Market Maker

AmplifyME
  • 4.8 (26)
  • Investing
  • Updated Weekly

The AmplifyME Market Maker Podcast makes finance fun and easy to understand. Hosted by LinkedIn Top Voice Anthony Cheung, alongside trader-turned-founder Piers Curran and former investment banker and entrepreneur Stephen Barnett, each week they break down the biggest market stories and trends shaping the global economy. Get real insight, build your commercial awareness and learn how markets really work, with top guests from leading banks, hedge funds and asset managers sharing their expertise, career journeys and advice.

  1. 1d ago

    Will SpaceX and Tesla Merge? Elon Musk's $3.5 Trillion Masterplan

    Could Elon Musk be preparing to merge SpaceX and Tesla into a $3.5 trillion technology giant? Following SpaceX's blockbuster earnings, speculation is growing that two of Musk's biggest companies could combine to create an unprecedented AI, robotics and space empire. In this episode, Anthony Cheung and Stephen Barnett break down SpaceX's latest financial results, including its extraordinary 161% revenue growth, the rapid expansion of Starlink and its AI infrastructure business, and the risks behind its enormous $20 billion quarterly capital expenditure. We also unpack Musk's ambitious Terafab project, his plans to challenge chipmaking giant TSMC, and his extraordinary prediction that SpaceX could generate up to $1 trillion in annual recurring revenue by the end of 2027. Finally, we explore the financial and strategic logic behind a potential SpaceX–Tesla merger. From autonomous vehicles and humanoid robots to AI data centres in space, could bringing these businesses together unlock Musk's ultimate vision? And perhaps most importantly, how likely is the merger to actually happen? 00:00 SpaceX's Blockbuster Earnings 02:54 The $20 Billion Spending Problem 05:41 Starlink's Explosive Growth 07:52 AI Becomes SpaceX's Biggest Business 11:42 The Hidden Risks in SpaceX's Revenue 15:44 Musk's $1 Trillion Revenue Prediction 21:20 Wall Street & Terafab 26:10 Will SpaceX and Tesla Merge? 28:08 The $3.5 Trillion Merger Explained

  2. 5d ago

    Why Wall Street Is Buying Insurance Against an AI Crash

    Is the AI boom starting to unravel? While investors remain focused on soaring AI valuations and the likes of Nvidia, Microsoft and Meta, the credit markets are sending a very different warning signal. In this episode, Anthony Cheung and Piers Curran explore the growing risks behind the AI investment boom, with AI-linked corporate debt issuance reaching $466 billion and trading volumes in credit default swaps (CDS) surging to more than $9 billion a week. We explain how CDS markets work, why borrowing costs are rising and what bond traders might be seeing that stock market investors are missing. We take a closer look at CoreWeave, one of the biggest players in AI cloud infrastructure, where soaring debt costs have raised questions about the sustainability of its business model. Could rising borrowing costs trigger a wider crisis across the AI ecosystem, even as demand for computing power continues to accelerate? Finally, we examine whether today's AI boom is following the same path as the dot-com bubble, why upcoming earnings from the technology giants could prove critical and what investors should watch for as the AI investment cycle enters its next phase. 00:00 Is the AI Bubble About to Burst? 01:23 Why AI Debt Is Raising Alarm Bells 04:11 The $466 Billion AI Debt Boom 06:54 Credit Default Swaps Explained 11:57 How Traders Hedge Against AI Risk 15:11 The AI Risk Pyramid 16:44 Big Tech's Growing Debt Problem 21:32 Why CoreWeave Is Under Pressure 25:07 How CoreWeave's Business Model Works 29:13 Could Rising Debt Costs Trigger a Crisis? 31:22 Is This Another Dot-Com Bubble? 36:07 What Happens Next for the AI Boom?

  3. Oct 18

    The Private Equity Takeover of Britain's High Street | Boots, PizzaExpress & Starbucks

    Some of Britain's biggest high street brands are changing hands. From the £6.7bn Boots takeover to Starbucks' rumoured acquisition of Chipotle and PizzaExpress potentially being sold again, what's driving this wave of deals? This week, Anthony Cheung and Stephen Barnett explore the private equity shake-up transforming UK retail, how billionaire investors make money from familiar brands, and why rising interest rates are forcing firms to rethink their investments. We unpack the financial engineering behind leveraged buyouts, the strategy behind the Boots acquisition, and what it all means for the future of Britain's high street. Is private equity helping or hurting the brands we know and love? Let us know in the comments. Subscribe to Market Maker for weekly insights into financial markets, investment banking and the biggest business stories. 00:00 The UK High Street Shake-Up 00:58 HSBC Banker's Train Fare Scandal 04:15 Starbucks & Chipotle Merger Rumours 07:03 Starbucks' Hidden Money Machine 13:07 The CEO Who Transformed Chipotle 20:43 Boots' £6.7BN Takeover 24:04 Inside the Private Equity Deal 31:18 Meet the Billionaire Weston Family 39:10 Private Equity's High Street Takeover 42:07 Pizza Express Private Equity Journey 48:23 Why Rising Interest Rates Matter If you’re a regular listener to the show, please take a few mins to fill in our podcast survey. Your input will help us make the show even bigger and better in 2027! Thank you 🙏

