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The Wall Street Skinny
Kristen and Jen
202 episodes
4 days ago
Send us a text In this episode, we see that friendship and loathing truly are two sides of the same coin. While everything is collapsing for Eric and Yasmin personally, professionally, and morally, Harper is finally ascending into her full power --- at both of their expense. We finally learn what really happened to Yasmin's dad, drawing uncomfortable parallels to chilling real-world headlines. And speaking of real-world headlines, Pierpoint's descent evokes the ghosts of Lehman Brothers and t...
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All content for The Wall Street Skinny is the property of Kristen and Jen and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
Send us a text In this episode, we see that friendship and loathing truly are two sides of the same coin. While everything is collapsing for Eric and Yasmin personally, professionally, and morally, Harper is finally ascending into her full power --- at both of their expense. We finally learn what really happened to Yasmin's dad, drawing uncomfortable parallels to chilling real-world headlines. And speaking of real-world headlines, Pierpoint's descent evokes the ghosts of Lehman Brothers and t...
Show more...
Investing
Business,
Careers
Episodes (20/202)
The Wall Street Skinny
Industry S3E6 "Nikki Beach, or So Many Ways to Lose" | Pierpoint as the Short of the Century
Send us a text In this episode, we see that friendship and loathing truly are two sides of the same coin. While everything is collapsing for Eric and Yasmin personally, professionally, and morally, Harper is finally ascending into her full power --- at both of their expense. We finally learn what really happened to Yasmin's dad, drawing uncomfortable parallels to chilling real-world headlines. And speaking of real-world headlines, Pierpoint's descent evokes the ghosts of Lehman Brothers and t...
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1 week ago
1 hour 38 minutes

The Wall Street Skinny
Industry S3E5 "Company Man" | Why the Next “Lehman” Won’t Come From Banks
Send us a text A public inquiry into Lumi’s £2bn government bailout exposes Pierpoint’s role in the disastrous IPO, where Robert is sent to testify in front of a UK select committee. The episode lays bare how firms protect themselves in crises: lawyers serve the institution, not employees, and blame is carefully redirected toward anyone expendable enough to absorb the fallout. The real financial bombshell, however, happens quietly back on the trading floor. Sweetpea's risk model shows that Pi...
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1 week ago
39 minutes

The Wall Street Skinny
Industry S3E4 "White Mischief" | The Rishi Episode: Trading vs. Gambling, Liz Truss, Emergency QE, Sterling Crisis, and More!
Send us a text In this episode we discuss Season 3, Episode 4: "White Mischief", one of the strongest (and darkest) episodes of the series thus far. What starts as a Christmas episode turns into a brutal examination of luck, power, and the lies we tell ourselves and others. At the end of the day, this episode forces the question: is all trading gambling? If not, what's the difference? At the center is Rishi, running rogue risk around a fictionalized portrayal of Liz Truss' brief ...
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2 weeks ago
1 hour 56 minutes

The Wall Street Skinny
JPMorgan's Global Chair of Investment Banking & Capital Markets, Liz Myers: IPOs & Equity Capital Markets 201
Send us a text In this episode we sit down with Liz Myers, Global Chair of Investment Banking and Capital Markets at J.P. Morgan for an Equity Capital Markets deep dive. We get into IPOs vs follow-ons, primary vs secondary proceeds (and why sponsor-backed IPOs often use proceeds differently), convertibles and the reality of price discovery. Liz breaks down the modern IPO process — from test-the-waters investor education to the order book build — and explains the newer concepts that didn’t exi...
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2 weeks ago
1 hour 22 minutes

The Wall Street Skinny
Breaking down Paramount's $108bn hostile bid for WBD in PSKY / NFLX bidding war + Don’t call it QE: The Fed’s new playbook
Send us a text 0-21:30: PSKY / WBD Deal breakdown 21:30-51:08 The Fed Breakdown 51:08-56:27: Donor Approved Funds for Charity In this episode, Kristen and Jen continue to unpack Warner Brothers Discover bidding war from what the media is constantly getting wrong including missing the non apples to apples bids from PSKY and NFLX as well as why Paramount’s bid looks nothign like traditional M&A and is basically a straight-up leveraged buyout. They also break down the question everyone’s up...
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3 weeks ago
59 minutes

The Wall Street Skinny
Industry S3E3 "It" | Launching a Hedge Fund, Non-Competes, IPO Disaster & ESG Investing Hypocrisy & More!
Send us a text Join Morgan Stanley alums Jen and Kristen as we decode the finance behind Industry Season 3, Episode 3, "It" which takes place at the COP conference in Switzerland. We break down the aftermath of the IPO and why pressuring a research analyst for a buy rating isn't just frowned upon—it’s illegal. We also analyze the mechanics of Petra and Harper’s attempt to launch their non new ESG fund at a climate conference, and why Harper’s calling herself a former "trader" rather than a sa...
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3 weeks ago
2 hours 21 minutes

