The Wall Street Skinny

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32. Private Equity Recruiting 101 Feat. GoBuyside (Part 1) Oct 28, 2023

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Want to get an elite job on the buy side? A recruiter --- otherwise known as a headhunter --- plays a significant role in the recruiting process for private equity recruiting. In today's episode, we dive into the private equity recruiting process with Kate Kourlis and Cameron Boland of GoBuyside. We explain the role of recruiting firms, what to expect in the interview process, compensation, and how this process is evolving in real time.
Cameron Boland is the President of GoBuyside, and Kate Kourlis is the Executive Director of Business Development. GoBuyside is a community of professionals in the financial services industry. GoBuyside connects employers with top-tier talent, streamlining the hiring process and ensuring access to great candidates for exceptional roles.
Join the GoBuyside platform!
https://www.gobuyside.com/

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Investment Banking & Private Equity Fundamentals HERE
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31. Equity Capital Markets 101: The IPO Oct 21, 2023

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Whether you are an investment banker working with the hottest new tech start up to take it public, working in private equity and 'exiting' an investment, OR you're considering a role in a startup with the goal of one day hitting it big, you must understand the critical function of IPOs in the lifecycle of a company.
In today's episode we use two companies that exemplify the classic 'sponsor backed IPO;, Birkenstock, and a more 'techy' IPO, Instacart, to answer the questions:
- HOW and WHY would a company go public?
- What is the role of an investment banker in the process?
- What are the fees?
- What is the difference between primary vs. secondary shares?
- What is the difference between valuation and pricing?
- What is the purpose of the IPO discount?
- What is a greenshoe and why is it used?
And much much more!

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

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30. Consulting 101: Feat. Jane Licurse Oct 14, 2023

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In today's episode we break down everything you've ever wanted to know about consulting ranging from a day in the life, how do projects get staffed, what to expect in the interview and more. We also have an honest discussion about business school, burnout and more with former McKinsey consultant and Harvard Business School alum, Jane Licurse.
Jane Licurse is an Executive Coach (focusing on influencing through PowerPoint) and the Strategic Advisor to The City of Cambridge’s City Manager. She previously served as Executive Director of Strategy and Chief of Staff to Boston Medical Center Health System’s EVP (currently CEO). Before that she served healthcare clients as a strategy consultant at McKinsey & Company.
Jane received her MBA from Harvard Business School and BA and MS from Brown University in Biomedical Engineering.

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

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29. Q&A! The WACC, Interview Tips, Circularity in Models, and Essential Skills for Traders Oct 07, 2023

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Another listener favorite Q&A episode, where Kristen and Jen tackle real questions submitted by our listeners. We use these questions as teaching tools to explain concepts far beyond the scope of any individual question, so be sure to stay tuned to learn valuable insight about the world of Wall Street. Our questions in today's episode include:
1. How does changing the WACC (Weighted Average Cost of Capital) impact valuation when running a DCF (Discounted Cash Flow) analysis? What are the different theories of optimal capital structure and how does this all fit into the real world when companies are choosing whether to issue debt or equity?
2. How do I ace my interview in a markets-based job, like the sales and trading division of an investment bank?
3. Why do we need circularity in investment banking models?
4. How do I know when to stop "buying the dip" when trading the markets?
If you have any questions you'd like answered in a Q&A episode of our podcast, please write to us at questions@wallstreetskinny.com

Shop our Self Paced Courses:

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

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28. NYC Survival Guide: The Economics of Working on Wall Street Sep 30, 2023

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So you've finally landed your first job on Wall Street at an investment bank, consulting firm, hedge fund, private equity fund, asset manager, or venture capital fund....NOW WHAT?
Navigating the ins and outs of housing, transportation, clothes, food, and entertainment your first year on the job --- especially in New York City, the world's most expensive place to live --- can be incredibly daunting. We share what to expect, lessons learned, and helpful tips to set you up for success from day one.
(Disclaimer: nothing in this episode is intended as financial or tax advice, please consult a qualified tax professional)

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

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27. Venture Capital 101 Sep 23, 2023

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In today's episode we sit down with Camilo Acosta, founder & general partner of Perceptive Ventures, an early stage venture firm, and walk through everything you want to know about Venture Capital (“VC”). We cover differences between Angel Investing vs. VC, what a company needs for different series rounds (pre-seed, seed, series A, series B and beyond), how venture capital differs from Growth Equity, what it takes to get into the Venture Capital world, and much much more.
Camilo Acosta is the founder & general partner of Perceptive Ventures, an early stage venture firm focused on AI-first investments across the U.S. and Latin America. Prior to founding Perceptive, he built generative AI products at Meta used by millions of people. Before Meta, he built a machine learning based payments company that partnered with businesses worldwide before it was acquired in 2020. He holds a BA from Princeton University, and is based in San Francisco, California. You can follow him on Twitter @camilobacosta

