Market Maker

Inside the Biggest M&A Deals You Need to Know (Pfizer, LVMH, Atlético Madrid, Parker Hannifin)In this week's M&A episode of AmplifyME Market Maker, Anthony and Piers break down the biggest deal headlines from Apollo taking control of Atlético Madrid to LVMH's stake in Swiss movement maker Le Joux-Perret, Parker Hannifin's $9.25 billion filtration acquisition, and Burger King's China JV. The deep dive focuses on Pfizer's $10 billion battle with Novo Nordisk for Metsera, unpacking the bidding war, regulatory tensions, the strategic race for obesity drugs, and why contingent value rights (CVRs) make this deal so unusual.(00:00) Atlético Madrid, LVMH & Parker Hannifin(03:55) Pfizer vs Novo Nordisk for Metsera(05:10) How the Bidding War Escalated to $10B(12:27) Contingent Value Right(18:10) Key Deal Takeaways*****Take part in a free M&A Finance Accelerator simulation

This week on the AmplifyME Market Maker podcast, we break down three major market stories: Trump ends the longest US government shutdown, but markets are already bracing for another fiscal cliff in January; oil drops sharply as Saudi ramps supply ahead of a high-stakes meeting with Trump in Washington; and we unpack Goldman Sachs' latest view on whether the AI boom is a bubble or the start of a multi-trillion-dollar investment cycle.(00:00) Intro & Themes in Focus(02:10) US Government Shutdown Ends(08:40) SNAP, ACA & Sector Impacts(12:20) Airlines & Thanksgiving Travel(14:20) Oil Drops 4%: Supply Glut(19:05) Saudi Strategy & Trump Meeting(22:09) AI Demand vs Energy Glut(24:30) Are We in an AI Bubble?(26:25) Private vs Public AI Valuations(29:00) Data Centre Capex Boom(33:22) Where Value Sits in the AI Stack(34:31) Gary Marcus & AI Limits(37:49) Bubble or Not? Final Take

Thinking about a career in finance and want to build confidence in your market views? In this episode, Anthony Cheung is joined by Mike Bell, a former J.P. Morgan macro strategist, to break down how to think clearly about the economy, communicate under pressure, and make your ideas land.Mike explains how to navigate the business cycle, what really matters when forming a macro view, and how to present with clarity - whether it's to clients, in interviews, or on live TV. If you want to sharpen your market thinking and sound confident doing it, this episode is packed with practical insights you can use right away.(00:00) Intro to Mike Bell(03:06) Politics Meets Economics(07:41) Business Cycle Basics(13:05) Inflation and Recession(17:39) Tech Shocks & AI(22:36) Models vs. Discretion(31:15) Learning Public Speaking(35:28) Preparing for Pressure(51:25) Posting on LinkedIn

In this episode of Market Maker, Anthony and Piers unpack why the pound has dropped to a seven-month low following Rachel Reeves' rare pre-budget comments, and what it signals for UK markets. They explore London's rise as a global quant hub, attracting top STEM talent and reshaping finance. Plus, they break down the $49 billion Kimberly-Clark and Kenvue merger, why markets hate it, and what it means for deal-making today.(00:00) Welcome & Pound Drop(04:30) UK Fiscal Shift(18:43) Quant Boom in London(30:33) Big Tech vs Quants(36:50) $49B M&A Deal*****Check out the AmplifyME in-person Finance Bootcamp happening in London, 15-19 December 2025.Use the Code BOOT150 at checkout for a £150 discount.

