Hidden Forces

In Episode 450 of Hidden Forces, Demetri Kofinas speaks with Lawrence McDonald, the founder of The Bear Traps Report and the author of a recently published book about the risks and investment opportunities present in today's radically reshaped economy titled "How to Listen When Markets Speak." In today's conversation, Demetri and Lawrence discuss how social media and the gamification of investing have amplified behavioral biases and fueled the AI boom, as well as the growth of crypto and other "tertiary" assets. They then zoom out to examine how the macro environment has changed since the Covid 19 pandemic, and how the government's response to both the GFC and covid crisis have sent investors scrambling for new frameworks to help them understand government's role in the economy and how to position themselves and their client's portfolios for a radically new world—one that you will not learn about in financial text books or most macroeconomics courses. Kofinas and McDonald also explore the "dark side of passi