The Wall Street Skinny

Kristen and Jen
  • 4.9 (195)
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  • UPDATED WEEKLY
The Wall Street Skinny

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.

  1. 12H AGO

    160. Elite Boutiques vs. Bulge Bracket Investment Banks feat. Greenhill Chairman, Scott Bok

    Send us a text In this episode of The Wall Street Skinny, we sit down with Scott Bok, Chairman and former CEO of Greenhill & Co. and author of Surviving Wall Street: A Tale of Triumph, Tragedy and Timing. Scott shares stories from his remarkable career journey—from big law at Wachtell Lipton to investment banking at Morgan Stanley, to ultimately leading one of the most respected elite boutiques on Wall Street. We talk through the rise of the elite boutique model, the decision to go public, and why Greenhill ultimately sold to Mizuho—plus Scott’s candid take on private equity poaching, career longevity, and the myth of the “Goldman discount.” We also dive into the mechanics of university governance, the rise of endowment taxation, and Scott’s experience as Chairman of the Board at the University of Pennsylvania during one of the most tumultuous moments in higher Ed history. He offers an insider's perspective on free speech debates, board dynamics, DEI backlash, and how elite universities are being pulled into the center of a national cultural reckoning. Scott helps unpack how these issues intersect with broader questions of institutional control, public trust, and economic influence. Finally, Jen and Kristen cover the latest market headlines—from the Moody’s U.S. downgrade to the recent 20-year Treasury auction and what it says (or doesn’t say) about investor sentiment. We also share an exciting announcement: to celebrate crossing 300k followers, we’re hosting a FREE live Excel + financial modeling masterclass on May 29th at 12pm EST—perfect for interns, new hires, or anyone looking to sharpen their skills. Register now to join live or get access to the 48-hour replay! Register HERE Sign up for our Talent Accelerator HERE today! Shop the MAY SALE: - Buy the FULL IBD / PE course for 20% off HERE - M&A Standalone Course $50 OFF HERE Enroll in the Financial Modeling Talent Accelerator 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. Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... ...

    1h 38m

  2. MAY 15

    159. Trump Tax Bill Breakdown and Insider Trading in Congress with Seth Magaziner

    Send us a text We’re thrilled to welcome Congressman Seth Magaziner — a longtime friend from our high school and college days — for a conversation about the intersection of finance, policy, and politics. We break down the proposed tax bill currently moving through Congress, the state of U.S. debt and deficits, and insider trading laws for elected officials, and Seth’s background in finance and public service working as the youngest treasurer of Rhode Island for 8 years. We dive into the details of the proposed $5 trillion tax cuts, $2 trillion spending cuts, and the projected $3–5 trillion increase in debt over the next decade — and what all of this could mean for markets, companies, and investors. We also explore the surprisingly legal practice of members of Congress trading stocks while in office, and Seth’s bipartisan effort to ban it. Sign up for our Talent Accelerator HERE today! Shop the MAY SALE: - Buy the FULL IBD / PE course for 20% off HERE - M&A Standalone Course $50 OFF HERE Enroll in the Financial Modeling Talent Accelerator 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. Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... ...

    57 min

  3. MAY 10

    158. Is the Fed Secretly Stimulating Markets? Plus Exciting Announcement!

    Send us a text In this episode of The Wall Street Skinny, Kristen and Jen kick announce the launch of their long-awaited M&A course, part of their dynamic, story-driven finance curriculum. They discuss how the course, two years in the making, blends real-world technicals with the drama of HBO’s Succession, making complex M&A concepts like accretion/dilution, deferred taxes, and tax structuring both engaging and accessible. They also announce a major May SALE on their self-paced course, see the links below to participate! From there, the conversation dives deep into the latest market headlines. Jen unpacks the recent Fed meeting, clarifying misconceptions about quantitative easing and explaining how the Fed is managing its shrinking balance sheet through non-competitive treasury purchases. They also discuss how these moves tie into broader concerns about stagflation, market liquidity, and the mechanics behind treasury auctions—demystifying some of the viral finance content floating around online. Finally, they pivot to the major private equity news of the week: 3G Capital’s $9.3 billion bid to take Skechers private. Kristen and Jen break down why companies often seek the shelter of private ownership during times of market turmoil, the structure of 3G’s offer (including rollover equity options for shareholders), and what this signals for the broader M&A environment.  Shop the MAY SALE: - Buy the FULL IBD / PE course for 20% off HERE - M&A Standalone Course $50 OFF HERE Enroll in the Financial Modeling Talent Accelerator HERE Join the Fixed Income Sales and Trading waitlist HERE Sign up for our Talent Accelerator HERE today! Shop the MAY SALE: - Buy the FULL IBD / PE course for 20% off HERE - M&A Standalone Course $50 OFF HERE Enroll in the Financial Modeling Talent Accelerator 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. Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... ...