  4. Oct 15

    How Wall Street Really Makes Its Money | JPMorgan, Goldman Sachs & BlackRock

    How do the world's biggest banks and investment firms actually make their money? In this episode, Anthony Cheung and Piers Curran break down the latest Wall Street earnings from JPMorgan, Goldman Sachs, Morgan Stanley and BlackRock, revealing the business models driving billions in profits. We explore how JPMorgan has built a record-breaking $100 billion net interest income machine, why Goldman Sachs is benefiting from the SpaceX IPO, and how rising bond yields and volatile stock markets are creating very different fortunes across investment bank trading desks. We also unpack BlackRock's extraordinary $15.5 trillion in assets under management, its expansion into private credit and the hidden power of its Aladdin technology platform. Meanwhile, Morgan Stanley's wealth management business is booming, fuelled by newly wealthy SpaceX shareholders and the prospect of the largest intergenerational wealth transfer in history. Finally, we ask which financial giant has the stronger long-term business model: JPMorgan or BlackRock? And with inflation rising, interest rates under pressure and the AI investment boom facing a crucial earnings season, what could come next for Wall Street? 00:00 How Wall Street Makes Money 01:07 Wall Street Earnings & Inflation 06:43 Is the AI Boom at Risk? 11:28 Why Bond Trading Is Struggling 15:58 JPMorgan's $100bn Money Machine 20:49 The Great Mortgage Risk 26:14 Goldman Sachs & SpaceX 29:33 Anthropic's IPO Plans 34:15 BlackRock's $15.5 Trillion Empire 42:43 Roles in Asset Management 46:30 Morgan Stanley's Wealth Boom 53:36 JPMorgan vs BlackRock: Who Wins? If you’re a regular listener to the show, please take a few mins to fill in our podcast survey. Your input will help us make the show even bigger and better in 2027! Thank you 🙏

  5. Oct 11

    How Investment Banks Execute M&A Deals | Step by Step

    How does a billion-dollar M&A deal actually happen? From winning the mandate to negotiating the final sale, what really goes on behind the scenes at investment banks like Goldman Sachs, Morgan Stanley and J.P. Morgan? In this episode, Anthony Cheung and Stephen Barnett break down the entire mergers and acquisitions (M&A) process, drawing on Stephen's experience in investment banking to explain how deals are pitched, structured, negotiated and ultimately completed. We explore how investment banks compete for lucrative advisory mandates, the difference between buy-side and sell-side transactions, and how companies are valued and marketed to potential buyers. Along the way, we unpack the jargon of M&A, from beauty parades and confidential information memorandums (CIMs) to due diligence, letters of intent and sale and purchase agreements. Using Schneider Electric's $22.6 billion acquisition of PTC as a real-world example, we reveal the roles of bankers, lawyers and private equity firms throughout the dealmaking process, offering a practical guide for anyone looking to break into investment banking or better understand how major corporate transactions work. 00:00 Introduction to M&A Deals 06:26 How Banks Win M&A Mandates 12:59 Investment Banking Bake-Offs 15:29 Why Banks Share M&A Deals 20:23 How M&A Advisory Fees Work 23:24 Conflicts of Interest & Compliance 28:31 Preparing a Company for Sale 33:20 Teasers & Confidentiality Agreements 36:30 The Role Of Lawyers 38:25 Inside the M&A Data Room 40:35 Bidding Wars & Due Diligence 45:11 Choosing the Winning Bid 46:04 Final Negotiations & Closing 49:06 Deal Toys & Banking Traditions Please take a moment to complete our Podcast survey and help shape the future of the show! M&A Jargon Explained M&A (Mergers & Acquisitions): The process of companies buying, selling or combining businesses. Buy-Side Mandate: When an investment bank advises a company looking to make an acquisition. Sell-Side Mandate: When an investment bank advises a company looking to sell. Beauty Parade / Bake-Off: A competitive pitching process where investment banks compete to win an advisory mandate. Teaser: A short, anonymous summary of a business being marketed for sale. NDA (Non-Disclosure Agreement): A legal agreement protecting confidential information shared during a deal. CIM (Confidential Information Memorandum): A detailed document outlining a company's operations, financials and growth prospects for potential buyers. Data Room: A secure online platform containing confidential documents for prospective buyers. IOI (Indication of Interest): An initial, typically non-binding expression of interest in acquiring a business. Due Diligence: The detailed investigation of a company's finances, operations, legal obligations and risks before acquisition. LOI (Letter of Intent): A document outlining a prospective buyer's proposed terms for an acquisition. Pre-emptive Bid: An early offer designed to secure a deal before the competitive bidding process finishes. Exclusivity Period: A period when the seller agrees to negotiate with one preferred buyer. SPA (Sale and Purchase Agreement): The legally binding contract setting out the terms of an acquisition. Deal Tombstone: A commemorative desk ornament celebrating a completed transaction.