What does bravery look like in the world of finance? Terri Duhon, Wall Street trader turned board director, TEDx speaker, and award-winning educator, shares her remarkable journey from rural Louisiana to MIT, J.P. Morgan, and the boardrooms of Morgan Stanley International and rising fintech firm Wise.In this inspiring episode of the Market Maker Podcast mini-series spotlighting women in finance, Terri talks about the power of dreaming big, why financial literacy is essential for independence, and how being brave, not perfect, can change everything. She also explores the myths around women and numbers, the reality of imposter syndrome, and the critical role community plays in building confidence.If you've ever doubted your path or felt like you didn't belong, Terri's story will remind you that you're not alone and that you absolutely belong.(00:00) Introduction & Guest Background(00:52) Growing Up in Louisiana(04:10) Imposter Syndrome & MIT(08:28) Lessons from the Trading Floor(13:07) Leaving Wall Street(16:39) Bravery Over Perfection(19:54) Women and Self-Selection(25:58) Financial Independence(30:00) Building Confidence(33:25) Changing Role Models(36:31) Final Message

This week on Market Maker, we unpack three big themes moving markets. Nvidia briefly hit a $5 trillion valuation before a Trump–Xi meeting wiped billions off the stock. We explain what happened and what it reveals about AI hype and geopolitics.We then break down big tech earnings: Alphabet soared while Meta slumped, despite similar numbers. Is “BATMMAAN” the new “Magnificent 7”? And finally, the Fed cut rates—but Powell's fog analogy hints at rising uncertainty ahead.Whether you're a student, prepping for interviews, or just want clear market insights, we've got you covered.(00:00) Themes in Focus This Week(03:46) Nvidia hits $5T: AI chips, hype & order book(09:17) Trump–Xi meeting fallout: Nvidia crashes(22:00) Alphabet soars, Meta slumps — why?(30:11) Amazon & Apple: AI, retail, and holiday signals(37:40) Meta's spending problem + the new AI chapter(49:37) Fed cuts rates: Powell's “fog” warningSubscribe to the daily Market Maker newsletter

In this episode of the Market Maker Podcast, Anthony Cheung is joined by Joe Little, Global Chief Strategist at HSBC Asset Management, to explore the personal journey and professional insights behind one of the top roles in finance.From discovering economics by chance to immersing himself in investment classics and landing a role at J.P. Morgan, Joe shares how curiosity and persistence shaped his career path.He also breaks down the real-world role of a Chief Strategist, explains why clear communication and storytelling are powerful tools in markets, and shares why early mentorship can shape your entire career.Whether you're a student exploring your options or an early-career professional finding your feet, this episode offers inspiration, practical advice, and honest insight into what it takes to thrive in finance.(00:00) Intro(00:56) Joe's unlikely start(02:20) Discovering economics(06:43) Importance of mentors(12:27) What a strategist does(20:28) Power of storytelling(28:05) Nature or nurture?(32:08) Performing under pressure(34:41) Working across cultures(39:51) Life on the road(42:37) Mindset for success

In this episode, Anthony speaks with Kate Hill, Global Head of Trading at Aviva Investors, about her three-decade career spanning Citi, Morgan Stanley, HSBC, and Aviva.Kate shares what it was like stepping onto the trading floor for the first time, how major market events shaped her path, and the cultural differences she experienced across leading global institutions. She also reflects on transitioning into leadership, balancing personal challenges with career decisions, and the lessons she's learned along the way.It's a candid conversation packed with advice for students and early-career professionals - from resilience and adaptability to the skills that will define the future of trading as technology transforms finance.(00:00) Trading Intro & Career Journey(02:57) First Impressions on the Floor(07:23) Intersection of Markets & Politics(08:48) Key Market Events & Decisions(11:47) Reality of Dynamic Markets(13:14) The Value of Experience(19:25) Cultural Differences in Finance(22:43) Moving into Leadership(26:53) Personal Challenges & Career Choices(34:46) Asset Management vs Sell-Side(37:00) Advice for Aspiring Professionals(41:15) Future of Trading & Tech

