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The Wall Street Skinny
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This podcast is a smart and entertaining peek into the world of investment banking, sales & trading, private equity, hedge funds and more. Hosted by two lifelong friends with a passion for teaching, and over two decades of experience on Wall Street. Discover the basics, ranging from “what is investment banking?” to “what moves markets?". Learn about different roles and exit opportunities, and get tips on how to land the job. Our mission is to make the world of Wall Street accessible to everyone, while keeping things relatable and fun.
Whether your goal is to work on Wall Street, or if you have NO idea what any of those things are and just want to learn some basics, this podcast is for you.
156 Episodes
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Send us a text In this episode of The Wall Street Skinny, we explore the escalating tension between former President Trump and Fed Chair Jerome Powell, how markets reacted, and what it reveals about the importance of central bank independence. Jen also breaks down "Operation Twist"—a lesser-known but powerful Fed tool—and explains how it differs from traditional rate cuts or quantitative easing. Next, we turn to the U.S. dollar, which recently hit a three-year low. Why does a falling dollar ...
Send us a text This week, we break down the tension between Jerome Powell and Donald Trump—and what it actually means for monetary policy. If you listened to Powell’s latest remarks at the Economic Club of Chicago, you may not have thought much of it, but anyone knows how to decode the Fed’s deliberately vague words noticed unmistakably hawkish tone. We explain how to read between the lines of Fed speak, what it really means when the Fed prioritizes price stability over growth. We also get in...
Send us a text There has been some speculation that the reason for "chaos in the bond markets" isn't loss of confidence in the US but rather the result of an unwind in "the basis trade" leading hedge funds to blow up and causing yield spreads to widen. To explore this theory we need to get super granular. We go deep into the relationship between cash bonds, futures, and interest rate swaps—and explain why so many market participants prefer the derivatives over buying Treasuries outright...
Send us a text This week on The Wall Street Skinny, we’re diving headfirst into one of the most volatile weeks in recent memory—and we brought backup. After a whiplash-inducing reversal in the bond and equity markets, Jen and Kristen break down how the tariff announcements are rippling through rates, treasury auctions, and investor sentiment. From the Fed’s shrinking balance sheet to the rising fear that the U.S. may be losing its “flight to quality” status, we unpack what’s really happening ...
Send us a text This week on The Wall Street Skinny, we dive headfirst into the chaos that’s been roiling the markets—and specifically why what's happening in the bond market has investors spooked. Treasury auctions, bond yields, the dollar, and gold are all flashing red, and we break down exactly why. Kristen turns the mic to Jen, who spent nearly a decade on the interest rates desk at Morgan Stanley, Lehman, and Barclays, for an explainer on what exactly is going on in the bond markets and w...
Send us a text Markets are in chaos, which is why on this week’s episode Kristen and Jen ditch the interviews to break down what the hell is happening in markets right now. From tariffs to the dollar and everything in between, we’re unpacking the massive moves in equities, the near-trigger of the circuit breaker, and what April 2nd — aka "Liberation Day" — really means. We dive deep into the economic mechanics behind tariffs — what they are, how they work, and why they’re suddenly wreaking h...
Send us a text It's our special 150th episode!! We’re reuniting with billionaire investor and CEO David Adelman (whom you may remember from our “Sports Investing 101” episode) for a deep dive into his multifaceted empire and brilliant business acumen. David’s story is the stuff of legend. After making his first real estate investment with his bar mitzvah money at the age of 13, David ultimately rose to become CEO of Campus Apartments, followed by FS Investments and Darco Capital. ...
Send us a text Join hosts Jen and Kristen on The Wall Street Skinny for an insightful exploration of wealth management, as they sit down with Susan Moffatt, co-founder of Curated Wealth Partners, who expertly unpacks the intriguing differences between independent Registered Investment Advisors (RIAs) and prestigious wirehouses like JP Morgan and UBS. Susan provides an exclusive behind-the-scenes look at the multifamily office model and private wealth management, sharing her personal journey a...
Send us a text Sign up for our Talent Accelerator HERE today! Visit Vanta.com/wallstreet for $1,000 off Our Investment Banking and Private Equity Foundations course is LIVE: Or for our "Express Workout", our one hour top 5 technicals you must know for investment banking Masterclass, purchase for $49 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: A...
Send us a text In this episode, we sit down with Brian Kelly, aka The Points Guy, to break down the basics of optimizing your credit card strategy, especially for finance professionals and consultants who travel frequently, entertain clients, or rack up significant corporate expenses. We dive deep into: ✅ Choosing the Right Credit Card: The best cards for maximizing points on travel, dining, and business expenses—and why cash-back cards might not be your best bet. ✅ Making Your Corpora...