  6. Oct 8

    Is France Heading for a Financial Crisis?

    France is facing mounting pressure. Government debt has climbed above €3.5 trillion, borrowing costs are surging, and political uncertainty ahead of the 2027 presidential election is making investors increasingly nervous. In this episode, Anthony Cheung and Piers Curran break down why French bond yields are rising, how decades of persistent budget deficits have created a growing debt problem, and why some major French companies can now borrow more cheaply than their own government. We look at Marine Le Pen’s economic plans, France’s huge pension burden, the risk of capital leaving French markets and what could happen if bond yields continue to climb. Could the ECB eventually be forced to intervene, and would that bring the kind of painful fiscal reforms seen during the Eurozone debt crisis? Finally, we ask whether France could be heading towards its own “Liz Truss moment” and what a French debt crisis could mean for the euro, European markets and the wider global economy. 00:00 Is France About to Fail? 01:09 France’s Bond Market Warning 07:07 The Debt Problem Explained 12:06 France’s €85bn Interest Bill 15:56 Why Italy Is Doing Better 22:10 Protests & Political Pressure 29:25 Will the ECB Bail Out France? 36:55 Lessons From Greece 40:47 Could France Default? 44:28 The Trade on France 47:03 What Happens Next?

  7. Oct 5

    Why UBS Is Threatening to Leave Switzerland

    Could UBS really leave Switzerland? In this episode, Anthony Cheung and Stephen Barnett break down the growing dispute between Switzerland’s biggest bank and the government over new capital requirements and why tougher regulation could have major consequences for UBS and its shareholders. We explain how banks actually work, why Common Equity Tier 1 (CET1) capital matters, what changed after the collapse of Credit Suisse and why forcing banks to hold more capital can make them safer but potentially less competitive. We also look at the battle between traditional banks and fintech challengers, as Monzo considers its next move following takeover interest from Nubank. With Revolut racing ahead and Monzo looking for fresh capital, we explore why some challenger banks have succeeded while others have struggled to scale and what could happen next. 00:00 The Ultimate Banking Mistake 04:10 How Banks Really Work 06:41 What Is CET1? 12:44 Why Banks Are Too Big to Fail 20:18 UBS vs Switzerland 27:54 Why UBS Is Fighting Back 32:23 How UBS Compares 38:35 What’s Happening at Monzo? 46:51 How Challenger Banks Work 49:05 Revolut vs Monzo 52:30 What Happens Next?

  8. Oct 1

    What a US Investment Bank MD Really Looks for When Hiring Graduates

    What does it actually take to build a successful career in financial markets? In this episode, Anthony Cheung sits down with Jamie Philip, who began his career trading at a hedge fund before spending nearly 19 years at J.P. Morgan, ultimately becoming Managing Director and Head of EMEA Futures and Options Execution Sales. Jamie shares what senior bankers really look for when hiring graduates, why being teachable can matter more than appearing impressive, and the mistakes young professionals often make once they land their first job in finance. We also discuss the importance of consistency, trust and reputation, why comparing yourself to others can derail your career, and the lessons Jamie learned from nearly two decades inside one of the world’s biggest investment banks. For anyone trying to break into investment banking, sales and trading or financial markets, this is an inside look at what it takes not just to get the job, but to build a career that lasts. 00:00 Breaking Into Finance 02:58 Buy Side to Sell Side 10:13 A Non-Linear Path 17:18 What MDs Look for in Graduates 20:24 How to Stand Out 22:28 Why Consistency Matters 27:11 Handling Mistakes Under Pressure 29:43 The Early Career Trap 32:46 Money, Success & Perspective 37:08 Finding Work-Life Balance 43:49 Jamie’s Advice for Graduates

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4.8
out of 5
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About

The AmplifyME Market Maker Podcast makes finance fun and easy to understand. Hosted by LinkedIn Top Voice Anthony Cheung, alongside trader-turned-founder Piers Curran and former investment banker and entrepreneur Stephen Barnett, each week they break down the biggest market stories and trends shaping the global economy. Get real insight, build your commercial awareness and learn how markets really work, with top guests from leading banks, hedge funds and asset managers sharing their expertise, career journeys and advice.

Information

  • Creator
    AmplifyME
  • Years Active
    2021 - 2026
  • Episodes
    473
  • Rating
    Clean
  • Copyright
    © AmplifyME
  • Show Website
    Market Maker

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