With a rate cut from the US central bank now almost guaranteed, we break down what it actually means and why the Fed is also quietly ending its multi-billion-dollar balance sheet tightening.Meanwhile, Wall Street's heavyweights, J.P. Morgan, Morgan Stanley, Goldman Sachs and BlackRock just posted monster earnings. We unpack why deal-making is back, what Jamie Dimon's "cockroach" comment means for private credit, and how Morgan Stanley reclaimed its equity throne.Finally, silver? It just hit a 45-year high, driven by a short squeeze that's forcing traders to fly silver bars across the Atlantic. Literally.From central bank policy to commodity chaos this is your one-stop weekly debrief to make sure you're on top of all things markets.(00:00) Intro & Themes in Focus(04:25) Fed Cut Locked & Loaded(09:12) Understanding QE & QT(21:12) Wall Street's big comeback(23:09) J.P. Morgan Credit Problem(27:56) Private Credit Warning(32:26) Morgan Stanley's Stellar Performance(37:01) Goldman's Huge Quarter(40:06) GS Job Cuts Amid AI Adoption(43:27) BlackRock's £13.5trl Boom(47:12) Silver Gets Short Squeezed*****Find out more about our work in attraction, training and assessments via world-leading simulation technology www.amplifyme.comStudent interested in Global Markets? Try our free Finance Accelerator simulationWant to train with Anthony and the team in London this December? Check out the Finance Bootcamp

In this episode, Anthony is joined by Marc Bergeron, a veteran of nearly four decades in finance, from bond trading in the '80s to co-founding his own firm and now championing mentorship at Orchard Global, a leading alternative investment manager. Marc shares real stories about navigating market crashes, learning the hard way about soft skills, and why adaptability and resilience are make-or-break traits in today's finance world. Whether you're a student wondering where to start or a young professional trying to find your edge, Marc's journey offers invaluable insights (and a few hard-won lessons) to help you grow and thrive in the industry.(00:00) Intro & Guest Intro(01:31) From Engineering to Finance(03:39) Life on the '80s Trading Floor(07:33) Starting a Finance Firm (14:54) Entrepreneurial Mindset(14:29) Soft Skills in Finance(17:10) Resilience & Adaptability(24:06) Mentoring & Continuous Learning(31:17) Organisational Resilience(34:06) Biggest Lessons & Regrets(38:22) One Book You Should Read(42:00) Final Thoughts & Warwick Event*****Register for the EVENT on campus at the University of Warwick on Thursday, 29th October (6-8pm).

In this Career Insight episode, Anthony Cheung speaks with Ben Hayward, co-founder and CEO of TwentyFour Asset Management, about his unexpected journey into finance. From studying history of art and pursuing advertising to launching a fixed-income boutique in the midst of the 2008 financial crisis, Ben shares invaluable lessons in career adaptability, leadership, and resilience.Whether you're a student eyeing your first internship or a young professional navigating your next move, this conversation offers practical advice on breaking into finance, understanding complex credit products, and thriving in asset management. Learn how to simplify financial storytelling, build confidence under pressure, and shape company culture from the top down.(00:00) Intro to Ben Hayward & 24AM(04:42) From Art to Finance(08:07) Starting Out at Citi(13:03) Becoming an Entrepreneur(19:23) Managing Stress & Resilience(25:40) Building Culture at 24AM(34:10) The power of storytelling(43:27) Asset Management Explained(47:35) What makes Fixed Income Unique(52:16) Advice on Confidence & Resilience(56:24) Career Tips for SuccessFind out more about TwentyFour Asset Management

In this episode of the Market Maker podcast, we dive into the largest leveraged buyout in history - Electronic Arts going private in a $55 billion all-cash deal led by Saudi Arabia's PIF, Silver Lake, and Jared Kushner's Affinity Partners. What does this blockbuster transaction say about the future of gaming, geopolitics, and private capital?We also unpack Jefferies' record-breaking Q3 performance as dealmaking makes a comeback. Is this a lead indicator for bulge bracket banks like Goldman Sachs and J.P. Morgan?Finally, we look at why London has dropped out of the top 20 global IPO markets for the first time in decades. With capital increasingly flowing to the US, what can the UK do to reclaim its financial edge?From LBO mechanics and corporate strategy misfires to the intersection of AI, finance, and global power plays, this is an episode packed with insight for anyone tracking markets, banking, and business strategy.(00:00) Intro & Themes in Focus(02:25) US Gov Shutdown & Market Impact(09:26) Coca-Cola's Costa Coffee Misstep(14:02) Biggest Leverage Buyout Ever(19:33) Saudi's Gaming Investment Strategy(27:16) EA Deal Breakdown(31:44) Strategic Themes in EA Deal(34:49) Jeffries' Record & Insights(39:14) London's IPO Market Decline(44:24) Fixing London's Financial Scene****Take part in a free Markets Finance Accelerator Simulation Find out more about AmplifyME and our work in attraction, training and assessments for leading financial and academic institutions all over the world.

