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 inflation is nowhere near dead', what that means for your portfolio construction, why passive investing could break the market and his fears for Meta’s share price. He also shares his top investing principles: avoid over-trading and wait patiently for moments of true capitulation. To sign up to Larry's daily newsletter - The Bear Traps Report - please email info@thebeartrapsreport.com The content of The Master Investor Podcast is for informational purposes only and does not constitute financial, investment, or other professional advice. Always seek independent financial advice before making investment decisions You can watch the full video on The Master Investor YouTube channel. And follow @WilfredFrost on X. This podcast is produced by Paradine Productions, The Master Investor Podcast Ltd in association with Bird Lime Media.