This week on the Market Maker podcast, Anthony and Piers spotlight Goldman Sachs' standout year in M&A, exploring how the bank has pulled ahead of rivals with a $1.3 trillion deal volume and a 34% market share. They break down the strategy behind Goldman's dominance, from boardroom relationships to sector expertise.
The episode also dives into the $25 billion all-stock "merger of equals" between AkzoNobel and Axalta, examining the rationale, synergies, and why the same deal failed back in 2017. Other stories include Apollo's failed Papa John's bid, Adobe’s acquisition of Semrush, Total Energies’ $6 billion European power play, and WPP's fall from grace amid takeover chatter and consolidation in the media space.
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In this week’s Market Maker from AmplifyME, Anthony and Piers unpack Nvidia’s blockbuster earnings and what they signal for markets heading into year-end. Is the company’s explosive growth sustainable, or are signs of overextension starting to show?
They explore concentration risks, energy bottlenecks, and the AI infrastructure race, while also connecting the dots between macro sentiment, crypto market stress, and Saudi-US investment flows.
A comprehensive take on one of the most pivotal moments in the market this quarter.
(00:00) Nvidia’s Record-Breaking Quarter
(06:16) Concentration Risk in Focus
(10:31) Is AI Overheating?
(17:14) Saudi’s $1 Trillion Move
(26:05) Sentiment Shift or Recovery?
(32:20) Crypto Cracks and Correlations
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Are you a student or early-career professional trying to decide between a bulge bracket or boutique investment bank? In this episode of the AmplifyMe Market Maker podcast, Anthony Cheung and Silvia Magni break down what really sets these firms apart, from business models and deal flow to team structure and day-to-day responsibilities.
They also explore how each path impacts your training, career development, and how to tailor your interview approach. Whether you're drawn to the global reach of a bulge bracket or the hands-on experience of a boutique, this episode helps you choose the right fit and position yourself for success.
(00:00) Intro & Episode Overview
(01:42) Defining Bulge Brackets vs. Boutiques
(03:48) Business Models & Services
(06:59) Deal Flow Differences
(09:21) Team Structure & Responsibility
(11:30) Culture & Career Development
(15:08) Interview Tips & Final Thoughts
(17:20) Conclusion
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Inside the Biggest M&A Deals You Need to Know (Pfizer, LVMH, Atlético Madrid, Parker Hannifin)
In this week’s M&A episode of AmplifyME Market Maker, Anthony and Piers break down the biggest deal headlines from Apollo taking control of Atlético Madrid to LVMH’s stake in Swiss movement maker Le Joux-Perret, Parker Hannifin’s $9.25 billion filtration acquisition, and Burger King’s China JV. The deep dive focuses on Pfizer’s $10 billion battle with Novo Nordisk for Metsera, unpacking the bidding war, regulatory tensions, the strategic race for obesity drugs, and why contingent value rights (CVRs) make this deal so unusual.
(00:00) Atlético Madrid, LVMH & Parker Hannifin
(03:55) Pfizer vs Novo Nordisk for Metsera
(05:10) How the Bidding War Escalated to $10B
(12:27) Contingent Value Right
(18:10) Key Deal Takeaways
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This week on the AmplifyME Market Maker podcast, we break down three major market stories: Trump ends the longest US government shutdown, but markets are already bracing for another fiscal cliff in January; oil drops sharply as Saudi ramps supply ahead of a high-stakes meeting with Trump in Washington; and we unpack Goldman Sachs’ latest view on whether the AI boom is a bubble or the start of a multi-trillion-dollar investment cycle.
(00:00) Intro & Themes in Focus
(02:10) US Government Shutdown Ends
(08:40) SNAP, ACA & Sector Impacts
(12:20) Airlines & Thanksgiving Travel
(14:20) Oil Drops 4%: Supply Glut
(19:05) Saudi Strategy & Trump Meeting
(22:09) AI Demand vs Energy Glut
(24:30) Are We in an AI Bubble?