In this episode, Anthony speaks with Romy Cuadras, Head of Alternatives and Fund Solutions at Pictet Wealth Management, about her unconventional path into finance and the lessons she's learned across global markets.Romy shares how her Cuban heritage, resilience, and adaptability shaped a career spanning operations, trading, hedge funds, and now leading alternatives for ultra-high-net-worth clients. She offers practical advice on navigating pressure, stakeholder management, and why curiosity, courage, and financial independence are critical skills for young professionals.It's an honest look at succeeding in wealth management, full of insights on soft skills, resilience, and standing out in an increasingly competitive industry.(00:00) Intro(00:49) Romy's Journey(10:43) Positive Mindset (15:59) Head of Alternatives(17:38) Soft Skills in Finance(25:37) Thriving Under Pressure(33:19) Stakeholder Dynamics(39:06) Diversity as Strength(45:33) Standout Performers(51:22) Meaningful Career*****Sign up for the daily Market Maker Newsletter Find out more about www.amplifyme.comConnect with Anthony Cheung

In this week's Market Maker Podcast, Anthony and Piers dive into three huge stories shaping markets, technology, and careers in finance:Trump's U-turn on Ukraine & the defense stock boom – What does his latest stance mean for NATO, Europe's defense spending, and why has one German arms manufacturer surged 2,000% since the war began?Nvidia's $100bn OpenAI deal & the global AI race – From landmark partnerships with OpenAI, Alibaba, and Intel, to political maneuvering at the top table, we break down how Nvidia is cementing itself as the backbone of AI infrastructure.HSBC's quantum leap – The bank claims a 34% improvement in bond price predictions using quantum computing. We unpack what this really means, how it could reshape Wall Street, and why students and early-career professionals should pay attention.Whether you're curious about markets, fascinated by frontier tech, or exploring your future in finance, this episode connects the dots between geopolitics, AI, quantum, and the career skills that will matter most.

In this episode of the Market Maker Podcast, Anthony is joined by M&A expert Silvia Magni to break down one of the most common questions in investment banking:

This week, Anthony and Piers dive into the Fed's unexpected “risk management” rate cut, what does that even mean? And why is Powell suddenly more concerned about jobs than inflation?Then it's on to Trump's latest bombshell, scrapping quarterly earnings in favour of semiannual reports. Maverick nonsense or a legitimate debate about investor pressure and corporate costs?Finally, the team dissect the failed sale of Argos from Sainsbury's to JD.com. Why did the deal collapse? What does it say about cross-border M&A, boardroom discipline, and China's global shopping spree?Whether you're trading the headlines or prepping for a finance interview, this episode is packed with the market mechanics and strategic insight you need.(00:00) Intro & News in Focus(02:23) Fed Rate Cut & Market Implications(10:03) Trading Psychology & Market Reactions(11:55) Fed Dot Plots Explained(18:21) Trump's Corporate Earnings Proposal(20:21) Press Bias & News Interpretation(21:00) Quarterly vs. Semiannual Reporting(26:12) Tech's Role in Corporate Transparency(31:30) Argos Deal Breakdown(42:43) Investor Sentiment & M&A Takeaways

