The Wall Street Skinny

This week, the hosts dive into Trump's bold suggestion to shift public companies from quarterly to semi-annual earnings, balancing efficiency with transparency. They explore proposed changes to H-1B visa fees that could reshape hiring in various sectors, discussing potential impacts on startups and salary dynamics. Finally, the debate heats up over whether to move away from the Fed funds rate in favor of more empirical measures like SOFR, offering insights into monetary policy and financial market dynamics.

Matt Hornbach, Global Head of Macro Strategy at Morgan Stanley, shares insights on the recent FOMC rate cut and its market implications. He explains the Fed’s third mandate and why lower long-term treasuries might not bolster the economy. Matt discusses his favored yield-curve steepener and predicts further dollar depreciation. He also sheds light on the essential skills for aspiring strategists, such as Python, and the career paths within fixed income strategy that one can pursue.

Send us a textThis week on The Wall Street Skinny, we sat down with Gene Tannuzzo, Global Head of Fixed Income at Columbia Threadneedle, right as the Federal Reserve’s latest rate decision hit the wires. We walk through the live market reaction to the Fed’s 25 basis point cut, the dissenting voices on the FOMC, and what this move signals about the central bank’s shifting priorities. For those curious about how policy decisions ripple into real-time trading activity, this episode gives you a rare seat at the table during the announcement itself.As Gene explains, the flatness of today’s yield curve and the Fed’s projections for additional cuts this year underscore the tension between slowing labor market data and still-stubborn inflation. We dig into the nuances of steepeners versus flatteners, what the dot plot is really telling us, and how fiscal policy plays into the broader bond market narrative. Whether you’re an experienced market watcher or just starting to understand the dynamics of Fed meetings, you’ll come away with a much clearer framework for interpreting these moves.We also broaden the conversation to explore structural shifts in the economy, including labor force trends, immigration, and the role of AI in reshaping productivity and capital spending. Gene helps break down why funding markets matter, how balance sheet policy can contradict rate policy, and what investors should watch for as the Fed balances credibility, growth, and inflation risk. The result is a lively, insightful discussion that blends market theory, policy analysis, and practical trading perspective.For a 14 day FREE Trial of Macabacus, click HERE For 20% off Deleteme, use the code TWSS or click the link HERE!  Sign up for our LIVE Virtual Bootcamps! 2-Day Financial Modeling Bootcamp Master the technical Excel and accounting skills essential for investment banking, private equity, and fundamental investing. (Learn more HERE) Global Markets & Investing PlaybookA one-day crash course on the financial ecosystem, perfect for anyone seeking a big-picture understanding of how global markets and Wall Street fit together. Our content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. (Learn more HERE)

Send us a textKristen and Jen dive into the real-life Succession drama unfolding inside the Murdoch family, breaking down the legal battle over the Fox and News Corp trust that controls the family’s Class B super-voting shares. They explain how Rupert and Lachlan Murdoch secured a deal to buy out their siblings at a discount, why dual-class share structures matter for corporate control, and how this settlement resolves questions around long-term leadership of Fox Corp. The hosts connect it back to valuation, governance, and even their own courses, showing how the Disney–Fox transaction and the Murdoch saga mirror the themes of HBO’s Succession while providing a real-world case study in M&A and family business dynamics.They also preview next Wednesday that they will be streaming live on YouTube immediately after the FOMC meeting to break down the Fed’s statement and market reaction in real time. They’ll be joined by the global head of income at a $650+ billion investment firm to give listeners a rare, trading-floor perspective on how professionals dissect every nuance of Fed language and position themselves in the bond market. Expect sharp analysis on yields, funding pressures, and curve moves—plus the chance to watch the news unfold live with expert commentary.For a 14 day FREE Trial of Macabacus, click HERE Sign up for our LIVE Virtual Bootcamps! 2-Day Financial Modeling Bootcamp Master the technical Excel and accounting skills essential for investment banking, private equity, and fundamental investing. (Learn more HERE) Global Markets & Investing PlaybookA one-day crash course on the financial ecosystem, perfect for anyone seeking a big-picture understanding of how global markets and Wall Street fit together. Our content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. (Learn more HERE)