Send us a text Join us as we dive deep into the world of Entrepreneurship Through Acquisition (ETA) with our guest, Jesse Safir, President of ABG Print. In this episode, finance enthusiasts and budding entrepreneurs will find a treasure trove of insights about search funds, self-funded searches, and the nitty-gritty of buying and operating a small business. Jesse shares his journey from being an investment analyst to becoming the President of a printing company, shedding light on the decision...
Send us a text In this episode, we break down Season 2, Episode 6: "Short to the point of pain". The plot centers around FastAid, a company caught in the middle of a short squeeze reminiscent of GameStop’s 2021 rally. We analyze the mechanics of short selling, how hedge funds and institutional traders manage risk in volatile positions, and why liquidity and market perception play crucial roles in determining price action. The episode highlights how traders react to crowded short positions and...
Send us a text In this episode of The Wall Street Skinny, we sit down with one of the most legendary quant investors of all time—Pete Muller. As the founder of PDT Partners, one of the top performing quantitative hedge funds that spun out of Morgan Stanley, Pete shares his fascinating journey. He offers a behind-the-scenes look at how statistical arbitrage strategies drive market success, the importance of building a strong research-driven team, and why trust and collaboration are essen...
Send us a text Season 2, Episode 5 titled Kitchen Season, kicks off with a discussion on the intricacies of investment banking promotions, specifically focusing on the elusive Managing Director (MD) title. Kristen and Jen explore how promotions in finance are not linear and often depend on numerous factors including firm politics, desk performance, and the candidate's rockstar qualities. They dissect Rishi’s predicament, comparing the rapid ascent of star traders versus those who languish in ...
Send us a text In this episode of The Wall Street Skinny, we are beyond thrilled to welcome the incredible Karen Karniol-Tambour, Co-Chief Investment Officer of Bridgewater, the world's largest hedge fund. Karen is one of the most powerful and influential figures in finance today, regularly featured on Barron’s and Forbes' most influential lists. We recorded this conversation live at Global Alts, diving deep into market concentration risk, the evolving role of active vs. passive investing, an...
Send us a text In this jam-packed episode of the Unofficial Companion Podcast to HBO Max's Industry, we dive into Season 2, Episode 4, There Are Some Women. This week, we delve into the nuanced depiction of compensation negotiations, or "comp season," exploring the implications of Harper's bonus reveal and the significance of her $25 million contribution to PeerPoint. What does it mean to be "paid at the upper end of the band"? And why do analysts and associates have their bonuses capped, eve...
Send us a text In this episode of The Wall Street Skinny, Jen and Kristen dive deep into sports investing. They discuss the structural shifts driving new opportunities, including changes in private equity rules that now allow institutional players to invest in NFL teams. They also break down the cash flow mechanics behind major leagues like the NFL, NBA, and MLB—revealing why some leagues are financial juggernauts while others face stark disparities between high and low earners. The discussio...
Send us a text In this episode, we dive deep into HBO Max's hit show Industry Season 2, Episode 3, titled "The Fool." We unpack the intricate financial concepts and ethical dilemmas that drive the plot, exploring topics like block trades, private placements, proxy votes, insider trading, and more. We break down the logistics of block trades—massive transactions conducted outside public markets to minimize disruption—and how they differ from private placements, where securities are sold direct...
Send us a text As a follow-up to our prior conversations about finance and love, we sat down with celebrity divorce attorney Kristina Royce to delve further into the intersection of finances and relationships. We address questions that even some of the best minds in high finance may not know the answer to, like: - is common law marriage real? - what are the advantages and disadvantages to getting married and divorced in specific states? - how are alimony and child support determined? &n...
Send us a text In this episode of the unofficial companion podcast to HBO Max's hit show 'Industry,' Jen and Kristen delve deep into the financial intricacies presented in Season 2, Episode 2, titled 'Giant Squid.' They start by dissecting the concept of block trades, highlighting how institutions handle large stock transactions and the associated financial risk. The discussion ties this to a real-world example of a recent $2 billion block trade by Citi and the potential losses from su...
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Great podcast, it was interesting to listen to. I think books about cryptocurrencies and trading are great, but they are not suitable for real trading, especially for beginners. That's why I use https://nonbank.io/. I like the fact that I can connect a hardware wallet to my unbanked account, which provides offline storage of private keys and protection from online threats.