(26:25) Private vs Public AI Valuations
(29:00) Data Centre Capex Boom
(33:22) Where Value Sits in the AI Stack
(34:31) Gary Marcus & AI Limits
(37:49) Bubble or Not? Final Take
Thinking about a career in finance and want to build confidence in your market views? In this episode, Anthony Cheung is joined by Mike Bell, a former J.P. Morgan macro strategist, to break down how to think clearly about the economy, communicate under pressure, and make your ideas land.
Mike explains how to navigate the business cycle, what really matters when forming a macro view, and how to present with clarity - whether it's to clients, in interviews, or on live TV. If you want to sharpen your market thinking and sound confident doing it, this episode is packed with practical insights you can use right away.
(00:00) Intro to Mike Bell
(03:06) Politics Meets Economics
(07:41) Business Cycle Basics
(13:05) Inflation and Recession
(17:39) Tech Shocks & AI
(22:36) Models vs. Discretion
(31:15) Learning Public Speaking
(35:28) Preparing for Pressure
(51:25) Posting on LinkedIn
In this episode of Market Maker, Anthony and Piers unpack why the pound has dropped to a seven-month low following Rachel Reeves' rare pre-budget comments, and what it signals for UK markets.
They explore London’s rise as a global quant hub, attracting top STEM talent and reshaping finance.
Plus, they break down the $49 billion Kimberly-Clark and Kenvue merger, why markets hate it, and what it means for deal-making today.
(00:00) Welcome & Pound Drop
(04:30) UK Fiscal Shift
(18:43) Quant Boom in London
(30:33) Big Tech vs Quants
(36:50) $49B M&A Deal
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What does bravery look like in the world of finance? Terri Duhon, Wall Street trader turned board director, TEDx speaker, and award-winning educator, shares her remarkable journey from rural Louisiana to MIT, J.P. Morgan, and the boardrooms of Morgan Stanley International and rising fintech firm Wise.
In this inspiring episode of the Market Maker Podcast mini-series spotlighting women in finance, Terri talks about the power of dreaming big, why financial literacy is essential for independence, and how being brave, not perfect, can change everything. She also explores the myths around women and numbers, the reality of imposter syndrome, and the critical role community plays in building confidence.
If you’ve ever doubted your path or felt like you didn’t belong, Terri’s story will remind you that you’re not alone and that you absolutely belong.
(00:00) Introduction & Guest Background
(00:52) Growing Up in Louisiana
(04:10) Imposter Syndrome & MIT
(08:28) Lessons from the Trading Floor
(13:07) Leaving Wall Street
(16:39) Bravery Over Perfection
(19:54) Women and Self-Selection
(25:58) Financial Independence
(30:00) Building Confidence
(33:25) Changing Role Models
(36:31) Final Message
This week on Market Maker, we unpack three big themes moving markets. Nvidia briefly hit a $5 trillion valuation before a Trump–Xi meeting wiped billions off the stock. We explain what happened and what it reveals about AI hype and geopolitics.
We then break down big tech earnings: Alphabet soared while Meta slumped, despite similar numbers. Is “BATMMAAN” the new “Magnificent 7”? And finally, the Fed cut rates—but Powell’s fog analogy hints at rising uncertainty ahead.
Whether you’re a student, prepping for interviews, or just want clear market insights, we’ve got you covered.
(00:00) Themes in Focus This Week
(03:46) Nvidia hits $5T: AI chips, hype & order book
(09:17) Trump–Xi meeting fallout: Nvidia crashes
(22:00) Alphabet soars, Meta slumps — why?
(30:11) Amazon & Apple: AI, retail, and holiday signals
(37:40) Meta’s spending problem + the new AI chapter
(49:37) Fed cuts rates: Powell’s “fog” warning
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In this episode of the Market Maker Podcast, Anthony Cheung is joined by Joe Little, Global Chief Strategist at HSBC Asset Management, to explore the personal journey and professional insights behind one of the top roles in finance.
