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.
The Wall Street Skinny
137. Industry S2E2 | "Giant Squid" Block Trades, IPOs vs. Other Equity Offerings, Perception of PWM & More!
In this episode of the unofficial companion podcast to HBO Max's hit show 'Industry,' Jen and Kristen delve deep into the financial intricacies presented in Season 2, Episode 2, titled 'Giant Squid.'
They start by dissecting the concept of block trades, highlighting how institutions handle large stock transactions and the associated financial risk. The discussion ties this to a real-world example of a recent $2 billion block trade by Citi and the potential losses from such high-stake financial maneuvers when investor demand is miscalculated.
Jen and Kristen also provide insights into Equity Capital Markets (ECM) and Initial Public Offerings (IPOs). They explain the role of underwriters in building the order book and pricing the shares to ensure a successful IPO, emphasizing the importance of the roadshow in generating investor interest. They break down the differences between primary and secondary offerings, and discuss "rescue financing" in the context of private equity involvement.
The hosts take a critical look at the private wealth management (PWM) sector as portrayed in the show. They discuss the stereotypes and realities of PWM roles, contrasting them with the fast-paced environment of institutional sales and trading. They underscore the impact of interpersonal relationships on financial success, using Celeste's mentorship of Yasmin as a case study.
Through these discussions, Jen and Kristen not only enhance viewers' understanding of the dramatic plot but also provide a robust financial education.
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