In the second episode of our application-season mini-series with the LSE Alternative Investments Conference (AIC), I'm joined by Yuga Kozuki, Co-President of the LSE AIC.Yuga shares how he secured speculative roles across venture capital, M&A, and hedge funds using cold emailing strategies, automation tools, and the power of student societies. We also dive into handling pressure, reframing rejection, and using AI as a coach and mentor throughout the process.This episode is packed with practical hacks and mindset shifts to help you navigate application season with resilience, focus, and confidence.Perfect for any student exploring different finance paths and looking for fresh, actionable ways to stand out.(00:00) Introduction to Alternative Investments(01:37) Navigating University Life and Societies(04:37) Managing Stress and Pressure(10:05) Building Resilience Through Rejection(12:21) Value of Networking in University(15:47) Mastering the Art of Cold Emailing(26:19) Interview Process for Speculative Applications(29:53) Leveraging AI Tools for Productivity► LSE AIC Instagram► LSE AIC LinkTree

In this episode, Anthony and Piers unpack a week of upside surprises, from inflation data clearing the path for Fed rate cuts to Oracle's shock $455 billion order book and the tech rally pushing markets to fresh highs.They question whether Wall Street's S&P 500 forecasts are still too cautious, explore why Klarna's IPO success might reignite deal flow, and dissect the $53 billion Anglo-Teck copper merger. More than just a headline deal, it's a masterclass in corporate defense, streamlining portfolios, leaning into future-facing assets like copper, and turning defense into offense with smart, strategic M&A.(00:00) Market Overview & Outlook(02:38) Inflation Data & Fed Policy(05:35) Tech Stocks & Performance(08:27) Oracle Earnings & AI(11:01) Musk's $1T Pay Package(14:11) Analyst Calls & Forecasts(16:47) Banks & Deal Flow(19:35) Klarna IPO & Markets(22:38) Anglo-Teck Merger

Kicking off our special application-season mini-series, we're joined by Raul Verma, Co-President of the LSE Alternative Investments Conference (AIC), to demystify the finance career journey from inside one of the world's top universities.In this episode, Raoul shares his unconventional path, including dropping out and returning to LSE and the real pressures, decisions, and strategies behind landing finance roles. Whether you're considering banking, exploring alternatives, or just starting your journey, this episode is packed with raw insights, relatable stories, and actionable advice.Perfect for students navigating their next steps and looking to hear from peers who've been there.(00:00) Intro to the Mini Series(01:37) Dropping Out of LSE & Coming Back(08:11) Life at a Top Uni: Pressure & Competition(13:26) Mentors Matter: Finding Your Guide(18:08) Handling Parental Expectations(21:33) How to Apply to Finance Roles(31:52) Why This Series? + AIC Overview*****Learn more about LSE AIC

In this episode, Anthony and Piers dig into the surge in UK borrowing costs, now at their highest since 1998. Is this a warning sign or just a media-fueled blip? They explore the fiscal strain, political reshuffling, and why the pound took a sharp hit earlier in the week.The conversation then turns to the deeper structural issues—rising inflation, slowing growth, and a widening current account deficit. Could this all snowball into a credibility crisis for the UK government and Bank of England?Also in this episode: gold's breakout past $3,500, Goldman's bold $5,000 call, and what the rally tells us about fading trust in fiat systems and central bank independence.(00:00) UK: Borrowing & Inflation(08:41) Debt Spiral(17:17) Deficits & Outlook(25:56) Gold as Hedge(34:25) Trust in Gov't & Banks

In this episode, Anthony is joined by M&A expert Silvia Magni to break down how to confidently talk about M&A and corporate finance deals in investment banking interviews — even if you haven't worked on a deal yourself.We cover what interviewers are really looking for, how to structure your answer like a pro, how to use recent or live deals the right way, and the most common mistakes candidates make (and how to avoid them). Plus, why strategic rationale often matters more than just getting the technicals right.Whether you're preparing for analyst or associate-level roles, this is packed with practical advice to help you stand out.

