The Wall Street Skinny

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92. Mars Deal & Google Monopoly Aug 14, 2024

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Today we chat about the WSJ article: "How Bank of America Ignores Its Own Rules Meant to Prevent Dangerous Workloads".

https://www.wsj.com/finance/banking/bank-of-america-worker-death-policies-89eff5f6
We get into the announced Mars acquisition of Kellanova, as well as who the heck Kellanova is, what a spin off is, why the deal was likely done all cash. And finally we chat about the lessons we can learn from the Microsoft monopoly ruling in the early 2000s as they apply to a judge finding that Google is a monopoly.

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91. How to Network Like a Pro, feat. Jen Prosek, Founder and Managing Partner of Prosek Partners Aug 10, 2024

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Today is a masterclass in networking, reputation management, and personal brand building from one of the most successful, highly sought-after minds in the business: Jen Prosek, the founder and CEO of Prosek Partners.
The daughter of immigrants, Jen shares her inspiring story about becoming a go-to consigliere for the male-dominated industry of hedge funds, private equity firms, and investment banks as a female English major without a preexisting network of her own.
Jen outlines steps for building your personal brand, explains how to network throughout all stages of your career (from college student to CEO), and advises on how to handle the inevitable "stubbed toe" from a reputational standpoint.
She also teaches us how to build an entrepreneurial mindset, a subject on which she has written two books (linked below). And finally, Jen answers the age-old question: is all press good press?
Whether you are prepping for fall recruiting season, looking to level up in your career, or seeking to understand the "emerging market frontier of marketing" that's taking place in the private capital and alternative investment space, this episode is a MUST LISTEN.
Subscribe to Jen's LinkedIn newsletter here: https://www.linkedin.com/newsletters/leading-in-volatile-times-6714926252211376128/
Check out Jen's books on entrepreneurship here: https://a.co/d/fMVA6Gk and here: https://a.co/d/dJ9RLVF
Learn more about Prosek Partners here: https://www.prosek.com

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Investment Banking & Private Equity Fundamentals HERE
Fixed Income Sales & Trading HERE

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90. The Skinny On Panic (!) in the Markets, Ackman's Canceled IPO, and Ballerina Farm Aug 06, 2024

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Our second weekly episode where you get THE SKINNY on whatever's happening in the markets, big deals in the news, and pop culture with us, The Wall Street Skinny. In this episode, we explain the collapse of the yen carry trade after the faster than expected rate hike from the Bank of Japan coupled with the weaker than expected US Non-Farm Payrolls report last week, which triggered the Sahm Rule signaling a recession. We also touch on Bill Ackman's canceled IPO, and the scandal around the social media phenomenon of TikTok star "Ballerina Farm".

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Investment Banking & Private Equity Fundamentals HERE
Fixed Income Sales & Trading HERE

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89. The Real Life “Billions": Equity Long/Short Hedge Fund Legends feat. Kat Sosnick Aug 03, 2024

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We had the incredible opportunity to sit down with Kat Sosnick, a woman whose impressive career spans three decades running portfolios of up to a billion dollars at some of the world’s most legendary Equity Long/Short Hedge Funds, including Tiger Management, Pequot, and Perry Capital. Kat is a specialist in the consumer retail space, and shares stories with us of how she applied her passion for investigative journalism to doing “grassroots” analysis at the core of her investment theses. Kat gave us the scoop on how she decided to invest in winners like Costco and Amazon, how she earned the nickname "The Grim Reaper" for her fearless shorts of other companies, how she beat stage four cancer and navigated motherhood in one of the most secretive and notoriously male dominated segments of high finance, and how she combats imposter syndrome in her current coaching business. She tells us how she had to stop watching "Billions" because it hit too close to home!
Whether you are considering a career as an investor or simply want the inside scoop on some of the most prominent hedge funds of all time, you'll want to listen to Kat's invaluable advice gleaned from decades of personal experience.
*Correction: the Investment Banker mentioned in the context of the Jeff Bezos meeting was at Deutsche Bank, not Morgan Stanley.
Follow Kat on LinkedIn at https://www.linkedin.com/in/katsosnick?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=ios_app
and check out Greene Street Coaching here:
https://greenestreetcoaching.com/

Shop our Self Paced Courses:

Investment Banking & Private Equity Fundamentals HERE
Fixed Income Sales & Trading HERE

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88. Equity Long / Short Hedge Funds 101 Feat David Semenza, Co-Founder of Islander Capital Partners Jul 27, 2024

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Today we dive into Long / Short Equity Hedge Funds with David Semenza of Islander Capital Partners. We get into what an equity long short hedge fund is, how it differs from other types of hedge funds, how leverage factors in, what makes a good public equity investor, how it differs from private equity and so much more.
Islander Capital Partners is a Long/Short equity fund that was started by David Semenza and Jordan Martinez. The fund spun out of Matrix Capital in 2023, and is focused on the Technology, Media, and Telecom sectors.