Send us a textAlex Rodriguez is not only one of the greatest players in Major League Baseball history, 22 seasons, 14 All-Star selections, and three American League MVP award, but also the founder and CEO of A-Rod Corp. Through A-Rod Corp, he has built a diversified platform across three pillars: sports, real estate, and venture capital. His portfolio spans ownership of the Minnesota Timberwolves and Lynx, more than $2 billion invested in multifamily and other real estate, and over 60 venture investments in technology, fitness, media, and consumer brands.In this episode, Rodriguez explains how his interest in investing began at a young age, shaped by both his upbringing and the hard data he studied about professional baseball careers. Growing up in a single-parent household, he watched his mother juggle two jobs to make ends meet, which instilled in him both a fear of financial insecurity and a drive to build long-term stability. He breaks down how he approaches each asset class, from viewing team ownership as a long-duration, low-leverage asset, to focusing on levered cash flows in real estate, to applying his “VCP” filter, Vision, Capital, People, for venture investments. He also shares the story of setting the then-record $252 million contract with the Texas Rangers in 2001 and how Warren Buffett personally insured the final years of that deal.Finally he  talks about the importance of investing early and often, lessons he instilled in his daughters when they were in elementary school, and why it's so important to invest early and often. It’s a conversation that connects the mindset of an elite athlete with the discipline of a savvy investor.For a 14 day FREE Trial of Macabacus, click HERE For 20% off Deleteme, use the code TWSS or click the link HERE!  Sign up for our LIVE Virtual Bootcamps! 2-Day Financial Modeling Bootcamp Master the technical Excel and accounting skills essential for investment banking, private equity, and fundamental investing. (Learn more HERE) Global Markets & Investing PlaybookA one-day crash course on the financial ecosystem, perfect for anyone seeking a big-picture understanding of how global markets and Wall Street fit together. Our content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. (Learn more HERE)

Send us a textIn this week’s episode of The Wall Street Skinny, Kristen and Jen return to one of their favorite formats: dissecting the finance lessons hidden inside pop culture. This time, they take on Moneyball, a Michael Lewis classic that at first glance looks like a baseball story, but in reality is a masterclass in statistics, valuation, and market inefficiencies. Far more than just a sports narrative, Moneyball is about how disciplined analysis and data-driven decision-making can disrupt entrenched orthodoxy, whether on Wall Street or on the baseball field.Kristen and Jen break down how Billy Beane transformed the Oakland A’s into one of the most competitive teams in baseball despite having one of the smallest budgets. From identifying undervalued assets (players) through on-base percentage and walks, to gaming the draft system with the savvy of a hedge fund trader, the discussion highlights how Beane’s approach mirrors the strategies of top portfolio managers. The episode draws explicit parallels between constructing a winning baseball roster and building a resilient investment portfolio, making it essential listening for anyone serious about finance.The conversation also zooms out to compare the economics of MLB with the NFL and NBA, where league structures, revenue sharing, and salary caps create vastly different financial dynamics. Along the way, the hosts spotlight themes of efficiency, market psychology, and the importance of independent thinking in both sports and investing. It’s the perfect prelude to next week’s special episode featuring one of the greatest Major League players of all time.Time Stamps00:00 – Why we're discussing Moneyball and its relevance to statistics, markets, and finance06:30 – MLB economics vs. NFL & NBA (sports business breakdown)10:15 – Small-market baseball teams + budget constraints explained13:40 – MLB draft system & farm leagues (player development economics)18:00 – Bill James + Sabermetrics: data, stats, and inefficiencies23:30 – Why on-base percentage beats batting average (investing analogy)28:00 – Market inefficiencies: scouting looks vs. true player value32:00 – 2002 Oakland A’s draft (game theory in action)38:00 – Building a roster like building a portfolio (finance lessons)43:00 – 20-game win streak + postseason risk management47:00 – Boston Red Sox adopt Moneyball, win the World Series50:00 – When everyone copies the edge (quant strategies in baseball)53:00 – Trading lessons + investor takeaways from Moneyball56:00 – Tease: legendary MLB player + investor joins nextFor a 14 day FREE Trial of Macabacus, click HERE For 20% off Deleteme, use the code TWSS or click the link HERE!  Sign up for our LIVE Virtual Bootcamps! 2-Day Financial Modeling Bootcamp Master the technical Excel and accounting skills essential for investment banking, private equity, and fundamental investing. (Learn more HERE) Global Markets & Investing PlaybookA one-day crash course on the financial ecosystem, perfect for anyone seeking a big-picture understanding of how global markets and Wall Street fit together. Our content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. (Learn more HERE)