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

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26. Valuation 101: How Do You Value a Company? Sep 16, 2023

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What is a company "worth"? We are tackling this question in a multi-part series, starting with valuation 101. We walk through the three primary methods of valuation: the discounted cash flow model ("DCF"), public comparables, and precedent transaction/acquisition comparables analysis....and explore how they fit together on what's called a Football Field. Also, we explore the meaning behind the jargon you hear about all the time ---Iike EPS and P/E ratios --- but might not fully understand!

Shop our Self Paced Courses:

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

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25. Fixed Income Investing 101 feat. Brian Weinstein Sep 11, 2023

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What is fixed income investing, how does it work, and what is the landscape like on the buy-side? We are proud to present one of our most exciting and high profile interviews EVER with Brian Weinstein, head of Fixed Income at Morgan Stanley Investment Management (MSIM). We discuss the current market environment, credit products, economic policy & inflation, and we ask the tough question: can the yield curve really predict the future? For anyone interested in exploring a job on the buy side, we talk about the path to a career, some of the key skills required, and what the relationship of portfolio managers and researchers looks like at one of the world’s biggest asset managers.
Brian Weinstein is the Head of Fixed Income and a member of the Operating Committee of Investment Management at MSIM. He joined the firm in 2018 from Blue Elephant Capital Management, a fintech focused private credit asset manager, where he was co-founder and CIO. Prior to that role, Brian spent 16 years at BlackRock, where he was the Head of Fundamental Institutional Fixed Income, overseeing $300 billion across multiple fixed income-based strategies. Brian earned a B.A. in history from the University of Pennsylvania.

Shop our Self Paced Courses:

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

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

24. Q&A: Treasury Stock Method, Relative Value Trading, The Yield Curve & More! Sep 02, 2023

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Welcome back to the Wall Street Skinny with Kristen and Jen! To kick off today's episode, we answer listener questions about:
Ownership and EPS (earnings per share) dilution when analyzing companies using the Treasury Stock Method in corporate finance. We unpack the concept of a relative value trade, specifically a high yield vs. investment grade trade in the credit derivatives market of CDS and CDX. Then we switch gears to discuss a single name credit analysis in the context of a rumored leveraged buyout by a private equity firm and the potential impact on a company's existing bond holders. And finally we dive into the concept of the yield curve, explaining how the term structure of interest rates not only reflects current monetary policy, growth & inflation expectations, and risk appetites...but also impacts nearly everything financial decision you make in your daily life!

Shop our Self Paced Courses:

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

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

23. Quant Trading, AI, and More feat. Dr. Harry Mamaysky Aug 26, 2023

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Wall Street's analytics and technology are evolving at a record pace. What are the roles of quantitative models, and AI in the financial services industry today? What does it mean to be a "quant", what is a "quant fund", and what quantitative skills are required for someone starting their career on Wall Street today? Will AI and algorithms help us become smarter, or send the best and brightest to the sidelines? We explore these questions and more with Professor Harry Mamaysky of Columbia University who is the co-founder of Quant Street.
Dr. Harry Mamaysky is a partner at QuantStreet Capital, which offers investing and portfolio management services to individuals, family offices, and businesses. Harry is also a Professor at Columbia Business School, where he is the Director of the Program for Financial Studies. Harry’s research focuses on the application of natural language processing and machine learning techniques to investing. Harry is a frequent industry and academic speaker. Prior to his time at Columbia, Harry spent many years in finance practice, rising to the position of senior portfolio manager at Citigroup, where he also served on the firm’s Risk Executive Committee. Harry was a professor at the Yale School of Management, which he joined after earning his PhD in Finance from the Massachusetts Institute of Technology. He holds BS and MS degrees in computer science and a BA in economics from Brown University.
If you have been inspired by this episode and want to follow Harry or learn more, you can find him at the links below.

https://www.linkedin.com/in/harry-mamaysky/ (LinkedIn)
www.quantstreetcapital.com (the firm website)
https://quantstreet.substack.com/ (Substack finance blog)
business.columbia.edu/faculty/people/harry-mamaysky ( Columbia page)
https://twitter.com/HMamaysky (Twitter or X)

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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