From discovering economics by chance to immersing himself in investment classics and landing a role at J.P. Morgan, Joe shares how curiosity and persistence shaped his career path.
He also breaks down the real-world role of a Chief Strategist, explains why clear communication and storytelling are powerful tools in markets, and shares why early mentorship can shape your entire career.
Whether you're a student exploring your options or an early-career professional finding your feet, this episode offers inspiration, practical advice, and honest insight into what it takes to thrive in finance.
(00:00) Intro
(00:56) Joe’s unlikely start
(02:20) Discovering economics
(06:43) Importance of mentors
(12:27) What a strategist does
(20:28) Power of storytelling
(28:05) Nature or nurture?
(32:08) Performing under pressure
(34:41) Working across cultures
(39:51) Life on the road
(42:37) Mindset for success
In this episode, Anthony speaks with Kate Hill, Global Head of Trading at Aviva Investors, about her three-decade career spanning Citi, Morgan Stanley, HSBC, and Aviva.
Kate shares what it was like stepping onto the trading floor for the first time, how major market events shaped her path, and the cultural differences she experienced across leading global institutions. She also reflects on transitioning into leadership, balancing personal challenges with career decisions, and the lessons she’s learned along the way.
It’s a candid conversation packed with advice for students and early-career professionals - from resilience and adaptability to the skills that will define the future of trading as technology transforms finance.
(00:00) Trading Intro & Career Journey
(02:57) First Impressions on the Floor
(07:23) Intersection of Markets & Politics
(08:48) Key Market Events & Decisions
(11:47) Reality of Dynamic Markets
(13:14) The Value of Experience
(19:25) Cultural Differences in Finance
(22:43) Moving into Leadership
(26:53) Personal Challenges & Career Choices
(34:46) Asset Management vs Sell-Side
(37:00) Advice for Aspiring Professionals
(41:15) Future of Trading & Tech
With a rate cut from the US central bank now almost guaranteed, we break down what it actually means and why the Fed is also quietly ending its multi-billion-dollar balance sheet tightening.
Meanwhile, Wall Street's heavyweights, J.P. Morgan, Morgan Stanley, Goldman Sachs and BlackRock just posted monster earnings. We unpack why deal-making is back, what Jamie Dimon's "cockroach" comment means for private credit, and how Morgan Stanley reclaimed its equity throne.
Finally, silver? It just hit a 45-year high, driven by a short squeeze that’s forcing traders to fly silver bars across the Atlantic. Literally.
From central bank policy to commodity chaos this is your one-stop weekly debrief to make sure you're on top of all things markets.
(00:00) Intro & Themes in Focus
(04:25) Fed Cut Locked & Loaded
(09:12) Understanding QE & QT
(21:12) Wall Street's big comeback
(23:09) J.P. Morgan Credit Problem
(27:56) Private Credit Warning
(32:26) Morgan Stanley's Stellar Performance
(37:01) Goldman's Huge Quarter
(40:06) GS Job Cuts Amid AI Adoption
(43:27) BlackRock's £13.5trl Boom
(47:12) Silver Gets Short Squeezed
*****
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In this episode, Anthony is joined by Marc Bergeron, a veteran of nearly four decades in finance, from bond trading in the '80s to co-founding his own firm and now championing mentorship at Orchard Global, a leading alternative investment manager.
Marc shares real stories about navigating market crashes, learning the hard way about soft skills, and why adaptability and resilience are make-or-break traits in today’s finance world.
Whether you're a student wondering where to start or a young professional trying to find your edge, Marc's journey offers invaluable insights (and a few hard-won lessons) to help you grow and thrive in the industry.
