The Wall Street Skinny

We're BACK from a whirlwind 48 hours in NYC, fully rested and ready to give you the skinny on the latest in global markets. First, a quick recap of our adventures at one of the world's largest cap intro conferences, where we got to chat with some of the industry's greatest thought leaders and meet new friends throughout the industry. Next up, a quick note on today's Bloomberg article (linked below) discussing the decoupling of Gold and US Treasuries for the first time in 50 years. And finally, we touch on NVDA's spectacular sales growth and their stock split announcement, the mechanics of which Kristen explains in detail. https://www.bloomberg.com/news/articles/2024-05-23/bonds-decades-long-lead-over-gold-vanishes-as-debt-worries-grow The Funds4Teachers event is happening the dates below: Locations/Dates Atlanta - Apr 25 Boston - June 6 Chicago - June 18 New York - Sep 26 To learn more about how to support this initiative and register click here: https://iconnections.io/funds4teachers/ Follow us on Instagram and Tik Tok at @thewallstreetskinny https://www.instagram.com/thewallstreetskinny/

We talk about Hedge Fund, Private Equity, and other "Alternative" Investment Funds all the time. But we don't always stop to ask, "how do they get all their money?" In this episode, we sat down with CEO of iConnections Ron Biscardi to explore the world of "Cap Intro": the ecosystem within which capital --- meaning, the money from pension funds, endowments, foundations, insurance companies, family offices etc --- gets allocated to fund managers in the Alts space. We learn about seed capital (money that gets new funds off the ground), explore the roles of third party marketers, broker dealers, & prime brokerage within a bank when it comes to cap intro, and discuss how iConnections has built a platform backed by technology to facilitate the world's largest cap intro conferences. An expert in relationships and connecting people, Ron also shares his experience involving athletes, stars, and influencers like Kim Kardashian, Shaquille O'Neal, and Eli Manning in the conversation, all of whom have become formidable investors in their own right and are at the forefront of deal making in the space today. We are so excited to share this episode ahead of next week's SALT iConnections conference in NYC from May 20-21, where (thanks to Ron!) we will sharing live interviews with some of the industry's most influential and innovative thought leaders. The Funds4Teachers event is happening the dates below: Locations/Dates Atlanta - Apr 25 Boston - June 6 Chicago - June 18 New York - Sep 26 To learn more about how to support this initiative and register click here: https://iconnections.io/funds4teachers/ Follow us on Instagram and Tik Tok at @thewallstreetskinny https://www.instagram.com/thewallstreetskinny/

In today's episode we share our thoughts on the new Ghat-GPT4o update in light of Apple's controversial commercial, our thoughts on the difference between gambling and investing in light of the GameStop / AMC resurgence, and finally the intersection of golf and finance. The Funds4Teachers event is happening the dates below: Locations/Dates Atlanta - Apr 25 Boston - June 6 Chicago - June 18 New York - Sep 26 To learn more about how to support this initiative and register click here: https://iconnections.io/funds4teachers/ Follow us on Instagram and Tik Tok at @thewallstreetskinny https://www.instagram.com/thewallstreetskinny/

We often talk about institutional investors as the allocators of capital to the public and private markets. They are huge, active participants driving supply and demand dynamics in the fixed income and equity markets, and they often make sizable investments as LPs in private equity and private credit funds. But what exactly are they trying to accomplish, and why? We sat down with John Normand --- the former head of Cross-Asset Strategy at JP Morgan and the current head of Investment Strategy at Australian Super --- to discuss investment strategy at a superannuation fund (what we in the US think of as a "pension fund"). John is one of our most accomplished and distinguished guests to date. Not only does he explain the mechanics of defined benefit / defined contribution plans, but he also shares his philosophical perspective on the ethics of investing, his current views on the macro environment, and a crash course in one of the staples of fixed income markets: the Yen carry trade. This episode is a must listen for anyone who wants to understand how some of the biggest allocators of capital in both the public and private markets approach investment strategy. The Funds4Teachers event is happening the dates below: Locations/Dates Atlanta - Apr 25 Boston - June 6 Chicago - June 18 New York - Sep 26 To learn more about how to support this initiative and register click here: https://iconnections.io/funds4teachers/ Follow us on Instagram and Tik Tok at @thewallstreetskinny https://www.instagram.com/thewallstreetskinny/