Piers is back on the mic, and just in time. The markets are heating up and so is the political pressure. In this episode, Anthony and Piers unpack Trump's latest attack on the Federal Reserve, this time zeroing in on Governor Lisa Cook with allegations of mortgage fraud. Is this just another headline-grabbing move, or a serious threat to the Fed's independence?Then, the focus shifts to France, where political chaos is shaking investor confidence and French markets are tanking. Could Macron's government collapse? And what happens if it does?Closer to home, UK households are facing another blow as food and energy prices spike. So why is the Bank of England cutting rates while inflation is rising?Also in this episode: market reactions to Powell's Jackson Hole speech, the bond market's inflation signals, and why traders keenly awaiting the upcoming payrolls report.(00:00) Reunion and Market Overview(04:33) Trump's Influence on the Fed(27:58) Political Turmoil in France(38:12) UK Inflation and Economic Outlook

In this episode, we shine a light on one of the most powerful yet misunderstood sectors in finance - commodities. Joined by Lauren Haymond, Global Head of Talent Strategy at Castleton Commodities International (CCI), we unpack what makes this industry uniquely dynamic and ripe with opportunity for early career talent.Lauren shares her personal journey from headhunting to high finance, and breaks down the various roles beyond trading, including risk management, data science, and operations. Discover how CCI fosters rapid career growth, the traits and technical skills that make candidates stand out, and how to navigate emotional resilience in high-pressure roles.Whether you're a student exploring career options or a young professional aiming to make a meaningful impact, this episode offers invaluable advice on learning agility, proactivity, and how to build lasting industry connections, especially if you're starting from scratch.Listen in and get inspired to consider a future in commodities.(00:00) Introduction and Topics in Focus(00:48) Lauren's Background in Hiring & Talent(01:54) The Unique Aspects of Commodities(07:06) What is Flow & Fundamentals in Trading(08:54) Skills and Traits for Success in Commodities(11:19) Understanding Roles in Commodities Trading(14:20) The Importance of Collaboration at Work(15:20) Best Practice in your Early Career(17:48) Building Emotional Resilience(22:26) The Value of Learning Agility(25:11) Networking and Career Development in Finance(28:28) Recommended Resources for Commodities(30:45) What is Principle Investing?Find out more about careers at CCI Follow Anthony and AmplifyME on LinkedIn

In this episode, we dive into the archive to take you back to 2022 when Anthony spoke to Will Hobbs, who at the time of recording was the acting Chief Investment Officer of Barclays Wealth Management.Will talks about his untraditional route into markets, from training in Italy as a chef to landing his first role in finance, working through the dot-com and financial crisis, and then deconstructing his current role as Chief Investment Officer.There are lots of tips on networking, leveraging personal experiences, and a detailed explanation of how his team oversees the investment philosophy at Barclays UK in Strategic Asset Allocation (SAA) and Tactical Asset Allocation (TAA) decisions.We also touch on how he found his real passion later on in his career which ultimately acted as the springboard to later success and discuss how he deals with the pressure of being responsible for key decisions within the division he operates in.A must listen to episode for those looking to work in asset or wealth management but also for the wider community if you are looking for an open and genuine insight into working in the world of finance.(00:00) Introduction(02:10) From chef to CIO(04:00) Travel, Turkey, and taking risks(09:50) Early jobs and finding purpose(13:57) Networking advice: just ask(16:19) What a CIO really does(20:12) Handling pressure and big calls(25:01) Mental health in finance(30:16) Bitcoin, blockchain, and investing(34:53) How to start learning markets(38:03) Final tips for beginners

