The Wall Street Skinny

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 hikes in 2025, offering listeners a nuanced breakdown of market reactions and the intricacies of monetary policy.Then, the conversation takes an unexpected turn into the world of cryptocurrencies, specifically meme coins like Fartcoin. Kristen and Jen explore the rise of these speculative assets, the involvement of artificial intelligence in trading, and the philosophical questions surrounding AI's role in the financial markets. This segment delves into the wild volatility of meme coins, the lessons learned from historical market manipulations, and the potential future implications of AI-driven trading strategies. Whether you're a seasoned investor or just curious about the latest market chatter, this episode is packed with insights and thought-provoking discussions.Learn more about 9fin HERE Shop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others’ experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

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 the interaction between sales desks and endowments like Harvard's.We scrutinize the ethical dilemmas faced by characters like Yasmin, Kenny, and Maxim, and discuss how their interactions reflect real-world sales and trading practices. Topics include the importance of client relationships, the personal and professional boundaries that get blurred, and the ethical implications of various decisions made by the characters. This episode also provides a stark contrast between the Hollywood portrayal of Wall Street's gritty reality and the actual nuanced practices in the finance industry.Finally, we reflect on the pivotal scene where Harper is pressured by her superiors to sign off on Eric's termination, diving into the power dynamics and ethical quandaries within corporate environments. This discussion exposes the underlying themes of authority and manipulation in the finance world, providing listeners with a richer understanding of the intricacies and ethical challenges depicted in Industry. Join us as we unpack these finance-centric storylines and their implications within the broader narrative.Learn more about 9fin HERE Shop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others’ experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

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 covers the evolving landscape of equity markets, the role of market makers, and the impact of technological advancements on trading. Enis shares valuable insights into the risks and rewards of trading single stock options, the importance of understanding volatility, and the unique challenges posed by events like GameStop's historic short squeeze and the volatility in names like MicroStrategy. Whether you're a finance professional or just curious about the inner workings of the stock market, this episode is packed with valuable knowledge and expert perspectives.Enis Taner was an equity derivatives trader at at top banks including Merrill Lynch, Goldman Sachs, and Jefferies. A graduate of Brown University with a degree in Applied Mathematics and Economics, his expertise has been recognized through his contributions to CNBC where he discussed his market views on several shows including Fast Money, Halftime Report, and Closing Bell. Enis grew up in Tulsa, Oklahoma, and lives in Hoboken with his wife and two daughters.Learn more about 9fin HERE Shop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others’ experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

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 recent hawk tuah girl meme coin debacle, and chat about the stark contrasts between the heavily regulated world of traditional finance and the wild west of cryptocurrencies. Learn more about 9fin HERE Shop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others’ experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

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 real-life insights from Jen and Kristen's own careers in finance.The episode unravels the complexities of mentorship and social mobility within the financial industry. We examine how characters navigate class tensions, the influence of networking, and the often problematic dynamics between mentors and mentees. Whether it's understanding the fallout from being short euros, dissecting the hierarchical challenges faced by junior analysts, or exploring the social pressure to conform, we've got you covered.Additionally, we spotlight the contrasting responses of characters to workplace pressures and moral dilemmas, examining how their backgrounds influence their decisions and interactions. Tune in to get the skinny on what's real and what's just Hollywood as we break down everything from finance to workplace culture in your favorite show.Learn more about 9fin HERE Shop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others’ experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

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 getting creative to overcome job market challenges. Frank also discusses his new book, "Lessons from the Cockpit", and announces an upcoming seminar designed to help aspirants succeed on Wall Street. Additionally, the episode highlights Frank's experiences, the interviewer's inquiries about veteran program resources, and the crucial role of soft skills in finance.To Register for Wall Street Decoded December 17, use the link below. https://frankvanburen.com/wall-street-decoded/ Code  "TWSS" will get you 10% off!  Learn more about 9fin HERE Shop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others’ experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

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 convert --- not only discussing why it's so extreme, but also WHY there is likely demand for bonds that have such unfavorable terms for investors. And then finally we discuss a reported block trade Citi did for Goodman Group. We get into what a block trade is, and why Citi is on track to lose $50mm (possibly more) as a result of not correctly pricing the risk. Learn more about 9fin HERE Shop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others’ experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

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, and the Federal Reserve's dual mandate, listeners get a comprehensive summary of real-world finance mechanics.As the drama unfolds, the podcast tackles critical financial strategies and mistakes, such as the implications of currency risk management, market expectations, and the ethical standards within trading floors. They evaluate Harper's ill-conceived decision to cover up her error by leveraging a risky NFP forecast, highlighting her missteps and the importance of immediate transparency in high finance. Additionally, Krista and Jen offer insights into the dynamics between front office and back office roles, presenting a nuanced look at the challenges and hierarchies within investment banking.The episode juxtaposes the intense financial maneuvers with the personal dramas of the characters, giving listeners both an emotional and educational experience. From understanding the rigorous trust required between managers and analysts to the sophisticated financial concepts and ethical standards essential for a trading career, this episode packs a wealth of knowledge on how real-life financial markets operate, all while keeping you entertained thanks to HBO's dramatic storytelling.Learn more about 9fin HERE Shop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others’ experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

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 gaming sector), high yield bond investing and private placements, Alona demystifies the complex factors that differentiate private credit from conventional bank financing, offering listeners a comprehensive overview of the risks, rewards, and strategies required for success.The discussion also covers the critical considerations private equity firms must weigh when choosing between traditional financing methods and direct lending, including efficiency, certainty of execution, and incremental financing. Alona illuminates the life cycle of these investments, their repayment timelines, and how firms like Churchill Asset Management navigate repayments and refinancing events in an ever-changing market. Whether you're a seasoned investor or new to the field, this episode offers a treasure trove of knowledge on one of today’s most dynamic and lucrative sectors within the finance industry.Learn more about 9fin HERE Shop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others’ experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

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 between personal and professional relationships, highlighting Gus and Robert's varying strategies to win over the client, Usman, and why in some cases the smartest person in the room isn't the one who comes out on top. We give our take on the challenging balance of maintaining professional relationships and achieving career growth on Wall Street. Learn more about 9fin HERE Shop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others’ experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.