    44 min

  4. MAY 2

    157. From Intern to Offer: The Unwritten Rules of Wall Street Success (Plus Some Markets and Tariff Talk)

    Send us a text This week we start off talking about what's happening in the markets: the latest GDP print—and why the headline number being down isn’t quite as simple as it sounds. We unpack the mechanics behind the contraction, including how tariff-fueled inventory surges and net import dynamics played a role. We also dive into real-time supply chain stress, from container ships skipping ports to what that means for everything from baby gear to air conditioning parts. If you're confused by the mixed signals from the market (like why stocks are back at pre-tariff levels despite growing economic headwinds), you’re not alone—and we break down what might really be going on under the hood. From there, we tackle one of our most-requested topics: how to turn your summer internship into a full-time offer. Whether you're about to hit the desk in sales & trading, investment banking, or even private equity, we share the practical advice no one gives you—like why social skills matter just as much as technical chops, how to navigate rotational programs, and why getting coffee (yes, really) can actually be strategic. We also discuss how the internship landscape has changed over the past decade and what you need to know about recruiting timelines, return offers, and what happens if you don’t get one. Finally, we zoom out to discuss the broader trends shaping Wall Street careers right now: the shifting prestige of private equity, the evolving exit opportunities for sales & trading analysts, and why the “best” path isn’t always the right one. If you’re a student, early-career finance professional, or just trying to understand how to play the long game in today’s market, this is the episode you’ve been waiting for. Oh—and happy May. Let’s dive in. Sign up for our Talent Accelerator HERE today! Shop the MAY SALE: - Buy the FULL IBD / PE course for 20% off HERE - M&A Standalone Course $50 OFF HERE Enroll in the Financial Modeling Talent Accelerator 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. Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... ...

    1h 27m

  5. APR 25

    156. FX 101, Operation Twist and Yale’s Selling Their ENTIRE $6bn PE Portfolio

    Send us a text In this episode of The Wall Street Skinny, we explore the escalating tension between former President Trump and Fed Chair Jerome Powell, how markets reacted, and what it reveals about the importance of central bank independence. Jen also breaks down "Operation Twist"—a lesser-known but powerful Fed tool—and explains how it differs from traditional rate cuts or quantitative easing. Next, we turn to the U.S. dollar, which recently hit a three-year low. Why does a falling dollar matter, and how does it impact everything from inflation to global trade dynamics? We explore the broader implications of currency devaluation in both the U.S. and China, unpack how exchange rates influence purchasing power and investor sentiment, and challenge popular internet takes that frame this as a one-sided currency war. Spoiler: weak currencies on both sides of a trade war mean everyone loses. Finally, we zoom in on Yale’s rumored $6 billion sale of private equity stakes—about 15% of its endowment. What does this tell us about the liquidity crunch facing endowments? We explain how the secondaries market works, why endowments like Yale are turning to it, and the growing tension between LPs and PE firms over approvals and fees. For anyone curious about the inner workings of endowments, private equity, or portfolio rebalancing in volatile times, this is a must-listen. Private Equity Secondaries 101 https://youtu.be/KvayQmu8vNY Sign up for our Talent Accelerator HERE today! https://thewallstreetskinny.com/talent-accelerator/ Our Investment Banking and Private Equity Foundations course is LIVE: https://thewallstreetskinny.com/investment-banking-private-equity-fundamentals/ Sign up for our Talent Accelerator HERE today! Shop the MAY SALE: - Buy the FULL IBD / PE course for 20% off HERE - M&A Standalone Course $50 OFF HERE Enroll in the Financial Modeling Talent Accelerator 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. Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... ...

