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This podcast is a smart and entertaining peek into the world of investment banking, sales & trading, private equity, hedge funds and more. Hosted by two lifelong friends with a passion for teaching, and over two decades of experience on Wall Street. Discover the basics, ranging from “what is investment banking?” to “what moves markets?". Learn about different roles and exit opportunities, and get tips on how to land the job. Our mission is to make the world of Wall Street accessible to everyone, while keeping things relatable and fun.
Whether your goal is to work on Wall Street, or if you have NO idea what any of those things are and just want to learn some basics, this podcast is for you.
130 Episodes
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Send us a textIn this episode of "The Skinny On..." we unpack the history and details behind the recently announced acquisition of Shutterstock by Getty. This is a great case study for anyone wanting to understand which synergies investors prioritize in a merger as we walk through the ownership structure & market implications.We then shift gears to talk about the 100 basis point selloff we've seen in 10 year notes since the fall, half of which has occurred over the past thirty days. Will ...
Send us a textIn this episode of 'The Wall Street Skinny,' Jen and Kristen dive deep into the finance-heavy intricacies of HBO Max's hit show 'Industry,' Season 1, Episode 7, aptly titled 'Pre Crisis Activity.' They discuss the ramifications of the 2008 Global Financial Crisis on Wall Street culture, touching upon terms like 'pre-crisis activity' and austerity measures implemented to curb excess and risk-taking. They also break down concepts like sales credits, account consolidation, and...
Send us a textIn this exciting New Year's episode, Jen and Kristen kick off 2025 with a fresh perspective on achieving career and personal goals. The hosts are joined by Valentina Savelyeva, a former investment banker and top life and career coach, to dive deep into practical strategies and mindset shifts essential for long-term success. Valentina shares her journey from Soviet Russia to Investment banking at JPMorgan to becoming a best-selling author and how setting aligned goals can transfo...
Send us a textWelcome to 2025!In this episode of "The Skinny On...", we catch up on all our holiday activities before diving right into current financial topics.Today we cover the Nordstrom take-private, the debate regarding H1-B visa cap removals and the potential impact on the tech industry, and Barclays firing bankers & traders without bonuses before Christmas.We also count down our favorite things from 2024 and predictions for 2025, before sharing our conversation with Neil Blundell f...
Send us a text2024 has been an incredible year, and we are so grateful for the support of all our listeners!!But what can we expect in 2025? Today, we shift our focus to the new year with special guest Marta Norton, Chief Investment Strategist at Empower. Marta shares her insights on the recent Federal Reserve meeting, market expectations, economic trends, potential recession indicators, and the impacts of AI on the tech sector. We discuss equity valuations, the increased interest in pri...
Send us a textIn this episode of The Wall Street Skinny, we delve into the world of angel investing. Joined by Matt Naylor and Max Valverde, co-founders of the Milkless podcast, the discussion explores the essentials of evaluating investment opportunities, the importance of liquidity preferences, and the risks and rewards associated with angel investing. Max, a seasoned investor and successful entrepreneur, shares his insightful experiences on what to look for in potential investments, ...
Send us a textIn this episode of "The Skinny on Wall Street", your hosts Kristen and Jen dive deep into the latest financial developments. They kick things off with a comprehensive analysis of the Federal Reserve's recent rate cut, discussing its immediate impact on the market, what quantitative tightening means in an easing cycle, and the surprising hawkish tone from Fed Chairman Jerome Powell. The discussion also touches on the implications of policy shifts and the potential for future rate...
Send us a textIn this episode, we dissect the various finance mechanics depicted in HBO Max's Industry Season 1, Episode 6 (Nutcracker). We explore the depiction of holiday parties on Wall Street and discuss why Eric's unconventional decision to give Harper her year-end bonus early not only doesn't make sense, but the numbers are crazy in light of the fact that it should be a stub. We also delve into the complex relationship dynamics at Pierpoint, from the pressures of client entertainment to...
Send us a textIn this episode we are joined by Enis Taner, a seasoned professional in the field with nearly two decades of experience. He breaks down everything we want to know about being an equities derivatives trader, from the day-to-day responsibilities of an options trader to the differences in work culture between major financial hubs like New York City and Houston. Enis provides a comprehensive look at the career paths available in equity sales and trading.The discussion also cov...
