Book a free consultation at https://www.thisfirst.com, and use the code "WSS10" for a 10% discount on your prenup!

Download Macabacus today here: https://macabacus.com/

Follow us on Instagram and Tik Tok at @thewallstreetskinny

https://www.instagram.com/thewallstreetskinny/

Public Disclosure: All investing involves risk. Brokerage services for US listed securities, options and bonds in a self-directed brokerage account are offered by Public Investing, member FINRA & SIPC. Not investment advice. 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 1828849), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC. Securities investments: Not FDIC Insured; No Bank Guarantee; May Lose Value. See public.com/#disclosures-main for more information.

We are kicking off our multi-part foray into the world of Private Credit --- arguably the most talked-about investment vertical of 2024 --- with brilliant and hilarious Keri Findley, founder and CEO of Tacora Capital.  If you're interested in learning about Securitized Products, prestigious exit opportunities from the Sales, Trading, & Research division of an Investment Bank, or the career path towards landing a job in Private Credit, this episode is a MUST LISTEN.

Keri is our first guest who has a background in Securitized Products, and she has a superpower of being able to explain complex concepts in a simple way.  Keri walks us through her early career in ABS CDO research at Morgan Stanley, her quick exit to the buyside --- where she was a Portfolio Manager at Third Point in her mid-20s (!!) --- and the journey of starting her own Private Capital Firm.  

With Keri, we also explore the themes of how blurred the lines can be between our personal and professional lives on Wall Street.  Her candid discussion of what she did to fit in early on in her career, how she handles gossip and negativity, and her decision to have her employees sign prenups on their carry illuminates the complexities of being a senior female investor in today's world.  

Book a free consultation at https://www.thisfirst.com, and use the code "WSS10" for a 10% discount on your prenup!

Download Macabacus today here: https://macabacus.com/

Follow us on Instagram and Tik Tok at @thewallstreetskinny

https://www.instagram.com/thewallstreetskinny/

Public Disclosure: All investing involves risk. Brokerage services for US listed securities, options and bonds in a self-directed brokerage account are offered by Public Investing, member FINRA & SIPC. Not investment advice. 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 1828849), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC. Securities investments: Not FDIC Insured; No Bank Guarantee; May Lose Value. See public.com/#disclosures-main for more information.

In today's episode, we discuss Citadel's potential white label offering of their Equities trading operations to investment banks --- discussed in this article as something to fill the gap of banks pulling back from Equities Sales & Trading:  https://www.bloomberg.com/news/articles/2024-07-11/citadel-securities-crafts-plan-to-shake-up-banks-trading-desks

We also discuss the theoretical possibility that something similar might emerge in the Fixed Income space as well as capital requirements remain a challenge for banks.  We know banks are continually thinking about how to strategically allocate balance sheet in light of a previous article discussing how they've already established a pattern of outsourcing balance sheet to the Private Equity & Private Credit realm.  

Book a free consultation at https://www.thisfirst.com, and use the code "WSS10" for a 10% discount on your prenup!

Follow us on Instagram and Tik Tok at @thewallstreetskinny

https://www.instagram.com/thewallstreetskinny/

Public Disclosure: All investing involves risk. Brokerage services for US listed securities, options and bonds in a self-directed brokerage account are offered by Public Investing, member FINRA & SIPC. Not investment advice. 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 1828849), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC. Securities investments: Not FDIC Insured; No Bank Guarantee; May Lose Value. See public.com/#disclosures-main for more information.

Financial fraud is something we hear about ALL the time.  It feels like there's a new headline about losses stemming from a hack at a financial institution constantly, and we've all seen shows like The Tinder Swindler where scams of individual consumers can have huge consequences. 

The problem with most fraud prevention?  It's backward-looking.  By the time you solve one problem, criminals have found a new way to steal your money.  We sat down with Greenway Solutions, a firm working to revolutionize the space not only for financial institutions, but also for their customers, via the use of "red teams".  These red teams can at times sound like complex spy operations --- yet at other times are deceptively simple in their approach.  We talk about the (terrifying!) magnitude of the financial fraud landscape, how it is changing in the face of AI and deepfakes, and some of the most surprising ways that fraudsters are staying ahead of conventional security measures. 

To learn more about Greenway Solutions, please visit their website here:  https://greenway-solutions.com

To connect with our podcast guests, you can find them on LinkedIn here:
https://www.linkedin.com/in/jerrytylman/
https://www.linkedin.com/in/pjs1969/
https://www.linkedin.com/in/katie-tylman-96b64720b/

Book a free consultation at https://www.thisfirst.com, and use the code "WSS10" for a 10% discount on your prenup!

