Francois Trahan: You’re Getting Markets Wrong, And Here’s Why.

In this episode of The Blunt Dollar, I sit down with François Trahan, one of the most respected macro strategists on Wall Street.

François is a Hall of Fame-ranked Institutional Investor strategist, former head of macro research at Bernstein, BCA, and Wolfe Research, and founder of the Macro Research Institute, a program training investors to understand real-world macroeconomics.

But this isn’t just about big calls and big titles. This is a conversation about conviction, cycles, and the brutal honesty required to get markets right.

We dive into the moments that made (and nearly unmade) his career, and unpack the lessons behind both his best and worst calls. From the dot-com crash to the GFC, and the behavioral traps that trip up even the smartest investors.

We cover:
📉 Why macro is more relevant today than ever
📚 How history and psychology shaped his biggest insights
🧠 The power (and limits) of AI in understanding markets
📈 What macro can (and can’t) predict about the future
🤝 The surprising truth about how he got hired on Wall Street
🎯 Why so many strategists still get it wrong
🧪 The importance of applied thinking in a theory-heavy world
💡 And why “this time is different” usually isn’t

Whether you're a macro nerd, a strategist in training, or just want to understand what really drives the market under the surface, this episode is pure signal.

Oh, and if you haven't already... subscribe to The Blunt Dollar for more raw and honest finance conversations.

New episodes drop every other week! Available on Spotify, Apple Podcasts, and wherever you get your podcasts.

And last, but not least, don't forget to follow me on LinkedIn: https://www.linkedin.com/in/ignacio-ramirez-moreno-cfa/

Enjoy the episode!

Disclaimer: This podcast is for informational and educational purposes only. It does not constitute financial, investment, or legal advice. Listeners should consult a qualified financial professional before making any financial decisions.