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Investment Banking & Private Equity Fundamentals HERE
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87. The Skinny On...Will Private Equity Take Down the Global Economy & More Jul 26, 2024

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The Skinny On...
1. Will Private Equity Take Down the Global Economy.
We discuss the FT article from Wednesday, 7/24/24 titled "How private equity tangled banks in a web of debt | Complex layers of leverage could pose a threat to the global economy". Read it here:
https://ig.ft.com/private-equity/
2. Equity Markets Down and Factor Rotation
3. What we wish we knew before starting on Wall Street
4. Drama between Rupert Murdoch and his kids Succession

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Investment Banking & Private Equity Fundamentals HERE
Fixed Income Sales & Trading HERE

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86. Private Credit 101: Asset-Based Lending Feat. Keri Findley, Founder and CEO of Tacora Capital Jul 20, 2024

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We are kicking off our multi-part foray into the world of Private Credit --- arguably the most talked-about investment vertical of 2024 --- with brilliant and hilarious Keri Findley, founder and CEO of Tacora Capital. If you're interested in learning about Securitized Products, prestigious exit opportunities from the Sales, Trading, & Research division of an Investment Bank, or the career path towards landing a job in Private Credit, this episode is a MUST LISTEN.
Keri is our first guest who has a background in Securitized Products, and she has a superpower of being able to explain complex concepts in a simple way. Keri walks us through her early career in ABS CDO research at Morgan Stanley, her quick exit to the buyside --- where she was a Portfolio Manager at Third Point in her mid-20s (!!) --- and the journey of starting her own Private Capital Firm.
With Keri, we also explore the themes of how blurred the lines can be between our personal and professional lives on Wall Street. Her candid discussion of what she did to fit in early on in her career, how she handles gossip and negativity, and her decision to have her employees sign prenups on their carry illuminates the complexities of being a senior female investor in today's world.

Shop our Self Paced Courses:

Investment Banking & Private Equity Fundamentals HERE
Fixed Income Sales & Trading HERE

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85. The Skinny on Citadel White Label Sales & Trading Jul 18, 2024

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In today's episode, we discuss Citadel's potential white label offering of their Equities trading operations to investment banks --- discussed in this article as something to fill the gap of banks pulling back from Equities Sales & Trading: https://www.bloomberg.com/news/articles/2024-07-11/citadel-securities-crafts-plan-to-shake-up-banks-trading-desks
We also discuss the theoretical possibility that something similar might emerge in the Fixed Income space as well as capital requirements remain a challenge for banks. We know banks are continually thinking about how to strategically allocate balance sheet in light of a previous article discussing how they've already established a pattern of outsourcing balance sheet to the Private Equity & Private Credit realm.

Shop our Self Paced Courses:

Investment Banking & Private Equity Fundamentals HERE
Fixed Income Sales & Trading HERE

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84. How to Rob a Bank: Inside Financial Fraud Red Teams Jul 13, 2024

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Financial fraud is something we hear about ALL the time. It feels like there's a new headline about losses stemming from a hack at a financial institution constantly, and we've all seen shows like The Tinder Swindler where scams of individual consumers can have huge consequences.
The problem with most fraud prevention? It's backward-looking. By the time you solve one problem, criminals have found a new way to steal your money. We sat down with Greenway Solutions, a firm working to revolutionize the space not only for financial institutions, but also for their customers, via the use of "red teams". These red teams can at times sound like complex spy operations --- yet at other times are deceptively simple in their approach. We talk about the (terrifying!) magnitude of the financial fraud landscape, how it is changing in the face of AI and deepfakes, and some of the most surprising ways that fraudsters are staying ahead of conventional security measures.
To learn more about Greenway Solutions, please visit their website here: https://greenway-solutions.com
To connect with our podcast guests, you can find them on LinkedIn here:
https://www.linkedin.com/in/jerrytylman/
https://www.linkedin.com/in/pjs1969/
https://www.linkedin.com/in/katie-tylman-96b64720b/

Shop our Self Paced Courses:

Investment Banking & Private Equity Fundamentals HERE
Fixed Income Sales & Trading HERE

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83. The Skinny on the Paramount Deal Structure and Congressional Trading Jul 11, 2024

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This week on The Skinny On ("TSO") we dive into the Paramount deal structure and discuss insane returns by congress, as well as a new law that is looking to make trading on inside info in congress illegal.

Shop our Self Paced Courses:

Investment Banking & Private Equity Fundamentals HERE
Fixed Income Sales & Trading HERE

Subscribe to our Substack: https://substack.com/@thewallstreetskinny

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