The Real Story with Michelle Makori
Sep 9, 2026 · 1 hr 16 min · 18 segments
Michelle Makori, President & Editor-in-Chief of Miles Franklin Media, interviews Bob Klein, Founder and Chief Investment Officer of Medici Capital. Klein, who identified the dot-com and housing…
Michelle MakoriHostThis is The Real Story with Michelle McCorry.

Thank you so much for joining us here on The Real Story, where we go beyond the headlines, beneath the surface and behind the curtain to show you what is really happening with money, markets and power.

My guest today has a history of spotting bubbles well before they burst and having the conviction to bet against them.

Bob Klein warned about the dot-com bubble in a Barron's article published in November 1999, months before tech stocks began to collapse.

He later bet against the housing bubble that ultimately triggered the 2008 global financial crisis.

He was early, endured significant losses as the bubble continued to inflate, but held his ground and ultimately profited as the housing market collapsed.

And that call was recently highlighted by Michael Lewis, author of the big short that is of course the best-selling book that chronicled the housing bubble the financial crisis and the investors who saw that collapse coming so where does bob think we are now is another bubble forming in ai how much longer can this market boom continue and where does he see the biggest opportunities Bob is also the founder and chief investment officer of Medici Capital, which manages around $200 million.

He has more than 40 years of professional experience in financial markets and spent 24 years with Bear Stearns and J.P. Morgan, including 16 years as a portfolio manager in J.P. Morgan's wealth management division.

Bob is also a CFA chart holder and a lifelong student of monetary history with a very impressive and extensive collection of coins and paper money tracing the evolution of money across more than 2,500 years.

All right, Bob, I promise I will circle back to that very colorful history, including the incident with Michael Lewis and the Big Short and what happened inside Bear Stearns.

And when you look across the economy and the financial markets today, what's your outlook? Where are we in the very big macro picture?
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