The Wall Street Skinny

Send us a textWe are BACK, baby! We've missed you guys, and we're so sorry we've been MIA while we've been getting ready to launch our flagship self-paced course. Join the waitlist to make sure you have early access here:  https://the-wall-street-skinny.mykajabi.com/waitlist-opt-in-IBDToday we talk about Apollo's quest to become a megalith in the private credit space, looking to double their Assets Under Management (AUM) from ~$700bn to $1.5tr over the next 5 years with support from the likes of JPMorgan.  We also discuss this Wall Street Journal article: https://www.wsj.com/finance/investing/the-giant-hedge-fund-that-hates-risk-and-still-wins-1110e90a, explaining the basics of how Sharpe ratios are used to measure individual and fund investment performance.  And we are joined by Alex Cavalieri, Head of Marketing at CAIS (https://www.caisgroup.com/) ahead of their October CAIS Summit, where we'll be live on the ground interviewing some of the thought leaders shaping the industry in realtime!For a 14 day FREE Trial of Macabacus, click HERE For 20% off Deleteme, use the code TWSS or click the link HERE! Our Investment Banking and Private Equity Foundations course is LIVEnow with our M&A course included! Shop our LIBRARY of Self Paced Online Courses HEREJoin 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.

Send us a textIn this episode of 'Industry S1E2,' Jen and Kristen continue their analysis of HBO Max's hit show 'Industry.' The duo breaks down technical aspects of foreign exchange trading, client relationship management, and the distinct cultures between different divisions within an investment bank. They explain key financial concepts such as FX trading pairs, the importance of client communication, and how sales and trading desks operate. They also touch upon the realistic portrayal of work dynamics, including the unique hazing rituals and the complicated mentor-mentee relationships portrayed in the show.Listeners will gain insights into the intricate details of trading and finance as Jen and Kristen draw parallels to their own real-life experiences on Wall Street. From explaining the hierarchical structure of trading desks to dissecting the nuances of client exclusivity and sales credits, this episode offers a comprehensive look into the high-stakes world of investment banking. Whether you're an industry veteran or new to the financial sector, this episode provides valuable knowledge and perspectives that enrich your understanding of finance. Follow The Industry | Unofficial Companion Podcast to HBO Max's Hit TV Show "Industry"  Here if you want to hear more analysis of Indstury.For a 14 day FREE Trial of Macabacus, click HERE For 20% off Deleteme, use the code TWSS or click the link HERE!  Our Investment Banking and Private Equity Foundations course is LIVEnow with our M&A course included! Shop our LIBRARY of Self Paced Online Courses HEREJoin 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.

Send us a textFrom your besties at The Wall Street Skinny comes a no-holds barred deep dive into every episode of HBO Max’s hit TV show “Industry”. We give you the skinny on what they get RIGHT, what they get WRONG, how it all works, and where the fictional drama intersects with stories from our own lives.  Follow the show HEREFor a 14 day FREE Trial of Macabacus, click HEREOur Investment Banking and Private Equity Foundations course is LIVEnow with our M&A course included! Shop our LIBRARY of Self Paced Online Courses HEREJoin 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.

Send us a textYou've seen all over the financial press that the Federal Reserve cut its key interest rate 50 basis points at its meeting last week. And you've heard economists yapping in the news about "hard landings" and "soft landings" for the economy. But what does that actually MEAN?We break it all down with none other than Jamie Patton, co-head of Global Rates at TCW, a $200bn multi-asset manager headquartered in California. Jamie started her Wall Street career in Interest Rate Sales at Lehman Brothers, then moved to Barclays Capital before exiting to a role managing Wells Fargo's Bank Portfolio and subsequently joining TCW. Sure you've heard from Jen a bunch about the lifestyle on the trading floor, but Jamie brings a hilarious and raw perspective sharing her experiences of getting screamed at by clients...and ultimately finding her own voice. Jamie is an expert not only in all things interest rate related, but also talks us through what it takes to succeed in Fixed Income Sales & Trading, what the exit opportunities from those jobs are and how to navigate them, and what it's like having kids and moving from more junior to incredibly senior high finance roles as a mother of three.  Jamie also gives us insight into what a career at an asset management firm looks like and whether a CFA might help you edge out the competition for the role you want.  Jamie Patton is a Specialist Portfolio Manager in the Fixed Income group and is Co-Head of Global Rates. She is responsible for the portfolio management of U.S. Treasuries, global sovereign bonds, TIPS, agencies, money market instruments, commodity strategies, and derivatives. In conjunction with the generalist portfolio managers, she implements decisions on duration and yield curve across our products. Ms. Patton joined TCW in 2022 from Wells Fargo where she ran the enterprise’s Derivative Trading and Hedging Strategy team. Prior to joining Wells Fargo in 2017, Ms. Patton spent 13 years at Lehman/Barclays focused on interest rate and foreign exchange products. She sits on the board of the Police Activities League, a non-profit organization with the goal of empowering and enabling economically disadvantaged students to capitalize on opportunities for advancement. Ms. Patton holds a BS in Computer Science from Princeton University and is a licensed private pilot.For a 14 day FREE Trial of Macabacus, click HERE For 20% off Deleteme, use the code TWSS or click the link HERE!  Our Investment Banking and Private Equity Foundations course is LIVEnow with our M&A course included! Shop our LIBRARY of Self Paced Online Courses HEREJoin 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.

