The Wall Street Skinny

Send us a textInterest rates drive everything in the markets, and expectations of rate cuts or hikes by the Fed can move the markets and make or break fortunes.  But how do we know what 'the market' expects?  In today's skinny mini we break down the simple truth behind where numbers like 'the market expects there is a 72% chance of a rate cut' comes from and why the current situation is wildly contradictary.Sign up for our Talent Accelerator HERE today! Visit Vanta.com/wallstreet for $1,000 offShop the MAY SALE:- Buy the FULL IBD / PE course for 20% off HERE- M&A Standalone Course $50 OFF HERE Enroll in the Financial Modeling Talent Accelerator HERE Join the Fixed Income Sales and Trading waitlist HERE 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.Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... ...

Send us a textPart II of our conversation with Cameron Boland and Kate Kourlis from executive recruiting firm GoBuyside.  Our focus shifts to off-cycle recruiting for private equity firms and hedge funds.  We discuss strategies for navigating your search for your next career, identifying opportunities that set you up for success, do's and don'ts for negotiating the offer, and how recruiters are incentivized to help you succeed.  We also tackle the CRITICAL listener question of: what do I need to know if I'm an international applicant and not a US citizen?  Cameron Boland is the President of GoBuyside, and Kate Kourlis is the Executive Director of Business Development.  GoBuyside is a community of professionals in the financial services industry. GoBuyside connects employers with top-tier talent, streamlining the hiring process and ensuring access to great candidates for exceptional roles.To explore GoBuyside's platform, please visit GoBuyside.comSign up for our Talent Accelerator HERE today! Visit Vanta.com/wallstreet for $1,000 off Start your FREE TRIAL of Training The Street's Turbo Macros HEREShop the MAY SALE:- Buy the FULL IBD / PE course for 20% off HERE- M&A Standalone Course $50 OFF HERE Enroll in the Financial Modeling Talent Accelerator HERE Join the Fixed Income Sales and Trading waitlist HERE 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.Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... ...

Send us a textHappy holidays from The Wall Street Skinny!  We are giving your brain a bit of a break this week.  We share some fun stories of holiday parties gone terribly awry, rules for navigating vacation and time off, and tips on how NOT to get fired right before bonuses are paid.  We discuss some shifts over the past decade and some prevailing attitudes toward work/life balance on Wall Street as societal expectations change.  Sign up for our Talent Accelerator HERE today! Visit Vanta.com/wallstreet for $1,000 off Start your FREE TRIAL of Training The Street's Turbo Macros HEREShop the MAY SALE:- Buy the FULL IBD / PE course for 20% off HERE- M&A Standalone Course $50 OFF HERE Enroll in the Financial Modeling Talent Accelerator HERE Join the Fixed Income Sales and Trading waitlist HERE 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.Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... ...

Send us a textIn today's episode we use WeWork as a case study to break down SPACs, for a deeper dive into the IPO process, the bankruptcy and we explore how the world's most sophisticated venture capital and private equity investors came up with a $47bn valuation for a company when the math didn't justify it at all….In order to keep it interesting we discuss the  beginning of the WeWork story through the lens of "We Crashed",  the Apple TV miniseries about WeWork.starring Jared Leto and Anne Hathaway.The Apple TV Series: WeCrashedThe Failed IPO:1. Scott Galloway Blogs (No Mercy No Malice)https://www.profgalloway.com/wewtf/https://www.profgalloway.com/wewtf-part-deux/2. Aswath Damodaran DCF (Musings on the Market)https://aswathdamodaran.blogspot.com/2019/09/runaway-story-or-meltdown-in-motion.html3. WSJ Article Sept 2019https://www.wsj.com/articles/this-is-not-the-way-everybody-behaves-how-adam-neumanns-over-the-top-style-built-wework-11568823827SPAC1. BowX Acquisition Corp S-1https:Sign up for our Talent Accelerator HERE today! Visit Vanta.com/wallstreet for $1,000 off Start your FREE TRIAL of Training The Street's Turbo Macros HEREShop the MAY SALE:- Buy the FULL IBD / PE course for 20% off HERE- M&A Standalone Course $50 OFF HERE Enroll in the Financial Modeling Talent Accelerator HERE Join the Fixed Income Sales and Trading waitlist HERE 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.Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... ...