Download Macabacus today here: https://macabacus.com/

Follow us on Instagram and Tik Tok at @thewallstreetskinny

https://www.instagram.com/thewallstreetskinny/

Public Disclosure: All investing involves risk. Brokerage services for US listed securities, options and bonds in a self-directed brokerage account are offered by Public Investing, member FINRA & SIPC. Not investment advice. 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 1828849), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC. Securities investments: Not FDIC Insured; No Bank Guarantee; May Lose Value. See public.com/#disclosures-main for more information.

This week on The Skinny On ("TSO") we dive into the Paramount deal structure and discuss insane returns by congress, as well as a new law that is looking to make trading on inside info in congress illegal. 

Follow us on Instagram and Tik Tok at @thewallstreetskinny

https://www.instagram.com/thewallstreetskinny/

Public Disclosure: All investing involves risk. Brokerage services for US listed securities, options and bonds in a self-directed brokerage account are offered by Public Investing, member FINRA & SIPC. Not investment advice. 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 1828849), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC. Securities investments: Not FDIC Insured; No Bank Guarantee; May Lose Value. See public.com/#disclosures-main for more information.

Our long-awaited third season recap of the hit show "Succession" is HERE!  Even if you watched the show and loved it, you might not have understood all of the finer points when it comes to the scheming and negotiations at WayStar Royco.  We are here to break down the key corporate finance plot points driving the drama. 

This season has SO many great finance topics to explore, including merger of equals, company valuations, and much more!  We delve a bit into the real deals that inspired and are referenced in the show, and of course get into the drama and humor of our favorite characters.

Book a free consultation at https://www.thisfirst.com, and use the code "WSS10" for a 10% discount on your prenup!

Download Macabacus today here: https://macabacus.com/

Follow us on Instagram and Tik Tok at @thewallstreetskinny

https://www.instagram.com/thewallstreetskinny/

Public Disclosure: All investing involves risk. Brokerage services for US listed securities, options and bonds in a self-directed brokerage account are offered by Public Investing, member FINRA & SIPC. Not investment advice. 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 1828849), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC. Securities investments: Not FDIC Insured; No Bank Guarantee; May Lose Value. See public.com/#disclosures-main for more information.

Happy 4th of July!  We wanted to discuss an article from Fortune Magazine that's been making the rounds, where the COO of Blackrock said "We have more and more conviction that we need people who majored in history, in English, and things that have nothing to do with finance or technology" (article linked below).  We discuss the pros and cons of coming to finance with a background in the humanities, especially in the context of how AI will impact jobs at junior levels in different ways. 

We also took a trip down memory lane to celebrate the 19th anniversary of Kristen's calamitous, yet ultimately fortuitous, visit to NYC to visit Jen during her junior year summer internship. 

https://fortune.com/2024/05/17/blackrock-coo-robert-goldstein-english-history-liberal-arts-hiring/

Follow us on Instagram and Tik Tok at @thewallstreetskinny

https://www.instagram.com/thewallstreetskinny/

Public Disclosure: All investing involves risk. Brokerage services for US listed securities, options and bonds in a self-directed brokerage account are offered by Public Investing, member FINRA & SIPC. Not investment advice. 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 1828849), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC. Securities investments: Not FDIC Insured; No Bank Guarantee; May Lose Value. See public.com/#disclosures-main for more information.

Our long-awaited third season recap of the hit show "Succession" is HERE!  Even if you watched the show and loved it, you might not have understood all of the finer points when it comes to the scheming and negotiations at WayStar Royco.  We are here to break down the key corporate finance plot points driving the drama. 

This season has SO many great finance topics to explore, including LBOs, company valuations, termination fees in a merger, EPS juicing, and much more!  We delve a bit into the real deals that inspired and are referenced in the show, and of course get into the drama and humor of our favorite characters.

We have so many things to cover that we made this a two-part episode!  Stay tuned for part II next week...

Book a free consultation at https://www.thisfirst.com, and use the code "WSS10" for a 10% discount on your prenup!

Download Macabacus today here: https://macabacus.com/

Follow us on Instagram and Tik Tok at @thewallstreetskinny

https://www.instagram.com/thewallstreetskinny/

Public Disclosure: All investing involves risk. Brokerage services for US listed securities, options and bonds in a self-directed brokerage account are offered by Public Investing, member FINRA & SIPC. Not investment advice. 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 1828849), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC. Securities investments: Not FDIC Insured; No Bank Guarantee; May Lose Value. See public.com/#disclosures-main for more information.

We get asked every day by listeners of ALL ages, "am I too old to start a career in finance??"  When you ostensibly need to have internships on your resume by the time you are 19 years old, and when on-cycle PE recruiting starts before new college grads even set foot in IBD training, it's easy to feel that way.  But on the flipside, young people are often dismissed as inexperienced and excluded from the big conversations when their age is deemed to be a negative.  So, let's talk about age in the industry. 