Kristen, an expert in financial modeling and Excel for Investment Banking, shares invaluable tips on Excel essentials. She covers the differences between PC and Mac usage, the importance of keyboard shortcuts for efficiency, and best practices in financial modeling. Ryan MacGregor, Macabacus founder, discusses its role as a critical tool for success in finance, while Rahul Gill emphasizes how productivity add-ins can set candidates apart in the competitive market. They explore the integration of AI and the significance of presentation and quality in financial reports.

Send us a textWe've heard your countless requests for a review of HBO Max's hit TV show The Industry, and we are buzzing with excitement about our new favorite show!!!  We go over every single critical detail of Season 1, Episode 1 --- from how accurate the interview questions are, the sights and sounds of the trading floor, lifestyle in Investment Banking, all the jargon, and the mechanics of the ACTUAL TRADES depicted in this episode!!!  This is the most accurate representation of real day-to-day life at an Investment Bank that we've seen on TV or in movies EVER.  It is a must-watch series if you're thinking about a Wall Street career.  We break it all down for you: what they get right, what they get wrong, and what details are really winks specially aimed at insiders in the know.Do not miss our single most requested episode EVER!!!In this episode covering S1E1, we examine the challenges faced by new analysts joining a major investment bank. We unpack the realities of late-night modeling sessions, the pressure to secure deals, and the competitive nature of the finance industry, as seen through the characters of Harper and Hari. With references to real-life banking practices and the accurate depiction of trading floor dynamics, this episode provides a revealing look at the intense environment of Wall Street.We follow Harper as she navigates her way through the high-octane world of fixed income sales, getting her first chance to pitch a trade idea at a client dinner. Meanwhile, we see Hari pushing himself to dangerous limits to prove his worth in investment banking. Kristen and Jen discuss how their experiences mirror the show's depiction of complex relationships between junior and senior employees, as well as the nuanced interactions within banking divisions. This episode is a must-listen for anyone looking to understand the gritty details and cutthroat nature of the financial industry. Tune in for expert analysis and behind-the-scenes stories that bring HBO's Industry to life in a whole new way.For a 14 day FREE Trial of Macabacus, click HERE For 20% off Deleteme, use the code TWSS or click the link HERE!  Our Investment Banking and Private Equity Foundations course is LIVEnow with our M&A course included! Shop our LIBRARY of Self Paced Online Courses HEREJoin 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.