Today's episode is a bit lighter. We get into what it means that "FTX found the money" as well as catch up about some super random stuff including the Tom Brady roast, NYC comedy clubs, Broadway, musical instruments, and our personal phobias. The Funds4Teachers event is happening the dates below: Locations/Dates Atlanta - Apr 25 Boston - June 6 Chicago - June 18 New York - Sep 26 To learn more about how to support this initiative and register click here: https://iconnections.io/funds4teachers/ Follow us on Instagram and Tik Tok at @thewallstreetskinny https://www.instagram.com/thewallstreetskinny/

Many assume that those who are skilled in high finance are also experts in personal finance and managing their own money. But NOTHING could be further from the truth! We sat down with Katy Song, a former Investment Banker and published author, who is the Chief Financial Planner for Domain Money (a new financial planning company that is revolutionizing the approach to personal finance) to understand the role and career path of a financial planner, explore the different challenges people face when it comes to managing their own money, and drill down into the specific advice she gives to clients looking to build wealth and accomplish their goals. Book a consultation session with Katy here: https://calendly.com/katysong/initial-consultation?month=2024-05 Access additional information and resources (including Katy's book, "Fear Less") here: https://www.domainmoney.com/advisors/katy-song Raised in Rye, New York, Katy moved to California in 1993 to attend the University of California, Santa Cruz (Go Banana Slugs!). After graduating in 1997 with honors and a B.A. in Global Economics, she worked for the U.S. Department of Commerce in the International Trade Administration. Katy attended the Haas School of Business at the University of California, Berkeley (Class of 2002), after which she worked as an investment banker for Citigroup. Since 2008, Katy has focused on helping families with young children and couples get their financial lives in order and put them on track for living the life they want. She is a member of the National Association of Personal Financial Advisors (NAPFA). At Domain Money, Katy serves as Chief Financial Planner, overseeing a team of CFP® professionals dedicated to crafting personalized financial plans that alleviate client stress and pave the way for their desired lifestyles. She spearheaded the development of Domain Money's financial planning process and service offerings, ensuring a client-centric approach. The Funds4Teachers event is happening the dates below: Locations/Dates Atlanta - Apr 25 Boston - June 6 Chicago - June 18 New York - Sep 26 To learn more about how to support this initiative and register click here: https://iconnections.io/funds4teachers/ Follow us on Instagram and Tik Tok at @thewallstreetskinny https://www.instagram.com/thewallstreetskinny/

In this week's edition of "The Skinny On", we get into an update on the Fed, Jen rants about bank balance sheet reqs, and Kristen gives you the skinny on the drama unfolding at Paramount amid merger talks with SkyDance and Apollo. The Funds4Teachers event is happening the dates below: Locations/Dates Atlanta - Apr 25 Boston - June 6 Chicago - June 18 New York - Sep 26 To learn more about how to support this initiative and register click here: https://iconnections.io/funds4teachers/ Follow us on Instagram and Tik Tok at @thewallstreetskinny https://www.instagram.com/thewallstreetskinny/

Credit Strategy: how does it work, who are the players, and what are the career opportunities? Today we are discussing the structure of the Credit Strategy desk at an Investment Bank with Dominique Toublan, head of US Credit Strategy at Barclays Capital. We discuss how you approach the vast world of corporate bonds and distill trends as a strategist, how you reconcile investor sentiment with supply/demand dynamics, and what role are you serving within the ecosystem of Wall Street. The US Credit market --- meaning, where corporate bonds trade after they've been issued --- is orders of magnitude larger than the US Equities market. Credit spreads, which are a measure of the riskiness associated with the debt of an individual corporate borrower, are a critical barometer of economic strength/weakness and investor risk appetite. Understanding these dynamics is essential not only to those who wish to pursue a career in credit strategy, trading, or sales, but also for those who wish to understand the Private Credit markets and the funding dynamics that influence deal making and investment on the Private Equity and Hedge Fund side of the industry. The Funds4Teachers event is happening the dates below: Locations/Dates Atlanta - Apr 25 Boston - June 6 Chicago - June 18 New York - Sep 26 To learn more about how to support this initiative and register click here: https://iconnections.io/funds4teachers/ Follow us on Instagram and Tik Tok at @thewallstreetskinny https://www.instagram.com/thewallstreetskinny/