Earnings season is in full swing and Meta and Microsoft are stealing the show. Anthony and Piers dive into why Meta's shares rocketed 12% on blockbuster earnings, a stunning rebound from its metaverse slump. They explore how Zuckerberg's all-in AI pivot is paying off, from $100M talent wars to $72B in CapEx.Microsoft's cloud machine, Azure, just clocked $75B in annual revenue with 34% growth catapulting the company past a $4 trillion valuation. Is $10 trillion next?Also on the docket: Trump's tariff campaign enters high gear as he turns a Scottish golf course into a global trade hub. Deals are landing, inflation fears rise, and Powell's hawkish stance is pushing the dollar higher. With a September Fed cut now a coin toss, markets are bracing for more.Big tech, big politics, and even bigger moves, your no-nonsense breakdown of the forces driving the summer markets.(00:00) Intro & Key Themes(01:37) Meta Earnings Surge(12:49) Trump's Trade Deals(17:04) Fed's Hawkish Shift(31:57) Microsoft's Cloud GrowthIf you enjoy the podcast, please vote for us in the 'Listeners' choice category at the British Podcast Awards 2025! All you need to do is click on the link, search for 'Market Maker' and input your details, it takes no more than 10 secs! Thank you x

In this episode, Anthony is joined by Dani Markovits, Creator & Community Manager at LinkedIn, to explore how anyone, from students and young professionals to entrepreneurs and senior leaders, can use LinkedIn as a powerful tool for career growth, authentic brand storytelling, and building a strong personal presence.Whether you're just starting to build your network or looking to stand out in a competitive job market, this conversation is packed with actionable advice. Dani shares the insider strategies he uses to support LinkedIn's top creators, from optimising your profile and posting with purpose, to leveraging comments and DMs to spark genuine connections.Expect practical tips on building your personal brand, being consistent without burning out, and how to turn curiosity into content that adds real value. If you're serious about your career, you can't afford to treat LinkedIn like just a digital CV. This episode shows you how to turn it into your launchpad whatever your industry.(00:00) Intro: Why LinkedIn Matters(01:14) Tip 1: Optimise Your Profile(05:23) Tip 2: Start Before You're Ready(08:37) Tip 3: Comment Like It's Your Job(12:31) Tip 4: Curiosity Is a Superpower(15:29) Tip 5: Create Content That Adds Value(23:57) Tip 6: Be Generous With Others(27:52) Tip 7: Stay Consistent(31:18) Tip 8: Send Better DMs(34:57) Tip 9: Experiment With Different Formats(36:11) Tip 10: Be Known For Something

Big Tech earnings are rolling in and Alphabet just dropped a strong quarter, with search and cloud firing on all cylinders. Anthony and Piers unpack why fears of AI eating into Google's ad machine are overblown (for now), and what a mind-bending $85 billion AI spend tells us about the battle for dominance.Meanwhile, Tesla's numbers paint a rougher picture. Revenue down, profits off a cliff, and EV incentives scrapped. But Musk's betting big on robotaxis and he's not alone. The guys break down the race between Tesla, Waymo, and Amazon's Zoox for the future of driverless mobility.Also in this episode: Trump's new Japan trade pact sends Japanese automakers soaring, a look at how the carry trade could backfire on the US, and why meme stocks like Krispy Kreme are suddenly back in the spotlight.(00:00) Intro(03:07) Alphabet Earnings(07:08) Google Cloud & AI(09:26) $85B AI Spend(14:29) Mag 7 Check-In(16:53) Tesla Misses(21:24) Musk's Big Bets(23:20) RoboTaxi Showdown(28:39) Can Tesla Win?(32:38) Trump's Japan Deal(36:54) Carry Trade Risk(40:43) Meme Stocks Return(46:23) WallStreetBets Redux

In this episode, Anthony speaks with Victoria Bryan, Senior Vice President, Trade Performance and Analytics, Banking and Markets, Northern Trust, about how data analytics shapes trading decisions and drives performance on the trading floor.Victoria shares how she built a career at the intersection of data, markets, and communication, teaching herself to code, translating complex insights for stakeholders, and leading with curiosity and adaptability.It's a candid look at one of the most impactful (and often overlooked) roles in finance, full of practical advice for anyone exploring data-driven careers or trying to stand out early in the industry.(00:00) Introduction to Data Analytics in Finance(01:24) Victoria Bryan's Journey: Education and Early Career(06:17) Understanding Northern Trust and Its Role(09:05) Navigating Career Challenges and University Selection(14:20) Mindset Shifts for Career Pivots(18:07) The Willingness to Learn and Personal Growth(21:52) The Role of Data Analytics in Trading Decisions(25:15) Essential Skills for Success(29:09) The Balance of Communication Skills(31:33) Building Confidence in Public Speaking(35:51) Navigating Imposter Syndrome(42:43) The Importance of Networking(46:16) Advice to My Younger Self

