In this podcast, Tony Greer and Jared Dillian are joined by Larry McDonald to break down the growing stress in private credit, why insurance companies may be the hidden bag holders, and how credit markets could signal the next major macro shift. They discuss AI-driven CapEx, disruption across software and credit markets, and the potential rotation from Big Tech into natural resources and energy.
The conversation also dives into emerging-market volatility, the outlook for oil amid geopolitical tensions, data-center energy demand, and why Bitcoin may be starting to look more attractive relative to gold.
Larry shares stories from his Lehman days with Jared, the journey behind his book How to Listen When Markets Speak, and a classic Wall Street origin story that begins with selling pork chops to land his first job in finance.