In today's episode we give you the Skinny on PCE (Personal consumption expenditures), we define "Risk Off", we chat about the news that Kim Kardashian has only raised $120mm of her $1-$2Bn target for her Skky Partners PE fund, talk Netflix and Meta earnings and finally share our take on the TikTok ban. The Funds4Teachers event is happening the dates below: Locations/Dates Atlanta - Apr 25 Boston - June 6 Chicago - June 18 New York - Sep 26 To learn more about how to support this initiative and register click here: https://iconnections.io/funds4teachers/ Follow us on Instagram and Tik Tok at @thewallstreetskinny https://www.instagram.com/thewallstreetskinny/

So many finance hopefuls dream of a career in Private Equity. But what do you actually DO during your internship, starting out as a full-time Analyst, or as an Associate? How do those roles differ at a mega fund vs. a smaller firm? Are there advantages to starting out in Private Equity vs. doing a tour of duty at an Investment Bank or MBB consulting firm? We sat down with Karina Petrunova, a current Private Equity Associate at Charles Thayne Capital, a lower middle market fund with a software & technology focus, to learn about her path to Private Equity. She shares the specific steps she took to secure her first Wall Street internship during her sophomore year, her junior year internship, and ultimately her role at Vista Equity (a $100bn+ mega fund) out of undergrad. Karina shares insight into the practices that made her a successful intern, analyst, and associate, as well as into her decision making process behind why she chose the firms she did. If you are considering a career in Private Equity, or want to understand the journey that your friends and loved ones in the industry may be on, this episode is a MUST listen. The Funds4Teachers event is happening the dates below: Locations/Dates Atlanta - Apr 25 Boston - June 6 Chicago - June 18 New York - Sep 26 To learn more about how to support this initiative and register click here: https://iconnections.io/funds4teachers/ Follow us on Instagram and Tik Tok at @thewallstreetskinny https://www.instagram.com/thewallstreetskinny/

In this week's episode we talk about the market's response to geopolitical risks, Jane Street's atypical transparency around Q1 earnings ahead of their bond issuance, and what to do if you get laid off from your Wall Street job. The Funds4Teachers event is happening the dates below: Locations/Dates Atlanta - Apr 25 Boston - June 6 Chicago - June 18 New York - Sep 26 To learn more about how to support this initiative and register click here: https://iconnections.io/funds4teachers/ Follow us on Instagram and Tik Tok at @thewallstreetskinny https://www.instagram.com/thewallstreetskinny/

Want to understand commercial real estate investing? Real estate banking? What about starting your own investment bank? Or succeeding in the upper echelons of finance while raising young children? How about ALL OF THE ABOVE? We are joined today by Deborah Smith, CEO and co-founder of a boutique investment bank specializing in real estate advisory, to explore the 101s of CRE investing and deal making, as well as the monumental challenge of starting your own investment bank. We also continue our conversation up and down the corporate ladder on the question of female mentorship. Deb is a force of nature. She shares her story of how she went from a dairy farmer in Australia to the most elite banking group at Morgan Stanley to Wall Street CEO (all while raising three young children, no less), living life according to her personal philosophy of "the universe doesn't owe you anything". Her brilliance, moxie, and humor make this a MUST LISTEN for anyone interested in real estate, investment banking, or trying to balance work and family life in the world's most competitive environments. The Funds4Teachers event is happening the dates below: Locations/Dates Atlanta - Apr 25 Boston - June 6 Chicago - June 18 New York - Sep 26 To learn more about how to support this initiative and register click here: https://iconnections.io/funds4teachers/ Follow us on Instagram and Tik Tok at @thewallstreetskinny https://www.instagram.com/thewallstreetskinny/

In our latest edition of our new weekly markets breakdown, we cover yesterday’s CPI release and its impact on the interest rates, credit, and equity markets. With earning’s season kicking off, we explain how to frame your thinking about earnings releases as you start to think about how these moves in the market translate into corporate valuations and projections going forward. We also share some feedback we’ve received on our “unwritten rules” for success on Wall Street and wax philosophical on the importance of cultivating resilience. The Funds4Teachers event is happening the dates below: Locations/Dates Atlanta - Apr 25 Boston - June 6 Chicago - June 18 New York - Sep 26 To learn more about how to support this initiative and register click here: https://iconnections.io/funds4teachers/ Follow us on Instagram and Tik Tok at @thewallstreetskinny https://www.instagram.com/thewallstreetskinny/