Send us a textIn this emergency episode of The Skinny on Wall Street, Kristen and Jen dive into the breaking news that President Trump has moved to fire Federal Reserve Governor Lisa Cook over accusations of mortgage fraud. Using this moment as a springboard, they break down the fundamentals of how the Fed works, why its independence is so important, and how politics intersects with monetary policy.The discussion covers the structure of the Federal Reserve System, the difference between Governors and Presidents, and how the powerful Federal Open Market Committee (FOMC) sets interest rates. Kristen and Jen also explain the Fed funds rate, the dot plot, and the toolkit the central bank uses to manage short-term and long-term rates.Finally, they unpack the risks of political interference in the Fed, why central bank credibility rests as much on perception as on reality, and what this unprecedented move could mean for the future of U.S. monetary policy. Equal parts explainer and commentary, this episode is a must-listen for anyone trying to make sense of the headlines, and the institution at the heart of America’s financial system.00:00 – Intro & why we’re doing an emergency Fed episode 02:15 – What is the Federal Reserve? 06:10 – Governors vs. Presidents: who does what? 11:45 – How the FOMC is structured and how voting works 16:30 – Fed appointments: who nominates and who confirms 21:15 – Why central bank independence matters 27:50 – The Fed’s dual mandate explained 32:40 – How the Fed funds rate is set (and why it’s a range) 40:20 – Tools in the Fed’s toolkit: reserves, repos, and QE/QT 48:30 – Short-term vs. long-term rates and the yield curve 55:00 – Politics, perception, and the risks of interference 1:02:15 – Lisa Cook, Trump, and the “for cause” firing question 1:12:00 – The dot plot: what it is and why it matters 1:19:30 – Closing thoughts: independence, expectations, and the Fed’s futureFor a 14 day FREE Trial of Macabacus, click HERE Sign up for our LIVE Virtual Bootcamps! 2-Day Financial Modeling Bootcamp Master the technical Excel and accounting skills essential for investment banking, private equity, and fundamental investing. (Learn more HERE) Global Markets & Investing PlaybookA one-day crash course on the financial ecosystem, perfect for anyone seeking a big-picture understanding of how global markets and Wall Street fit together. Our content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. (Learn more HERE)

Send us a textIn this episode of The Wall Street Skinny, Jen unpacks an overlooked risk brewing beneath the surface of financial markets. Why did Jerome Powell, head of the Fed, deliver such a surprisingly “dovish” speech at Jackson Hole? Jen suggests it may be because he sees this liquidity problem coming. Looking ahead, Kristen and Jen walk listeners through what to watch: not just whether the Fed cuts rates in September (they signaled pretty strongly that is coming) but also whether regulators adjust rules to make it easier for banks to hold Treasuries. Both moves could help ease the pressure. By breaking down complex concepts like “quantitative tightening” and “repo markets” into plain language, this episode shows how plumbing deep in the financial system can ripple out into markets and the economy, and why these behind-the-scenes moves matter for everyone.For a 14 day FREE Trial of Macabacus, click HERE For 20% off Deleteme, use the code TWSS or click the link HERE!  Sign up for our LIVE Virtual Bootcamps! 2-Day Financial Modeling Bootcamp Master the technical Excel and accounting skills essential for investment banking, private equity, and fundamental investing. (Learn more HERE) Global Markets & Investing PlaybookA one-day crash course on the financial ecosystem, perfect for anyone seeking a big-picture understanding of how global markets and Wall Street fit together. Our content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. (Learn more HERE)

