The Wall Street Skinny – Détails, épisodes et analyse

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Today we are joined by Dan Nathan, CNBC Fast Money superstar and co-host of podcasts On the Tape, OK Computer, and Market Call.  After three decades in the industry on both the buy side (at legendary hedge funds like SAC) and the sell side (at firms like Merrill Lynch), Dan is an expert on the equity markets and options trading.  Dan shares his insight into the evolution of the equities trading business, the insider secrets of what it’s like being a pundit talking about the markets on TV every day, and a crash course in equity options 101.

We walk through the basic mechanics of incorporating simple strategies like puts, calls, straddles, and costless collars or risk reversals into a basic long equities position.

We also talk about trading philosophies in general --- how both retail and institutional investors have shifted their approach in the past few years, how to formulate and argue a thesis every day on national television, and how AI may change the landscape going forward.

To listen to Dan's podcasts, check out Risk Reversal Media's offerings here:  https://www.youtube.com/@RiskReversalMedia/podcasts

Watch him weeknights on CBNC's Fast Money:  https://www.cnbc.com/fastmoney/

And check out his new podcast MRKT Matrix here:  https://podcasts.apple.com/us/podcast/mrkt-matrix/id1747214891

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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.

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Today’s episode is for all of you buy side and private markets junkies.  We are joined by Ted Seides, who is the host of the Capital Allocators and Private Equity Deals podcasts, soon to be thrice-published author, and expert in the Alts — the world of hedge funds and private capital investing.

One of Ted’s superpowers is understanding both sides of the alts investing coin. He started his career working with David Swensen at the Yale endowment and ultimately went on to lead his own multibillion dollar alternative asset manager before segueing into his current role as a thought leader and advisor amongst the biggest names in hedge funds and private equity.  You may also have heard of him from a little friendly wager he made with Warren Buffet a few years back.  

For those of you who want to break into the Alts, you must listen to the lessons Ted has gleaned from years of conversations with the heads of the worlds’s biggest investment firms.  So whether you’re a seasoned investor looking for a path to branch out on your own, or you’re an industry newcomer looking to understand key takeaways from some of the all time greatest deals, this episode’s for you.

Pre order Private Equity Deals on Amazon at https://www.amazon.com/Private-Equity-Deals-dealmaking-professionals/dp/1804090735

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Our Investment Banking and Private Equity Foundations course is LIVE
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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.

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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.  

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Our Investment Banking and Private Equity Foundations course is LIVE
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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.

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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.  

For a 14 day FREE Trial of Macabacus, click HERE

Our Investment Banking and Private Equity Foundations course is LIVE
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Shop our LIBRARY of Self Paced Online Courses HERE
Join the Fixed Income Sales and Trading waitlist 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.

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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/

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Our Investment Banking and Private Equity Foundations course is LIVE
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Shop our LIBRARY of Self Paced Online Courses HERE
Join the Fixed Income Sales and Trading waitlist 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.

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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. 

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Our Investment Banking and Private Equity Foundations course is LIVE
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Join the Fixed Income Sales and Trading waitlist 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.

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Our long-awaited third season recap of the hit show "Succession" is HERE!  Even if you watched the show and loved it, you might not have understood all of the finer points when it comes to the scheming and negotiations at WayStar Royco.  We are here to break down the key corporate finance plot points driving the drama. 

This season has SO many great finance topics to explore, including merger of equals, company valuations, and much more!  We delve a bit into the real deals that inspired and are referenced in the show, and of course get into the drama and humor of our favorite characters.

For a 14 day FREE Trial of Macabacus, click HERE

Our Investment Banking and Private Equity Foundations course is LIVE
now with our M&A course included!

Shop our LIBRARY of Self Paced Online Courses HERE
Join the Fixed Income Sales and Trading waitlist 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.

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Happy 4th of July!  We wanted to discuss an article from Fortune Magazine that's been making the rounds, where the COO of Blackrock said "We have more and more conviction that we need people who majored in history, in English, and things that have nothing to do with finance or technology" (article linked below).  We discuss the pros and cons of coming to finance with a background in the humanities, especially in the context of how AI will impact jobs at junior levels in different ways. 

We also took a trip down memory lane to celebrate the 19th anniversary of Kristen's calamitous, yet ultimately fortuitous, visit to NYC to visit Jen during her junior year summer internship. 

https://fortune.com/2024/05/17/blackrock-coo-robert-goldstein-english-history-liberal-arts-hiring/

For a 14 day FREE Trial of Macabacus, click HERE

Our Investment Banking and Private Equity Foundations course is LIVE
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Shop our LIBRARY of Self Paced Online Courses HERE
Join the Fixed Income Sales and Trading waitlist 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.

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Our long-awaited third season recap of the hit show "Succession" is HERE!  Even if you watched the show and loved it, you might not have understood all of the finer points when it comes to the scheming and negotiations at WayStar Royco.  We are here to break down the key corporate finance plot points driving the drama. 

This season has SO many great finance topics to explore, including LBOs, company valuations, termination fees in a merger, EPS juicing, and much more!  We delve a bit into the real deals that inspired and are referenced in the show, and of course get into the drama and humor of our favorite characters.

We have so many things to cover that we made this a two-part episode!  Stay tuned for part II next week...

For a 14 day FREE Trial of Macabacus, click HERE

Our Investment Banking and Private Equity Foundations course is LIVE
now with our M&A course included!

Shop our LIBRARY of Self Paced Online Courses HERE
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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.

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We get asked every day by listeners of ALL ages, "am I too old to start a career in finance??"  When you ostensibly need to have internships on your resume by the time you are 19 years old, and when on-cycle PE recruiting starts before new college grads even set foot in IBD training, it's easy to feel that way.  But on the flipside, young people are often dismissed as inexperienced and excluded from the big conversations when their age is deemed to be a negative.  So, let's talk about age in the industry. 

We have a special crossover episode for you today with tech industry expert and TWSS bestie Maureen Wiley Clough, the host of "It Gets Late Early", a podcast devoted to exploring themes of age and experience in the tech world.  We discuss age related hiring issues across the spectrum of elite jobs like tech and high finance, share personal stories, and outline specific tips for breaking into the industry at older ages.

If you don't already listen to "It Gets Late Early", subscribe here:  https://podcasts.apple.com/us/podcast/it-gets-late-early-career-tips-for-tech-employees-in/id1676637848?i=1000660173447

Follow Maureen Wiley Clough on IG @maureenwclough

For a 14 day FREE Trial of Macabacus, click HERE

Our Investment Banking and Private Equity Foundations course is LIVE
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Shop our LIBRARY of Self Paced Online Courses HERE
Join the Fixed Income Sales and Trading waitlist 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.