Guy Adami is an original member of CNBC's Fast Money. Guy began his career at Drexel Burnham Lambert as a commodity trader on their precious metals desk. In 1996 he joined J. Aron, the famed commodity and currency group at Goldman Sachs where he was their head gold trader. In 2021, Guy, along with Dan Nathan, started RiskReversal Media. In addition to Fast Money, Guy and Dan have a daily show called MRKT Call and a weekly podcast called On The Tape that they do with Danny Moses of The Big Short Fame. Guy trys to stay active in his community. He was on the board of the NJ Chapter of The Leukemia & Lymphoma Society for ten years where he served as co-chair. In August of 2012, Adami completed the first NYC Ironman on behalf of LLS in 16 hours and 19 minutes. He was the LLS NJ Man of the Year in 2015. Guy was also on the national board of Invest in Others as well as Big Brothers Big Sisters of America. In November 2022, he was inducted into the Tri County Scholarship Fund Hall of Fame. Guy is a 1986 graduate of Georgetown University. He and his wife Linda reside in Morristown, NJ where they raised their three children. The Funds4Teachers event is happening the dates below: Locations/Dates Atlanta - Apr 25 Boston - June 6 Chicago - June 18 New York - Sep 26 To learn more about how to support this initiative and register click here: https://iconnections.io/funds4teachers/ Follow us on Instagram and Tik Tok at @thewallstreetskinny https://www.instagram.com/thewallstreetskinny/

We're mixing it up with new weekly episodes where we give you the skinny on what's happening in the markets and big deals in the news, and explain why that matters TO YOU. Topics today include the Non-Farm Payrolls Report and the unwritten rules of how to behave in order to succeed in finance. Let us know if you want more episodes like this by emailing your thoughts to questions@wallstreetskinny.com! The Funds4Teachers event is happening the dates below: Locations/Dates Atlanta - Apr 25 Boston - June 6 Chicago - June 18 New York - Sep 26 To learn more about how to support this initiative and register click here: https://iconnections.io/funds4teachers/ Follow us on Instagram and Tik Tok at @thewallstreetskinny https://www.instagram.com/thewallstreetskinny/

The Wall Street Journal recently published an article titled "Women Aren't Getting the Big Jobs at Goldman Sachs, and They're Heading for the Exits" (linked below). That same day, we were asked by our social media community whether our best managers were male or female when we were working at investment banks. Our answer? Male. We received HUNDREDS of messages from our community --- from mostly women --- saying their experience with female managers on Wall Street was overwhelmingly negative. So we wanted to have a frank, open discussion of these two distinct but very related topics in a public forum to discern what the nature of the problem is and to try and suggest possible solutions. We are joined by two amazing women for this conversation: Carissa Jordan and Nikki Boulukos, currently the co-founders of Benjamin Talks, a company on a mission to facilitate financial literacy for people of all ages starting with children. Carissa and Nikki started their careers in Fixed Income and Equities Sales & Trading at Goldman Sachs, and rose through the ranks before exiting for individual reasons we will discuss. This will be the first of many conversations with women ranging from the junior most levels all the way to the C-suite. Anyone working on Wall Street or planning on a career in the industry needs to listen to this episode. https://www.wsj.com/finance/investing/goldman-sachs-women-big-jobs-leaving-09112f6a Nikki Boulukos is Co-Founder and Co-CEO of Benjamin Talks Carissa Jordan is Co-Founder and Co-CEO of Benjamin Talks The Funds4Teachers event is happening the dates below: Locations/Dates Atlanta - Apr 25 Boston - June 6 Chicago - June 18 New York - Sep 26 To learn more about how to support this initiative and register click here: https://iconnections.io/funds4teachers/ Follow us on Instagram and Tik Tok at @thewallstreetskinny https://www.instagram.com/thewallstreetskinny/