(00:00) Intro & Guest Intro
(01:31) From Engineering to Finance
(03:39) Life on the ’80s Trading Floor
(07:33) Starting a Finance Firm
(14:54) Entrepreneurial Mindset
(14:29) Soft Skills in Finance
(17:10) Resilience & Adaptability
(24:06) Mentoring & Continuous Learning
(31:17) Organisational Resilience
(34:06) Biggest Lessons & Regrets
(38:22) One Book You Should Read
(42:00) Final Thoughts & Warwick Event
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In this Career Insight episode, Anthony Cheung speaks with Ben Hayward, co-founder and CEO of TwentyFour Asset Management, about his unexpected journey into finance. From studying history of art and pursuing advertising to launching a fixed-income boutique in the midst of the 2008 financial crisis, Ben shares invaluable lessons in career adaptability, leadership, and resilience.
Whether you're a student eyeing your first internship or a young professional navigating your next move, this conversation offers practical advice on breaking into finance, understanding complex credit products, and thriving in asset management. Learn how to simplify financial storytelling, build confidence under pressure, and shape company culture from the top down.
(00:00) Intro to Ben Hayward & 24AM
(04:42) From Art to Finance
(08:07) Starting Out at Citi
(13:03) Becoming an Entrepreneur
(19:23) Managing Stress & Resilience
(25:40) Building Culture at 24AM
(34:10) The power of storytelling
(43:27) Asset Management Explained
(47:35) What makes Fixed Income Unique
(52:16) Advice on Confidence & Resilience
(56:24) Career Tips for Success
Find out more about TwentyFour Asset Management
In this episode of the Market Maker podcast, we dive into the largest leveraged buyout in history - Electronic Arts going private in a $55 billion all-cash deal led by Saudi Arabia’s PIF, Silver Lake, and Jared Kushner’s Affinity Partners. What does this blockbuster transaction say about the future of gaming, geopolitics, and private capital?
We also unpack Jefferies’ record-breaking Q3 performance as dealmaking makes a comeback. Is this a lead indicator for bulge bracket banks like Goldman Sachs and J.P. Morgan?
Finally, we look at why London has dropped out of the top 20 global IPO markets for the first time in decades. With capital increasingly flowing to the US, what can the UK do to reclaim its financial edge?
From LBO mechanics and corporate strategy misfires to the intersection of AI, finance, and global power plays, this is an episode packed with insight for anyone tracking markets, banking, and business strategy.
(00:00) Intro & Themes in Focus
(02:25) US Gov Shutdown & Market Impact
(09:26) Coca-Cola's Costa Coffee Misstep
(14:02) Biggest Leverage Buyout Ever
(19:33) Saudi's Gaming Investment Strategy
(27:16) EA Deal Breakdown
(31:44) Strategic Themes in EA Deal
(34:49) Jeffries' Record & Insights
(39:14) London's IPO Market Decline
(44:24) Fixing London's Financial Scene
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In this episode, Anthony speaks with Romy Cuadras, Head of Alternatives and Fund Solutions at Pictet Wealth Management, about her unconventional path into finance and the lessons she’s learned across global markets.
Romy shares how her Cuban heritage, resilience, and adaptability shaped a career spanning operations, trading, hedge funds, and now leading alternatives for ultra-high-net-worth clients. She offers practical advice on navigating pressure, stakeholder management, and why curiosity, courage, and financial independence are critical skills for young professionals.
It’s an honest look at succeeding in wealth management, full of insights on soft skills, resilience, and standing out in an increasingly competitive industry.
(00:00) Intro
(00:49) Romy’s Journey
(10:43) Positive Mindset
(15:59) Head of Alternatives
(17:38) Soft Skills in Finance
(25:37) Thriving Under Pressure
(33:19) Stakeholder Dynamics
(39:06) Diversity as Strength
(45:33) Standout Performers
(51:22) Meaningful Career
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In this week’s Market Maker Podcast, Anthony and Piers dive into three huge stories shaping markets, technology, and careers in finance:
Trump’s U-turn on Ukraine & the defense stock boom – What does his latest stance mean for NATO, Europe’s defense spending, and why has one German arms manufacturer surged 2,000% since the war began?
Nvidia’s $100bn OpenAI deal & the global AI race – From landmark partnerships with OpenAI, Alibaba, and Intel, to political maneuvering at the top table, we break down how Nvidia is cementing itself as the backbone of AI infrastructure.