The Wall Street Skinny
The Math of Predicting (and Profiting from) the Future: from Cat Bonds to Hedge Funds | Sarah Kapnick, Head of Climate Advisory at J.P. Morgan
Send us a text Sarah Kapnick literally trained under John Nash at Princeton, went from structuring catastrophe bonds at Goldman during Hurricane Katrina, to serving as Chief Scientist at NOAA, and is now Global Head of Climate Advisory at JPMorgan. She’s part mathematician, part climate scientist, part Wall Street insider – and the godmother of The Wall Street Skinny, the person who first convinced Jen to go into finance. This interview has been two and a half years in the making, and it’s ea...
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1 month ago
1 hour 15 minutes

The Wall Street Skinny
HBO's about to be owned by Netflix!? Breaking Down the Netflix / Warner Brothers $72Bn M&A Deal
Send us a text This week Kristen and Jen break down the blockbuster Netflix–Warner Bros. deal. Netflix has agreed to acquire Warner Bros. Discovery’s studio and streaming assets — HBO, Max, Warner Bros. Studios, and its iconic content library — for $27.75 per share in a cash and stock deal. But before the deal closes, Warner Bros. will spin off its cable networks (CNN, TBS, Discovery Channel, and more) into a separate company. That means Netflix is only buying the good stuff — no legacy cable...
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1 month ago
18 minutes

The Wall Street Skinny
Michael Burry Accuses Meta + Oracle of AI Accounting Fraud...Legit? Depreciation & Valuation Masterclass
Send us a text In this episode of The Skinny on Wall Street, Kristen and Jen unpack the story stirring up markets: Michael Burry’s latest warning that Big Tech is overstating earnings by extending the “useful life” assumptions on their GPUs. The conversation becomes a real-time teach-in on depreciation, useful life estimates, GAAP vs. tax depreciation, and how a small shift in an accounting estimate can meaningfully inflate EPS—especially for mega-cap tech stocks that trade heavily on P/E mul...
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1 month ago
35 minutes

The Wall Street Skinny
Is the AI Bubble about to Burst? Plus: Fed Questions, Crypto Collapse, and 50-Year Mortgages
Send us a text On this episode, we're talking about AI, the Fed, crypto, and housing --- and how those stories all suddenly collided this week. Nvidia’s huge earnings beat briefly sent markets higher, but the rally fizzled fast as investors grew more anxious about a potential AI bubble. We walk through why valuations increasingly assume massive job displacement and unprecedented productivity gains, and why Oracle has become the market’s “AI downside” hedge as its stock price collapses and its...
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1 month ago
39 minutes

The Wall Street Skinny
Distressed Debt 101 with the GOAT: Michael Gatto, Author of "The Credit Investor’s Handbook"
Send us a text We’re almost 200 episodes in, and we’ve been waiting for the perfect guest to come on to explain distressed debt investing... the wait is over. In this episode, we’re joined by Michael Gatto, who quite literally wrote the book on credit with The Credit Investor’s Handbook, and serves as the head of private side investing (private markets) at Silver Point, a $41 billion credit asset management firm. With private credit dominating headlines for all the wrong reasons - fraud, liqu...
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1 month ago
2 hours

The Wall Street Skinny
Carlyle's Head of Global Wealth, Shane Clifford on Why It's Time to Rethink Private Markets
Send us a text We are thrilled to present a SPECIAL EDITION of The Wall Street Skinny. This episode, recorded live at Carlyle’s NYC offices, is a candid interview with one of our most impressive (yet shockingly down-to-earth) guests to-date: Shane Clifford, Carlyle’s Head of Global Wealth. If you’re wondering how “Global Wealth” fits into one of the world’s most prestigious private equity mega funds, you’re not alone. We set the record straight about what Global Wealth is, how it relat...
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2 months ago
1 hour 3 minutes

The Wall Street Skinny
Breaking Down Meta and xAI's "Creative" Off-Balance-Sheet Data Center Financing Plus Deep Dive into The Fed's Insane Press Conference
Send us a text In this week’s episode, we get into the Fed’s 25 basis point rate cut, Powell’s chaotic press conference before diving into Meta’s creative data center financing which is a lesson on project financing and lease accounting, and finally the growing blur between public and private credit. The Fed’s October meeting delivered the expected 25 bps cut but Powell’s tone afterward left markets rattled. While announcing a pause in quantitative tightening, he hinted that December is...
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2 months ago
54 minutes