Ever wondered what global macro trading looks like at the world's most elite hedge funds like Citadel, Balyasny, and Bluecrest? You might imagine you'd need a tremendous grasp of the markets, an ability to analyze and interpret massive amounts of data & research, and a talent for identifying the optimal vehicles for expressing your views. Now imagine doing all of this...without being able to SEE. We are joined an incredibly special guest for our one-year podcast anniversary: global macro investor Ashish Goyal. Over the past 15 years, Ashish has managed portfolios for marquee hedge funds and institutions such as Citadel, BlueCrest, Balyasny, and J.P. Morgan CIO. Ashish has the dual distinctions of not only being the world’s first visually impaired graduate of The Wharton School, but also the world’s first visually impaired investor-trader on Wall Street. More importantly, Ashish has been honored with India’s highest civilian award for a disabled individual – the National Award for the empowerment of persons with disability by the President of India and has also been recognized as a Young Global Leader by the World Economic Forum. Ashish also serves on the Board of The Inclusion Initiative at the London School of Economics (LSE) in the UK and the Rising Flame in India. In the past, he has served on the Board of the Peek Vision Foundation in the UK, has passionately supported Theatre and Arts, and has represented the winning team in the UK domestic blind cricket tournament at the London Metro Club. Ashish embodies an overflowing spirit of a holistic and balanced life. A practitioner of meditation and a believer in human ingenuity, Ashish continues to support passionate and dedicated charities addressing education, disabilities, human rights, sports, environment, and the Vedic Sciences. He has served as a motivational speaker at various venues – at the London Stock Exchange, at the World Economic Forum in Davos, and at the Sohn Charity Conference to name a few. The Funds4Teachers event is happening the dates below: Locations/Dates Atlanta - Apr 25 Boston - June 6 Chicago - June 18 New York - Sep 26 To learn more about how to support this initiative and register click here: https://iconnections.io/funds4teachers/ Follow us on Instagram and Tik Tok at @thewallstreetskinny https://www.instagram.com/thewallstreetskinny/

Today is part II of our "intro to crypto" series. We're back with Chris Newhouse to discuss breaking into careers in the digital currency space, the evolution of both layer I and layer II technologies within the defi ecosystem, derivatives trading and the evolution of new platforms to support broader institutionalized moneymaking opportunities. A great conversation for anyone who is interested in understanding crypto trading mechanics, curious in how to start a career in the industry, or wondering whether the crypto culture in real life bears any resemblance to the wild stuff you might see on social media! The Funds4Teachers event is happening the dates below: Locations/Dates Atlanta - Apr 25 Boston - June 6 Chicago - June 18 New York - Sep 26 To learn more about how to support this initiative and register click here: https://iconnections.io/funds4teachers/ Follow us on Instagram and Tik Tok at @thewallstreetskinny https://www.instagram.com/thewallstreetskinny/

Bitcoin is at an all-time high. New digital currency ETFs are coming to the market, broadening access to and increasing the legitimacy of an asset class that very few people truly understand. So we quickly caught up with our cryptocurrency expert Christopher Newhouse, DeFi Analyst at Cumberland Labs, to ask: what the heck is going on in crypto?? In this episode, we discuss not only the current state of the market, but also give listeners a bit of a crash course in how these cryptocurrencies are used, the scope of the ecosystem, and a quick explainer on the differences between some of the big names you may have heard of. This is part one of a two part series. Next week we will bring Chris back on for a deeper dive into the evolution of careers in the crypto space, layer two economies, and the institutional framework supporting the future of crypto trading. The Funds4Teachers event is happening the dates below: Locations/Dates Atlanta - Apr 25 Boston - June 6 Chicago - June 18 New York - Sep 26 To learn more about how to support this initiative and register click here: https://iconnections.io/funds4teachers/ Follow us on Instagram and Tik Tok at @thewallstreetskinny https://www.instagram.com/thewallstreetskinny/

Managing the wealth of the world's richest clientele is an exciting, prestigious, high stakes business. We sat down with Tony Abbiati, CEO of SCS Financial, an ultra high net worth private wealth management firm to understand the business model of RIAs (Registered Investment Advisors) vs. banks and broker dealers, the demands and challenges of these clients, the path to breaking into the business and achieving success, and the crazy things you may have to do in the name of client service! Tony co-founded SCS Financial Services in 2002. He has over 22 years of experience in the investment business. Prior to SCS, he was a Vice President in the Private Wealth Management Group of Goldman Sachs. Tony began his career at Biogen, Inc. as a process engineer. Tony is actively involved in Year Up, a Boston based non-profit focused on empowering urban young adults. Tony earned a BA in Biochemistry from Bowdoin College and an MBA from Duke University’s Fuqua School of Business. The Funds4Teachers event is happening the dates below: Locations/Dates Atlanta - Apr 25 Boston - June 6 Chicago - June 18 New York - Sep 26 To learn more about how to support this initiative and register click here: https://iconnections.io/funds4teachers/ Follow us on Instagram and Tik Tok at @thewallstreetskinny https://www.instagram.com/thewallstreetskinny/