HSBC’s quantum leap – The bank claims a 34% improvement in bond price predictions using quantum computing. We unpack what this really means, how it could reshape Wall Street, and why students and early-career professionals should pay attention.
Whether you’re curious about markets, fascinated by frontier tech, or exploring your future in finance, this episode connects the dots between geopolitics, AI, quantum, and the career skills that will matter most.
💡 Timestamps
(00:00) Intro & Topics
(02:04) Trump’s U-Turn & Defense Stocks
(08:55) Nvidia’s $100bn OpenAI Deal
(25:13) Nvidia’s Global Strategy & Politics
(30:45) Quantum Computing in Finance
👉 Useful Resources
AmplifyME free Markets Finance Accelerator
AmplifyME free Banking Finance Accelerator
📌 Student Training Programmes
5-day In-Person Bootcamp in London
3-Week Virtual Summer Analyst Programme
🤝 Connect
In this episode of the Market Maker Podcast, Anthony is joined by M&A expert Silvia Magni to break down one of the most common questions in investment banking:
👉 What’s the difference between sector coverage and product teams?
Whether you're prepping for investment banking interviews, navigating your M&A career path, or deciding between technical vs client-facing roles, this episode covers everything you need to know to make an informed decision.
🔍 What You’ll Learn:
Perfect for students, graduates, and career switchers targeting analyst or associate roles at bulge bracket banks, elite boutiques, or M&A advisory firms.
⏱️ Timestamps:
(00:00) Intro
(00:30) What is sector coverage?
(02:39) Can you change sectors?
(04:14) Sector differences
(05:18) Understanding product teams
(07:13) Choosing the right path in IBD
(08:42) Switching between teams
(10:15) Why industry knowledge is an edge
(13:13) Key takeaways
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New episodes every week diving into M&A, markets, and career advice in finance.
This week, Anthony and Piers dive into the Fed’s unexpected “risk management” rate cut, what does that even mean? And why is Powell suddenly more concerned about jobs than inflation?
Then it's on to Trump’s latest bombshell, scrapping quarterly earnings in favour of semiannual reports. Maverick nonsense or a legitimate debate about investor pressure and corporate costs?
Finally, the team dissect the failed sale of Argos from Sainsbury’s to JD.com. Why did the deal collapse? What does it say about cross-border M&A, boardroom discipline, and China’s global shopping spree?
Whether you’re trading the headlines or prepping for a finance interview, this episode is packed with the market mechanics and strategic insight you need.
(00:00) Intro & News in Focus
(02:23) Fed Rate Cut & Market Implications
(10:03) Trading Psychology & Market Reactions
(11:55) Fed Dot Plots Explained
(18:21) Trump’s Corporate Earnings Proposal
(20:21) Press Bias & News Interpretation
(21:00) Quarterly vs. Semiannual Reporting
(26:12) Tech's Role in Corporate Transparency
(31:30) Argos Deal Breakdown
(42:43) Investor Sentiment & M&A Takeaways
In the second episode of our application-season mini-series with the LSE Alternative Investments Conference (AIC), I’m joined by Yuga Kozuki, Co-President of the LSE AIC.
Yuga shares how he secured speculative roles across venture capital, M&A, and hedge funds using cold emailing strategies, automation tools, and the power of student societies. We also dive into handling pressure, reframing rejection, and using AI as a coach and mentor throughout the process.
This episode is packed with practical hacks and mindset shifts to help you navigate application season with resilience, focus, and confidence.
Perfect for any student exploring different finance paths and looking for fresh, actionable ways to stand out.
(00:00) Introduction to Alternative Investments
(01:37) Navigating University Life and Societies
(04:37) Managing Stress and Pressure
(10:05) Building Resilience Through Rejection
(12:21) Value of Networking in University
(15:47) Mastering the Art of Cold Emailing
(26:19) Interview Process for Speculative Applications
(29:53) Leveraging AI Tools for Productivity