Send us a textOn this episode of 'The Wall Street Skinny' we delve into two failed acquisitions, starting first with the failed Mondelez-Hershey deal. We get into the structure of Hershey's voting shares, the history of Kraft and Cadbury's contentious acquisition, and the strategic implications of consolidating consumer goods giants. Learn about the rationale behind mergers, the hurdles they face, and the implications for shareholders and market dynamics.We also share our thoughts on the rece...
Send us a textIn this episode of the unofficial companion podcast for HBO Max's hit show 'Industry,' we dive deep into the financial intricacies of Season 1, Episode 5. Join Jen and Kristen as they break down the implications of an Italian Brexit and explore how jargon like 'Brexit' has evolved within financial circles. We also delve into the challenges and nuances of bonus structures, discussing the impacts of deferred compensation and stock-based bonuses on Wall Street professionals, with r...
Send us a textThis episode features Frank Van Buren, a former Blackhawk helicopter pilot and U.S. Army Chief Warrant Officer, who shares his journey from the military to a 26-year career in investment banking at Wells Fargo. Frank offers valuable insights on leveraging military experience in finance and provides advice for veterans and older individuals transitioning to investment banking. He emphasizes the importance of storytelling, aligning career choices with personal strengths, and getti...
Send us a textIn this episode of The Skinny On, we discuss MicroStrategy's recent issuance of $3nn of convertible debt as part of a plan to raise $42nn to buy Bitcoin, as well as the disastrous block trade Citi underwrote for Goodman Group. We start by talking about converts in general, diving into the difference between convertible debt, convertible preferred, and mandatory converts, including their pros and cons for investors and issuers.We then get into the terms of the MicroStrategy ...
Send us a textIn this episode, Kristen and Jen delve deep Season 1 episode 4 of HBO Max's Hit show, "Industry". They kick things off by breaking down the significance of the non-farm payrolls report and its sweeping impact on various market instruments like bonds, stocks, gold, and the dollar. They dissect Harper’s misbooked cable trade and explore the severe repercussions it has on both her career and the firm's PNL (Profit and Loss). From discussions on exchange rates, jobless claims, ...
Send us a textIn this episode of The Wall Street Skinny, we dive deeper into the world of private credit with our exceptional guest, Alona Gornick. Alona, a senior investment strategist and managing director at Churchill Asset Management, shares her invaluable insights on the evolving landscape of direct lending, the intricate structure of private credit deals, and why this asset class continues to grow in prominence. With a career background in investment banking (specifically the gamin...
Send us a textIn this episode we delve into episode three of HBO Max's hit show, 'Industry,'. We walk through Harper's cross-asset trade idea involving puts on the homebuilders index, calls on gold, and credit default swaps (CDS), and her interactions with bosses Daria and Eric and use it to discuss mentorship on Wall Street. We further use the show as an excuse to explain sales credits, trade executions, and correlation trades.We get into workplace politics and the often-blurred lines betwee...
Send us a textDoes what you wear to work on Wall Street matter? How much? Why? What exactly are you supposed to wear, anyway? Who makes those decisions? And how can you express your personal style in a way that elevates your career?In this inspiring conversation with former finance PR specialist-turned-fashion-founder Kerry O'Brien, the CEO of Commando, we learn how to navigate all of these questions in a fun, freeing way.Kerry gives us insight into her innovative, technology-forward app...
Send us a textNearly every thought leader we’ve spoken to in the finance industry has struggled with imposter syndrome at some point in their career. Not Michele Trogni. We had the fabulous opportunity to sit down with Michele at the CAIS Summit, where she explains how she learned early not to be encumbered by the expectations of others, to be emboldened by preparing for the unexpected, and to only pursue that which genuinely interested her. Michele started her career leading tech...
Send us a textSteve Kurz vaulted from early days at a worm poop startup (yes, that's a real thing) to the fast track of traditional finance, only to find himself with a front row seat to the Global Financial Crisis. Steve took the lessons he learned in traditional finance at legendary institutions like Lehman Brothers, Fortress, and River Birch and forged a new path along with his co-founder, Mike Novogratz, to found Galaxy: the Goldman Sachs of crypto.In today's episode, Steve explains...
Send us a textOur Investment Banking and Private Equity Foundations course is LIVE: Learn more HEREOr for our "Express Workout", our one hour top 5 technicals you must know for investment banking Masterclass, purchase for $49 HEREOur content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice.
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Great podcast, it was interesting to listen to. I think books about cryptocurrencies and trading are great, but they are not suitable for real trading, especially for beginners. That's why I use https://nonbank.io/. I like the fact that I can connect a hardware wallet to my unbanked account, which provides offline storage of private keys and protection from online threats.