Send us a textA job in Private Equity isn't the highest paying or even the hardest to get... it's actually a job at high frequency trading firms like Jane Street, highly secretive Wall Street firms you've never heard of.  So what actually takes place in those interviews and what do those traders even do? In Michael Lewis's new book, Going Infinite: The Rise and Fall of Sam Bankman-Fried ("SBF"), Michael Lewis tells the absolutely crazy story of SBF,  crypto, building his crypto exchange FTX, building his own trading firm Alameda Research, Effective Altruism ("EA"), the scandal that took him down leaving him with up to a 110 prison sentence AS WELL AS a sneak peek into these super secretive firms starting from the interview process to some of the craziest trades ever, including one election trade in 2016 that led to a $300mm loss.Michael Lewis is the author of other quintessential books anyone who wants to work on Wall Street must read including The Big Short, Liar's Poker and others. Resources mentioned in the episode:1. Matt Levine's Bloomberg Essay: "The Only Crypto Story You Need"https://www.bloomberg.com/features/2022-the-crypto-story/2. Odd Lots Podcast: https://podcasts.apple.com/us/podcast/odd-lots/id1056200096Sam Bankman-Fried and Matt Levine on How the Crypto Market Really Workshttps://podcasts.apple.com/us/podcast/sam-bankman-fried-and-matt-levine-on-how-the/id1056200096?i=1000531062191Sign up for our Talent Accelerator HERE today! Visit Vanta.com/wallstreet for $1,000 off Start your FREE TRIAL of Training The Street's Turbo Macros HEREShop the MAY SALE:- Buy the FULL IBD / PE course for 20% off HERE- M&A Standalone Course $50 OFF HERE Enroll in the Financial Modeling Talent Accelerator HERE Join the Fixed Income Sales and Trading waitlist HERE 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.Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... ...

Send us a textOzempic and similar drugs are dominating the conversation about culture, health, and financial markets right now.  But what does it mean for Wall Street --- not just for investors, but also in terms of its impact on the social norms of the industry?  **TRIGGER WARNING:  This episode contains a discussion of eating disorders and disordered eating.**After all, the world of Wall Street has made huge strides on the diversity front with one notable exception: body diversity.  In this episode, we discuss many of the very real problems with navigating body image in highly competitive, stressful environments where conspicuous consumption of food and alcohol may be an unwritten part of the job description.  We are joined by registered dietician Lindsay Lusson to explore the physiological and psychological impacts of trying to conform to these pressures, and what shifts we are seeing with new drugs like Ozempic AND a new generation coming up through the ranks.  Lindsey Lusson is Registered Dietitian who specializes in disordered eating and infertility. She has both personal and professional experience with Hypothalamic Amenorrhea (HA) or period loss related to over exercise and under eating. Her experience led her to become passionate about educating and empowering others to advocate for their health and take charge of their fertility through proper nutrition.  She has helped over 250 women recover cycles and restore their fertility naturally.Credentials:Education, Credentials & Training•Bachelors of Science in Nutrition from Texas A&M University•Masters in Exercise and Sports Nutrition from Texas Woman’s University•Certified Specialist in Sports Dietetics (CSSD 2013-2018)•Registered Dietitian (RD)•Board Certified Health Coach (NBC-HWC)Follow Lindsay onSign up for our Talent Accelerator HERE today! Visit Vanta.com/wallstreet for $1,000 off Start your FREE TRIAL of Training The Street's Turbo Macros HEREShop the MAY SALE:- Buy the FULL IBD / PE course for 20% off HERE- M&A Standalone Course $50 OFF HERE Enroll in the Financial Modeling Talent Accelerator HERE Join the Fixed Income Sales and Trading waitlist HERE 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.Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... ...