The Wall Street Skinny
189. Private Equity | Growth Equity Value Creation with Sixth Street's Paul Dodd | Business Operations 101 (Part 2 of 2)
Send us a text This week, we’re joined by Paul Dodd, Senior Operating Partner and Head of Go-to-Market Operations at Sixth Street, one of the most respected private credit and private equity firms in the world. This episode is Part 2 of our Business Operations 101 series, and we’re digging into how firms like Sixth Street actually create value inside the companies they invest in. Paul specializes in helping tech and SaaS businesses scale efficiently, so instead of talking about dealmaking, we...
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2 months ago
1 hour 33 minutes

The Wall Street Skinny
188. Why Apollo Was Blacklisted By First Brands, Credit Market Chaos Continued Plus Business Operations 101 (Part 1 of 2)
Send us a text In this episode, we sit down with Don Kieffer, senior lecturer at MIT Sloan School of Management and co-author of There’s Gotta Be a Better Way, to talk about what actually makes companies run well. Don has spent decades helping organizations, from Harley-Davidson factory floors to biotech labs, design better systems that unlock real performance. We break down the five-principle framework he developed with his co-author, Nelson Repenning, an MIT PhD, MIT Sloan professor, and le...
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2 months ago
1 hour 10 minutes

The Wall Street Skinny
187. Breaking Down the Trade That Cost Wall Street a QUARTER BILLION dollars, Plus First Brands Bankruptcy & Gold at Record Highs
Send us a text This week on The Wall Street Skinny, we kick off discussing gold ripping to record highs and unpack why that’s happening in a still-high-rate world: sticky inflation keeping real yields muted, central-bank buying, safe-haven demand, and a dash of retail frenzy. We also poke holes in the “25/25/25/25” portfolio meme (equities/bonds/cash/gold) and talk through why allocation can’t be one-size-fits-all—age, goals, and cash-flow needs matter. Then we dive into First Brands’ Chapter...
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2 months ago
53 minutes

The Wall Street Skinny
186. Quant Investing 101 feat. PGIM’s Head of Quantitative Equity, Stacie Mintz
Send us a text What does it really mean to be a "quant investor"? How do quantitative strategies fit into a modern portfolio? And what does it take to break into a quant investing career path? In this episode, we sat down with Stacie Mintz, Head of Quantitative Equity at PGIM (one of the world's largest asset managers, with $1.4tr in AUM). Stacie's team oversees $60bn in quantitative equity strategies, and she joins us to break down what quant investing is, how it differs from other investmen...
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3 months ago
53 minutes

The Wall Street Skinny
185. Largest LBO Ever: EA vs. TXU, What the Govt. Shutdown Means for Markets, & Why We Should Ditch the Fed Funds Rate
Send us a text Two days into a government shutdown, we break down what it actually means for markets when key data go dark—like today’s missing non-farm payrolls—and how that uncertainty can ricochet through trading desks, air travel, the SEC/IPO pipeline, and year-end seasonals. We walk through the historical playbook (rates, dollar, risk) and how we’re thinking about positioning when the Fed is flying with fewer instruments. Then we unpack the freshly announced largest-ever LBO and stack it...
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3 months ago
57 minutes

The Wall Street Skinny
184. Quarterly Earnings: OUT?! Plus Trump's H1-B Shock, and Should We Ditch the Fed Funds Rate?
Send us a text This week on The Skinny on Wall Street, Kristin and Jen tackle three headlines where markets and policy collide. First up: Trump’s call to shift public companies from quarterly to semi-annual earnings reporting. We lay out the real trade-offs—less bureaucracy and “short-termism” pressure for management vs. reduced transparency, potential for more volatility, and what this could mean for big-cap names vs. smaller issuers. Next, we unpack Trump’s proposed H-1B changes, a steep an...
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3 months ago
45 minutes

The Wall Street Skinny
183. Fixed Income Strategy 101 Feat. Morgan Stanley's Global Head Macro Strategy, Matt Hornbach
Send us a text The day after the FOMC’s first rate cut of 2025, we sat down with Matt Hornbach, Global Head of Macro Strategy at Morgan Stanley, to unpack what the decision really meant, and what the markets maybe got wrong on first read. Matt talks about the shifting dissenters, how updates to the Summary of Economic Projections present a more complicated picture for the future path of rate cuts, and why Powell’s tone at the presser felt at odds with the statement itself. We also dig into th...
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3 months ago
1 hour 16 minutes

The Wall Street Skinny
Send us a text In this episode, we see that friendship and loathing truly are two sides of the same coin. While everything is collapsing for Eric and Yasmin personally, professionally, and morally, Harper is finally ascending into her full power --- at both of their expense. We finally learn what really happened to Yasmin's dad, drawing uncomfortable parallels to chilling real-world headlines. And speaking of real-world headlines, Pierpoint's descent evokes the ghosts of Lehman Brothers and t...