Send us a textThis week on The Skinny on Wall Street, Kristen and Jen dive into the resurgence of SPACs and yes, Chamath Palihapitiya, the once-dubbed “SPAC King,” is back with a brand-new deal. We unpack what a SPAC really is, why they exploded in 2020, changes in the new structures and more. From warrants and dilution to sponsor “promotes” and fee double-dips, we break down the mechanics in plain English and debate whether this latest wave feels like opportunity or déjà vu all over again.Alongside the SPAC talk, we zoom out to explore what’s happening in broader markets. Jen highlights shifts in global rates,  including why European long-term yields are rising even as the ECB cuts, while Kristen points to an unusual disconnect with U.S. credit spreads at 30-year lows. We also touch on a wild market day sparked by headlines about AI pilot program failures, raising the question of whether investors are once again pricing perfection into risk assets.Finally, we share some exciting updates from The Wall Street Skinny itself. We’ve launched live interactive events like AI-Proof Your Career on LinkedIn and YouTube, giving listeners the chance to learn and engage with us directly. Plus, in the spirit of “back to school,” we’re running a limited-time flash sale on our finance courses, from express Excel bootcamps to deep-dive investment banking and private equity technicals. Whether you’re a student, a new hire, or just a finance junkie, this episode blends timely Wall Street analysis with practical ways to sharpen your own skills.Find courses HERE and use code AUG25FLASH for 20% off through August 24, 2025!For a 14 day FREE Trial of Macabacus, click HERE For 20% off Deleteme, use the code TWSS or click the link HERE!  Sign up for our LIVE Virtual Bootcamps! 2-Day Financial Modeling Bootcamp Master the technical Excel and accounting skills essential for investment banking, private equity, and fundamental investing. (Learn more HERE) Global Markets & Investing PlaybookA one-day crash course on the financial ecosystem, perfect for anyone seeking a big-picture understanding of how global markets and Wall Street fit together. Our content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. (Learn more HERE)

Send us a textWorried AI will take your Investment Banking job? There's no avoiding AI these days, so how do you understand it, use it to your advantage, and outperform it in Investment Banking and high finance roles?We asked our community for their toughest questions about the future of finance careers in the age of AI, and sat down for 30 minutes with former Blackhawk helicopter pilot and 30-year Wall Street veteran Frank Van Buren to give you our real answers, LIVE.In this live session, we answered the questions:-  Which AI systems are (and aren't) being adopted across Investment Banks?-  What is the impact on M&A, modeling, and junior roles?-  Which skills are becoming a must-have, and which are being made obsolete?-  Should I learn coding languages like Python?-  What is the future of AI in trading and investing?-  What is the value of client relationships in the post-AI era?-  How can senior employees stay relevant and employable in this changing environment?-  What are the risks and dangers of using AI in finance?-  What college major should I choose if I want to get a job?-  How can I stand out as a candidate in the future job market?-  What should I say in interviews to land the offer?Watch to learn how to AI-proof your finance career, get hired, and stay relevant.For a 14 day FREE Trial of Macabacus, click HERE Sign up for our LIVE Virtual Bootcamps! 2-Day Financial Modeling Bootcamp Master the technical Excel and accounting skills essential for investment banking, private equity, and fundamental investing. (Learn more HERE) Global Markets & Investing PlaybookA one-day crash course on the financial ecosystem, perfect for anyone seeking a big-picture understanding of how global markets and Wall Street fit together. Our content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. (Learn more HERE)