joins The Master Investor Podcast with Wilfred Frost for a high‑energy deep dive into the AI revolution, Big Tech’s next decade, and how to navigate the most powerful tech bull market of our lifetimes. From backing visionaries like Elon Musk, Satya Nadella and Jensen Huang early, to calling generational winners such as Apple, Tesla, Nvidia, Microsoft and Palantir, Ives explains why he bel...

Brian Moynihan, long‑serving Chairman and CEO of Bank of America and host Wilfred Frost sit down for a wide‑ranging conversation exploring what it takes to run one of the world’s most important financial institutions, the state of the US economy, and how is leadership lessons for finance and beyond. Moynihan explains how the “Bank of America” brand helps attract customers but also carries a deep r...

A special teaser episode with Bank Of America Chairman and CEO Brian Moynihan, who says he is absolutely committed to the UK regardless of the recent budget.  Moynihan tells Wilf that the recent budget was “ok” and “fine” for Bank Of America, which has roughly 6000 people in the UK, with an extra 1000 coming to Belfast, compared to 1k in the Republic of Ireland and 2k in Continental Europe. But he...

Gregory J. Fleming, President and CEO of Rockefeller Capital Management, tells Wilf what it takes to build a great wealth management business, how to navigate a crisis under pressure, current market outlook, and the importance of optimism in leadership. Fleming reflects on three decades at the top of Wall Street, from leading Merrill Lynch through its sale to Bank of America during the financial c...

Jason Pidcock, manager of the Jupiter Asian Income Fund, reflects with Wilf on his 35 years of investing in the continent and how he has built his strategy over the last 20 years to be one of the most successful Asian equity strategies managed from London. Jason explains how a concentrated portfolio of 25 large, cash-generative companies across Taiwan, Australia, Singapore, India and South Korea h...

Harvey Schwartz, CEO of Carlyle, reflects on his unconventional journey from a challenging upbringing and early career uncertainties, to the peak of global finance, including senior roles at Goldman Sachs. Schwartz, who oversees over $450 billion in assets at Carlyle, dives deep into how private markets have evolved, the factors driving their extraordinary growth, and his perspective on the future...

Mike Wilson, Chief U.S. Equity Strategist and Chief Investment Officer at Morgan Stanley, sits down with Wilf this week to outline his bullish view for US equities, and how inflation is the elixir for earnings growth, provided the Federal Reserve isn’t hiking rates. Both surprisingly and controversially he does NOT believe the Fed is independent, but thinks this is, in fact, GOOD for stocks. Wilso...