Market Maker

Latest Episodes:

The Deal Room: Sovereign Wealth Funds ❤️ Private Equity Dec 04, 2023

Show notes

In this podcast episode, we explore the world of sovereign wealth funds: who they are, why they exist, and how they operate, as well as understand the fascination of Norway's largest fund with private equity firms.

Additionally, we delve into the recent announcement that the Saudi Public Investment Fund (PIF) and the European private equity heavyweight Ardian are set to purchase a 25% stake in Heathrow Airport for £2.4bn and discuss Barclays Bank's considerations for a strategic overhaul in the UK.

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MM134: Elon Musk publicly tells advertisers to 'go f*** yourselves' Dec 01, 2023

Show notes

In this podcast episode, we take stock on the past month when the S&P 500 finished up 8.9%, for its second-best November since 1980.

We explain what was behind the move higher, who the big winners were, and what major Wall Street banks think will come next.

In other news, Elon Musk publicly tells advertisers to 'go f*** yourselves', but what's behind the latest outburst from the world's richest man? And is this part of a bigger plan to restructure X debt?

Finally, Opec+ members have agreed to make additional voluntary cuts to oil production in 2024 to bolster the market, however, oil traders aren't buying it. Is OPEC's rule coming to an end?

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Connect with Anthony https://www.linkedin.com/in/anthonycheung10/

Connect with Piers https://www.linkedin.com/in/pierscurran/

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M&A Explained Part 4: Buy-to-build strategy & vertical integration Nov 27, 2023

Show notes

In the final episode of this 4-part mini-series, we use Hotel Chocolat, Mars, McDonald's, Broadcom, and VMware to bring some classic M&A theory to life!

From buy-to-build strategies and vertical integrations to buying back core assets in the private equity world, if you are looking to pursue a career in banking this is the episode for you.

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MM133: Did Sam Altman engineer his own exit to gain control of OpenAI? Nov 24, 2023

Show notes

It's been a remarkable week at Open AI!

In a series of unforeseen events, the founder was fired, took a brief stint at Microsoft, and then made a dramatic return to the helm of the company he originally created.

This whirlwind of changes begs several questions: What were the reasons behind his initial termination? Who is currently in charge of OpenAI's board of directors? And can we dismiss the possibility that these events were part of a deliberate plan?

Meanwhile, in markets, hedge funds that placed their bets against the US and European stock markets are reeling from a staggering $43bn in losses following an unexpected market rally.

We delve into the sectors most affected and why. Additionally, we demystify the mechanics of a short squeeze and discuss the inherent risks of relying on algorithmic trading as a guaranteed profit strategy.

Black Friday competition to win two fully sponsored places on the AmplifyME Summer Analyst Training Programme https://www.linkedin.com/feed/update/urn:li:activity:7133742770585788417

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MM132: Inflation drop sends stocks higher & Michael Burry's new 'Big Short' Nov 17, 2023

Show notes

It's the end of the week, so time to catch up on some of the major themes in focus:

Why US and UK inflation has fallen, how markets reacted, and why Morgan Stanely and Goldman Sachs disagree on what comes next!

Infamous hedge fund manager Michael Burry of the 'Big Short' takes a new bet on the decline of semiconductors and what's going on with Warren Buffett's portfolio

Thoughts on the meeting between US President Biden and China's Xi Jinping and the UK Prime Minister gives it one last throw of the dice in a major cabinet reshuffle

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Connect with Anthony https://www.linkedin.com/in/anthonycheung10/

Connect with Piers https://www.linkedin.com/in/pierscurran/

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M&A Explained Part 3: Buying to boost ESG & Cashing in from underperforming companies Nov 16, 2023

Show notes

In the third episode of this four-part mini-series on M&A, we take a look at ESG through the lens of the latest Glencore deal to buy the coal division of Canada’s Teck, grab a quick Joe & the Juice as private equity money looks to cash in and explore why Germany are looking to acquire Dutch owned Tennet to sure up their national security.

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M&A Explained Part 2: Three Reasons For Making Acquisitions Nov 10, 2023

Show notes

In the second episode of this four-part series, we look at the different reasons that drive the decision to acquire another company.

Whether it be to gain political influence, or to make the most of potential revenue and cost synergies, we'll examine each scenario incorporating real-life examples so it's super easy to understand!

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MM131: Is Bitcoin heading to $150,000?! Nov 03, 2023

Show notes

Last week, the price of Bitcoin reached $35,000, its highest level since May 2022. So why has the cryptocurrency woken from its slumber and how far can this recent rally go?

Also, in this week's podcast episode:

FTX founder Sam Bankman-Fried has been convicted of fraud and money laundering by a New York jury and is set to face up to 110 years in prison!

Apple's latest earnings disappoint but why context is important when looking at their long-term performance

US stocks rally sharply this week as US yields dropped on a dovish pivot from the US Federal Reserve

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Connect with Anthony https://www.linkedin.com/in/anthonycheung10/

Connect with Piers https://www.linkedin.com/in/pierscurran/

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M&A Explained Part 1: Economies of Scale & Reacting to Competition Nov 01, 2023

Show notes

Over the next four episodes, we will use the latest deal announcements to better understand why M&A happens.

We will look at textbook (and non-textbook) deal rationale for acquiring, and selling, which will help you nail interviews and assessment centres.

Each week we will look at three key reasons why a company might go on the hunt for acquisitions, and one reason why a company might be ready to sell.

In the first episode of the series, we will be looking at Economies of Scale and Reacting to Competition – using Shein’s acquisition of Missguided and Google’s $2bn investment in AI company Anthropic.

We will also be looking at the recent wave of mega deals in the Oil and Gas sector to see how the weight of cold-hard cash acts as a reason to go out and find some acquisitions.

Finally, we will be using Intel and Blackberry to discuss the logic of spinoffs and the rationale behind selling the family silver.

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MM130: Microsoft's AI edge & Chevron's biggest M&A deal ever Oct 27, 2023

Show notes

In this podcast episode, we take a deep dive into the numbers of Microsoft and Alphabet (Google) who had a mixed reception on Wall Street as the AI battle rages and Cloud competition remains fierce.

The conversation then pivots to more mega-deals in the US energy sector as Chevron looks to buy US oil and gas producer Hess Corporation in a $53bn all-stock deal.

Find out why a little country in South America holds the key for major oil corporations in the US.

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Connect with Anthony https://www.linkedin.com/in/anthonycheung10/

Connect with Piers https://www.linkedin.com/in/pierscurran/

Hosted on Acast. See acast.com/privacy for more information.