The Wall Street Skinny

by Kristen and Jen

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.

Episodes

39. LBO Deep Dive: Caesars Palace Coup (Part 1)

33m · Published 16 Dec 13:00

Private equity is one of the most coveted job opportunities on the buyside in the current market environment. In this episode, we do a deep dive into a Leveraged Buyout (“LBO”) using one of the largest, craziest deals in history: the $30bn LBO of Caesars Palace by Apollo and TPG. In part 1 of this 3-part series, we discuss the deal structure, explain the financing terms, and help you understand the motivations of the private equity titans at the helm of the world's biggest megafunds. We will walk you through the LBO from start to finish using Financial Times writer Sujeet Indap's fantastic book, Caesars Palace Coup.

38. Skinny Mini: Predicting the "Future" (Fed Funds Futures 101)

33m · Published 09 Dec 12:00

Interest rates drive everything in the markets, and expectations of rate cuts or hikes by the Fed can move the markets and make or break fortunes. But how do we know what 'the market' expects? In today's skinny mini we break down the simple truth behind where numbers like 'the market expects there is a 72% chance of a rate cut' comes from and why the current situation is wildly contradictary.

37. Recruiting for Private Equity and Hedge Funds 101 Feat. GoBuyside (Part 2)

1h 11m · Published 02 Dec 13:00

Part II of our conversation with Cameron Boland and Kate Kourlis from executive recruiting firm GoBuyside. Our focus shifts to off-cycle recruiting for private equity firms and hedge funds. We discuss strategies for navigating your search for your next career, identifying opportunities that set you up for success, do's and don'ts for negotiating the offer, and how recruiters are incentivized to help you succeed. We also tackle the CRITICAL listener question of: what do I need to know if I'm an international applicant and not a US citizen?

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.

To explore GoBuyside's platform, please visit GoBuyside.com

36. Wall Street Holiday Party Horror Stories

50m · Published 25 Nov 03:00

Happy holidays from The Wall Street Skinny! We are giving your brain a bit of a break this week. We share some fun stories of holiday parties gone terribly awry, rules for navigating vacation and time off, and tips on how NOT to get fired right before bonuses are paid. We discuss some shifts over the past decade and some prevailing attitudes toward work/life balance on Wall Street as societal expectations change.

35. Equity Capital Markets 102: SPACs, Failed IPOs & The WeWork Story

1h 14m · Published 18 Nov 12:00

In today's episode we use WeWork as a case study to break down SPACs, for a deeper dive into the IPO process, the bankruptcy and we explore how the world's most sophisticated venture capital and private equity investors came up with a $47bn valuation for a company when the math didn't justify it at all….

In order to keep it interesting we discuss the beginning of the WeWork story through the lens of "We Crashed", the Apple TV miniseries about WeWork.starring Jared Leto and Anne Hathaway.

The Apple TV Series: WeCrashed

The Failed IPO:
1. Scott Galloway Blogs (No Mercy No Malice)
https://www.profgalloway.com/wewtf/
https://www.profgalloway.com/wewtf-part-deux/

2. Aswath Damodaran DCF (Musings on the Market)
https://aswathdamodaran.blogspot.com/2019/09/runaway-story-or-meltdown-in-motion.html

3. WSJ Article Sept 2019
https://www.wsj.com/articles/this-is-not-the-way-everybody-behaves-how-adam-neumanns-over-the-top-style-built-wework-11568823827

SPAC
1. BowX Acquisition Corp S-1
https://www.sec.gov/Archives/edgar/data/1813756/000121390020020580/f424b40720_bowxacq.htm

2. WeWork SPAC Marketing Documents
https://www.wework.com/ideas/wp-content/uploads/sites/4/2021/03/WeWork-Management-Presentation-March-2021-vF-1.pdf

34. Sam Bankman-Fried, Jane Street, FTX & Crypto: The Skinny on “Going Infinite” by Michael Lewis

1h 13m · Published 11 Nov 13:00

A job in Private Equity isn't the highest paying or even the hardest to get... it's actually a job at high frequency trading firms like Jane Street, highly secretive Wall Street firms you've never heard of. So what actually takes place in those interviews and what do those traders even do?

In Michael Lewis's new book, Going Infinite: The Rise and Fall of Sam Bankman-Fried ("SBF"), Michael Lewis tells the absolutely crazy story of SBF, crypto, building his crypto exchange FTX, building his own trading firm Alameda Research, Effective Altruism ("EA"), the scandal that took him down leaving him with up to a 110 prison sentence AS WELL AS a sneak peek into these super secretive firms starting from the interview process to some of the craziest trades ever, including one election trade in 2016 that led to a $300mm loss.

Michael Lewis is the author of other quintessential books anyone who wants to work on Wall Street must read including The Big Short, Liar's Poker and others.

Resources mentioned in the episode:
1. Matt Levine's Bloomberg Essay: "The Only Crypto Story You Need"
https://www.bloomberg.com/features/2022-the-crypto-story/

2. Odd Lots Podcast:
https://podcasts.apple.com/us/podcast/odd-lots/id1056200096

Sam Bankman-Fried and Matt Levine on How the Crypto Market Really Works
https://podcasts.apple.com/us/podcast/sam-bankman-fried-and-matt-levine-on-how-the/id1056200096?i=1000531062191

33. The Ozempic Trade: "Health" and Body Image on Wall Street Feat. Lindsey Lusson

1h 3m · Published 04 Nov 12:00

Ozempic and similar drugs are dominating the conversation about culture, health, and financial markets right now. But what does it mean for Wall Street --- not just for investors, but also in terms of its impact on the social norms of the industry?

**TRIGGER WARNING: This episode contains a discussion of eating disorders and disordered eating.**

After all, the world of Wall Street has made huge strides on the diversity front with one notable exception: body diversity. In this episode, we discuss many of the very real problems with navigating body image in highly competitive, stressful environments where conspicuous consumption of food and alcohol may be an unwritten part of the job description. We are joined by registered dietician Lindsay Lusson to explore the physiological and psychological impacts of trying to conform to these pressures, and what shifts we are seeing with new drugs like Ozempic AND a new generation coming up through the ranks.

Lindsey Lusson is Registered Dietitian who specializes in disordered eating and infertility. She has both personal and professional experience with Hypothalamic Amenorrhea (HA) or period loss related to over exercise and under eating. Her experience led her to become passionate about educating and empowering others to advocate for their health and take charge of their fertility through proper nutrition. She has helped over 250 women recover cycles and restore their fertility naturally.

Credentials:
Education, Credentials & Training
•Bachelors of Science in Nutrition from Texas A&M University
•Masters in Exercise and Sports Nutrition from Texas Woman’s University
•Certified Specialist in Sports Dietetics (CSSD 2013-2018)
•Registered Dietitian (RD)
•Board Certified Health Coach (NBC-HWC)

Follow Lindsay on Instagram and TikTok @food.freedom.fertility, and check out her podcast "The Period Recovery and Fertility Podcast" on your favorite platform.

32. How to get a Private Equity Job: Recruiting 101 Feat. GoBuyside

1h 13m · Published 28 Oct 11:00

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/

31. Equity Capital Markets 101: The IPO

56m · Published 21 Oct 12:00

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!

30. Consulting 101: Feat. Jane Licurse

1h 1m · Published 14 Oct 12:00

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.

The Wall Street Skinny has 69 episodes in total of non- explicit content. Total playtime is 62:45:06. The language of the podcast is English. This podcast has been added on December 24th 2023. It might contain more episodes than the ones shown here. It was last updated on May 18th, 2024 14:10.