    53 min

  6. APR 18

    155. The Fed Isn’t Coming to Save Us Plus Endowment Talk and Big Tech Breakups

    Send us a text This week, we break down the tension between Jerome Powell and Donald Trump—and what it actually means for monetary policy. If you listened to Powell’s latest remarks at the Economic Club of Chicago, you may not have thought much of it, but anyone knows how to decode the Fed’s deliberately vague words noticed unmistakably hawkish tone. We explain how to read between the lines of Fed speak, what it really means when the Fed prioritizes price stability over growth. We also get into why Trumps remarks on Truth Social led some to be concerned he's considering firing the Fed Chair... we discuss what that would mean for the credibility of U.S. markets. We dive into the economics of elite universities and the real impact of pulling federal research funding. We explain how endowments actually work, where that money goes, and why cutting research dollars isn’t just about punishing a school—it risks gutting innovation across biotech, national defense, and the U.S. economy more broadly.  Finally, we unpack the return of the Big Tech breakup debate. With Meta and Google back in court over antitrust issues, we explain what a corporate spinoff actually is, how it works, and why breaking up a giant like Meta might help your portfolio. From conglomerate discounts to split-offs and subsidiary IPOs, we walk through the corporate finance mechanics that could drive the next big move in tech. Sign up for our Talent Accelerator HERE today! Shop the MAY SALE: - Buy the FULL IBD / PE course for 20% off HERE - M&A Standalone Course $50 OFF HERE Enroll in the Financial Modeling Talent Accelerator 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. Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... ...

    48 min

  7. APR 15

    154. Bond Market Chaos: Unpacking the Basis Trade Blowup Theory. Cause...or Convenient Excuse?

    Send us a text There has been some speculation that the reason for "chaos in the bond markets" isn't loss of confidence in the US but rather the result of an unwind in "the basis trade" leading hedge funds to blow up and causing yield spreads to widen. To explore this theory we need to get super granular.  We go deep into the relationship between cash bonds, futures, and interest rate swaps—and explain why so many market participants prefer the derivatives over buying Treasuries outright. We also walk through how structural leverage, repo financing, and margin exposure interact in this high-stakes trade, and why even a small dislocation can trigger major losses when trades are levered 50 to 1 (or more). Don't worry, we do keep it accessible—even if you’ve never heard of the Treasury Bond Basis book or you’re not fluent in swaps. HOWEVER, this episode does assume a basic understanding of the bond markets and is definitely "advanced" for those not fluent in fixed income speak, so you might need to listen a few times like Kristen.  Finally, we tackle what the Fed can and can’t do in the face of this volatility, whether quantitative easing or regulatory changes could help, and why some argue the blowups are a symptom of something bigger—not the cause. Whether you're a market pro or just trying to understand what all the chaos in the headlines actually means, this episode gives you the tools to make sense of it. Sign up for our Talent Accelerator HERE today! Shop the MAY SALE: - Buy the FULL IBD / PE course for 20% off HERE - M&A Standalone Course $50 OFF HERE Enroll in the Financial Modeling Talent Accelerator 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. Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... ...

    1h 12m

  8. APR 12

    153. Steve Eisman, the Real-Life "Big Short" Investor, on Tariff Panic and Lessons From the 2008 Crisis

    Send us a text This week on The Wall Street Skinny, we’re diving headfirst into one of the most volatile weeks in recent memory—and we brought backup. After a whiplash-inducing reversal in the bond and equity markets, Jen and Kristen break down how the tariff announcements are rippling through rates, treasury auctions, and investor sentiment. From the Fed’s shrinking balance sheet to the rising fear that the U.S. may be losing its “flight to quality” status, we unpack what’s really happening beneath the headlines—and why the bond market might be the biggest canary in the coal mine. Then, we’re joined by legendary investor Steve Eisman—yes, the Steve Eisman portrayed by Steve Carell in The Big Short—for a candid conversation about the state of the global economy, what everyone’s missing in this moment of policy upheaval, and why he’s not panicking. We get his take on the implications of Trump’s tariffs, the fate of the U.S. dollar, and what it would actually take for the Fed to step in meaningfully. Steve also shares how he spotted the subprime crisis before anyone else, and why he’s still staying cool in today’s environment of uncertainty and anxiety. Whether you’re an investor trying to make sense of the macro crosswinds or a Wall Street hopeful wondering how the system reacts in real time, this episode is packed with hard-earned perspective, market wisdom, and—yes—a few deep cuts from Battlestar Galactica. Stay tuned to hear how Steve really feels about being played by Steve Carell, and why sometimes the best strategy is to zoom out, shut off CNBC, and not sell your soul to the volatility gods. Sign up for our Talent Accelerator HERE today! Shop the MAY SALE: - Buy the FULL IBD / PE course for 20% off HERE - M&A Standalone Course $50 OFF HERE Enroll in the Financial Modeling Talent Accelerator 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. Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... ...

    1h 15m
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4.9
out of 5
195 Ratings

About

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.

Information

  • Creator
    Kristen and Jen
  • Years Active
    2023 - 2025
  • Episodes
    160
  • Rating
    Explicit
  • Copyright
    © 2025 The Wall Street Skinny
  • Show Website
    The Wall Street Skinny

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