Send us a textThe biggest mistakes people make are in love and money.  And how we do --- or don't --- talk about money can have a huge impact on our relationships.  Today we’re joined by Libby Leffler, Founder & CEO of First (https://www.thisfirst.com) to discuss the good, the bad, and the misunderstood about prenuptial agreements ("prenups") when it comes to strengthening your financial and emotional happiness.  So, who needs a prenup, and why?  Why are more women than ever initiating the conversation around prenups?  What risks are you exposed to if you don't have a prenup?  We discuss the rapidly shifting trends, evolving perceptions, and changing use cases around prenups today.  We also learn about life as a tech founder (something we ex-investment bankers know nothing about).  Libby's shares not only her journey through some of the world's biggest tech giants,  but also her journey through motherhood as a founder at the helm of a new rocket ship company.Libby holds degrees from U.C. Berkeley and Harvard Business School.  She emerged as a leader and executive at generation-defining companies like Google, Facebook, SoFi, and Compass before launching First.Libby founded First to modernize prenups for smart couples who want a stress-free and affordable way to strengthen the financial foundation of their relationship.  First provides seamless and cost effective legal agreements on its platform, created in collaboration with top family law attorneys. They are a completely online, flat-fee prenup platform that allows you and your partner to get a highly enforceable document reviewed by real lawyers drafted within a day – all for less than 10% of the cost of a traditional lawyer. We’re excited to bring our WSS listeners a special discount when you buy a prenup with First. Head to www.thisfirst.com and use the code “WSS10” at checkout to get a 10% discount on your prenup. Follow First on Instagram @thisfirst, TikTok @first, and  LinkedIn linkedin.com/company/thisfirstYou can find Libby Leffler on LinkedIn at linkedin.com/in/libbylhFor a 14 day FREE Trial of Macabacus, click HERE For 20% off Deleteme, use the code TWSS or click the link HERE!  Our Investment Banking and Private Equity Foundations course is LIVEnow with our M&A course included! Shop our LIBRARY of Self Paced Online Courses HEREJoin 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.

Send us a textToday we are joined by Dan Nathan, CNBC Fast Money superstar and co-host of podcasts On the Tape, OK Computer, and Market Call.  After three decades in the industry on both the buy side (at legendary hedge funds like SAC) and the sell side (at firms like Merrill Lynch), Dan is an expert on the equity markets and options trading.  Dan shares his insight into the evolution of the equities trading business, the insider secrets of what it’s like being a pundit talking about the markets on TV every day, and a crash course in equity options 101.We walk through the basic mechanics of incorporating simple strategies like puts, calls, straddles, and costless collars or risk reversals into a basic long equities position.We also talk about trading philosophies in general --- how both retail and institutional investors have shifted their approach in the past few years, how to formulate and argue a thesis every day on national television, and how AI may change the landscape going forward.To listen to Dan's podcasts, check out Risk Reversal Media's offerings here:  https://www.youtube.com/@RiskReversalMedia/podcastsWatch him weeknights on CBNC's Fast Money:  https://www.cnbc.com/fastmoney/And check out his new podcast MRKT Matrix here:  https://podcasts.apple.com/us/podcast/mrkt-matrix/id1747214891For a 14 day FREE Trial of Macabacus, click HERE For 20% off Deleteme, use the code TWSS or click the link HERE!  Our Investment Banking and Private Equity Foundations course is LIVEnow with our M&A course included! Shop our LIBRARY of Self Paced Online Courses HEREJoin 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.

Send us a textToday’s episode is for all of you buy side and private markets junkies.  We are joined by Ted Seides, who is the host of the Capital Allocators and Private Equity Deals podcasts, soon to be thrice-published author, and expert in the Alts — the world of hedge funds and private capital investing.One of Ted’s superpowers is understanding both sides of the alts investing coin. He started his career working with David Swensen at the Yale endowment and ultimately went on to lead his own multibillion dollar alternative asset manager before segueing into his current role as a thought leader and advisor amongst the biggest names in hedge funds and private equity.  You may also have heard of him from a little friendly wager he made with Warren Buffet a few years back.  For those of you who want to break into the Alts, you must listen to the lessons Ted has gleaned from years of conversations with the heads of the worlds’s biggest investment firms.  So whether you’re a seasoned investor looking for a path to branch out on your own, or you’re an industry newcomer looking to understand key takeaways from some of the all time greatest deals, this episode’s for you.Pre order Private Equity Deals on Amazon at https://www.amazon.com/Private-Equity-Deals-dealmaking-professionals/dp/1804090735For a 14 day FREE Trial of Macabacus, click HERE For 20% off Deleteme, use the code TWSS or click the link HERE!  Our Investment Banking and Private Equity Foundations course is LIVEnow with our M&A course included! Shop our LIBRARY of Self Paced Online Courses HEREJoin 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.

Discover the implications of recent payroll data revisions and the questions raised about market trustworthiness. Dive into the complexities of corporate restructuring with insights on why companies like Google may split. Explore the strategic role of cash versus stock in mergers and acquisitions, including the nuanced impacts of convertible bonds. Plus, gain valuable career tips with a free resume template for those looking to break into finance. This discussion offers a blend of crucial financial concepts and practical advice!