We have a special crossover episode for you today with tech industry expert and TWSS bestie Maureen Wiley Clough, the host of "It Gets Late Early", a podcast devoted to exploring themes of age and experience in the tech world.  We discuss age related hiring issues across the spectrum of elite jobs like tech and high finance, share personal stories, and outline specific tips for breaking into the industry at older ages.

If you don't already listen to "It Gets Late Early", subscribe here:  https://podcasts.apple.com/us/podcast/it-gets-late-early-career-tips-for-tech-employees-in/id1676637848?i=1000660173447

Follow Maureen Wiley Clough on IG @maureenwclough

Book a free consultation at https://www.thisfirst.com, and use the code "WSS10" for a 10% discount on your prenup!

Download Macabacus today here: https://macabacus.com/

Follow us on Instagram and Tik Tok at @thewallstreetskinny

https://www.instagram.com/thewallstreetskinny/

Public Disclosure: All investing involves risk. Brokerage services for US listed securities, options and bonds in a self-directed brokerage account are offered by Public Investing, member FINRA & SIPC. Not investment advice. 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 1828849), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC. Securities investments: Not FDIC Insured; No Bank Guarantee; May Lose Value. See public.com/#disclosures-main for more information.

Today we are speaking with Zoe Cruz, who was the Head of the Fixed Income Division at Morgan Stanley when Jen started her career as a summer intern back in 2005, and who ultimately went on to become President of the firm when Kristen started full-time at MS in 2007.  She rose to the absolute upper echelons of high finance at a time when it was virtually unheard of for a woman to reach that level of leadership.

Zoe has an incredible story.  She started her Wall Street career as a young mother and built the FX business from scratch at one of the world's most elite investment banks.  Zoe was at one point ranked number 10 on the Forbes list of the world’s top 100 most powerful women, has previously topped Fortune magazine’s list of highest paid women in the world, has served on countless boards and advisory councils, started a macro hedge fund (cue Elle Woods…”I mean, what, like it’s hard?”), and she is currently the founder and CEO of Menai Financial Group, a firm focused on the world of “defi” (or decentralized finance).  

Our conversation with Zoe is both a candid look at evolving gender roles on Wall Street and an exciting glimpse into "the next big thing" in finance from the perspective of one of the industry's biggest trailblazers.

Book a free consultation at https://www.thisfirst.com, and use the code "WSS10" for a 10% discount on your prenup!

Download Macabacus today here: https://macabacus.com/

Follow us on Instagram and Tik Tok at @thewallstreetskinny

https://www.instagram.com/thewallstreetskinny/

Public Disclosure: All investing involves risk. Brokerage services for US listed securities, options and bonds in a self-directed brokerage account are offered by Public Investing, member FINRA & SIPC. Not investment advice. 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 1828849), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC. Securities investments: Not FDIC Insured; No Bank Guarantee; May Lose Value. See public.com/#disclosures-main for more information.

Today we sit down with Justin Resnick, a Managing Director at Evercore to discuss private equity secondaries --- one of the fastest growing, yet least understood segments of the private capital world.  He explains the evolution of secondaries and their function as a tool for managing distress and success in equal measure.  We talk about the explosive growth in the industry, the shifts in philosophy amongst GPs and LPs, and the widespread buy-in from many of the biggest names in Private Equity.  And finally, we explain the career path for young candidates or experienced practitioners looking to gain a foothold in the space.

Justin Resnick is a managing director in Evercore’s Private Capital Advisory group. He is responsible for originating and advising financial sponsors on strategic GP-led secondary market solutions. Justin has more than a decade of experience advising clients across a range of strategic deals, representing numerous market-leading sponsors on multi- and single-asset continuation funds, GP stake sales, mergers and acquisitions, and other capital raising transactions.  Prior to joining Evercore, Justin was a member of the secondary advisory team at Houlihan Lokey and also worked in the global energy group in Citigroup’s corporate and investment banking division.
He holds a B.B.A. in finance and accounting from Emory University, where he was also captain of the men’s basketball team.

Book a free consultation at https://www.thisfirst.com, and use the code "WSS10" for a 10% discount on your prenup!

Download Macabacus today here: https://macabacus.com/

Follow us on Instagram and Tik Tok at @thewallstreetskinny

https://www.instagram.com/thewallstreetskinny/

Public Disclosure: All investing involves risk. Brokerage services for US listed securities, options and bonds in a self-directed brokerage account are offered by Public Investing, member FINRA & SIPC. Not investment advice. 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 1828849), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC. Securities investments: Not FDIC Insured; No Bank Guarantee; May Lose Value. See public.com/#disclosures-main for more information.