Send us a textWant to get an elite job on the buy side?  A recruiter --- otherwise known as a headhunter --- plays a significant role in the recruiting process for private equity recruiting.  In today's episode, we dive into  the private equity recruiting process with Kate Kourlis and Cameron Boland of GoBuyside.  We explain the role of recruiting firms, what to expect in the interview process, compensation, and how this process is evolving in real time.  Cameron Boland is the President of GoBuyside, and Kate Kourlis is the Executive Director of Business Development.  GoBuyside is a community of professionals in the financial services industry. GoBuyside connects employers with top-tier talent, streamlining the hiring process and ensuring access to great candidates for exceptional roles.Join the GoBuyside platform!https://www.gobuyside.com/Sign up for our Talent Accelerator HERE today! Visit Vanta.com/wallstreet for $1,000 off Start your FREE TRIAL of Training The Street's Turbo Macros HEREShop the MAY SALE:- Buy the FULL IBD / PE course for 20% off HERE- M&A Standalone Course $50 OFF HERE Enroll in the Financial Modeling Talent Accelerator HERE Join the Fixed Income Sales and Trading waitlist HERE 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.Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... ...

Send us a textWhether you are an investment banker working with the hottest new tech start up to take it public, working in private equity and 'exiting' an investment, OR you're considering a role in a startup with the goal of one day hitting it big, you must understand the critical function of IPOs in the lifecycle of a company.  In today's episode we use two companies that exemplify the classic 'sponsor backed IPO;, Birkenstock, and a more 'techy' IPO, Instacart, to answer the questions:- HOW and WHY would a company go public?- What is the role of an investment banker in the process?- What are the fees?- What is the difference between primary vs. secondary shares?- What is the difference between valuation and pricing?- What is the purpose of the IPO discount?- What is a greenshoe and why is it used? And much much more!Sign up for our Talent Accelerator HERE today! Visit Vanta.com/wallstreet for $1,000 off Start your FREE TRIAL of Training The Street's Turbo Macros HEREShop the MAY SALE:- Buy the FULL IBD / PE course for 20% off HERE- M&A Standalone Course $50 OFF HERE Enroll in the Financial Modeling Talent Accelerator HERE Join the Fixed Income Sales and Trading waitlist HERE 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.Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... ...

Jane Licurse, a former McKinsey consultant and Harvard Business School alum, shares her journey into consulting and the intense preparation behind it. She discusses the unique challenges of consulting interviews and the importance of a strong personal narrative. Jane opens up about the demanding nature of consulting careers, especially post-COVID, including the struggle with burnout and the value of soft skills. She also emphasizes the significance of storytelling and influence in professional growth, making her insights crucial for anyone considering a career in consulting.

Send us a textAnother listener favorite Q&A episode, where Kristen and Jen tackle real questions submitted by our listeners.  We use these questions as teaching tools to explain concepts far beyond the scope of any individual question, so be sure to stay tuned to learn valuable insight about the world of Wall Street.  Our questions in today's episode include:1.  How does changing the WACC (Weighted Average Cost of Capital) impact valuation when running a DCF (Discounted Cash Flow) analysis? What are the different theories of optimal capital structure and how does this all fit into the real world when companies are choosing whether to issue debt or equity? 2.  How do I ace my interview in a markets-based job, like the sales and trading division of an investment bank?3.  Why do we need circularity in investment banking models?4.  How do I know when to stop "buying the dip" when trading the markets?If you have any questions you'd like answered in a Q&A episode of our podcast, please write to us at questions@wallstreetskinny.comSign up for our Talent Accelerator HERE today! Visit Vanta.com/wallstreet for $1,000 off Start your FREE TRIAL of Training The Street's Turbo Macros HEREShop the MAY SALE:- Buy the FULL IBD / PE course for 20% off HERE- M&A Standalone Course $50 OFF HERE Enroll in the Financial Modeling Talent Accelerator HERE Join the Fixed Income Sales and Trading waitlist HERE 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.Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... ...