Earnings season is here, and Wall Street's heavyweights came out swinging. Anthony and Piers unpack how Goldman Sachs and Morgan Stanley crushed Q2, driven by record trading revenues and a surprise rebound in deal flow.They explore Morgan Stanley's booming wealth arm with $59 billion in fresh inflows, and how JP Morgan's universal model is thriving, from trading floors to retail lending. Plus, BlackRock's puzzling $52 billion client pullout, a bond ETF surge, and crypto ETFs making noise.Also: inflation surprises in the UK and US, and Trump's “Twaco” trade rakes in $64 billion in tariff revenue. A easy to understand breakdown of the macro forces steering the summer markets.(00:00) Intro & Themes in Focus(01:30) Goldman Sachs, Morgan Stanley Earnings(08:07) The Goldman Model Business Explained(10:01) What is FICC and Equities in a Bank?(16:18) Wealth Management and Its Importance(20:46) J.P. Morgan: How a Universal Bank Works(24:35) BlackRock Q2 earnings summary(31:30) Inflation Trends in the UK and US(39:44) Trump Tariff Revenues & TWACO

Markets extended their stunning 2025 rebound, with the S&P 500 logging one of the fastest recoveries from a bear market on record. Anthony and Piers unpack Goldman's bullish upgrade spree and how Nvidia's $4 trillion surge is fueling the rally.They dissect Trump's copper tariff shock, the market's technical whiplash, and what it reveals about U.S. supply chain fragility. Plus, the “Big Beautiful Bill” signed on July 4th quietly eliminated a top 2025 risk while cutting taxes and scrapping green subsidies.Also on the docket: Apple's AI lag, UK gilt drama, and why big money like BlackRock is buying the dip. From CDS mechanics to market psychology, the episode maps the key drivers behind the summer surge.(00:00) Intro & Key Themes in Focus(02:21) Market Outlook and Stock Predictions(08:51) The Rise of Nvidia and Big Tech(13:53) Trump's Tariffs and Copper Market Dynamics(22:56) The Big Beautiful Bill and Debt Ceiling Updates(26:07) Understanding Credit Default Swaps (CDS)(31:52) UK Gilt Yields and Market Reactions

Markets staged a stunning rebound in the first half of 2025 - after a brutal start that saw the S&P 500 plunge into bear market territory. Anthony and Piers rewind the chaos: Trump's tariff shock on “Liberation Day,” the inflation scare that followed, and how a market left for dead came roaring back to record highs.They unpack the Fed's evolving rate path, the quiet rise of a “shadow chair” ahead of Powell's potential exit, and why Nvidia's earnings may have rescued the AI hype cycle. Plus, Netflix and Uber emerge as surprise stars of H1, while Italy's bond market revival puts it on the economic leader board.From VIX lows to fiscal turnarounds, this episode cuts through the noise and spotlights what really mattered and what's coming next.(00:00) Intro & Themes in Focus(02:18) Market Overview: A Roller Coaster Year(08:43) What to Watch Going Forward(13:20) Trumps Escalate to Negotiate Strategy(14:48) AI Stocks Remain a Key Driver(16:49) VIX: The Fear Gauge(19:56) Sector Performance and Key Players(23:39) Banks Strong Performance in 1H25(25:50) Netflix Successful Turnaround(31:13) Uber's Turnaround and Future Prospects(36:07) Italy's Economic Recovery and Political Stability

Anthony, Stephen, and Silvia break down the $10 billion blockbuster sale of the LA Lakers. Why did the Buss family cash out after 40 years and what makes the Lakers the world's most valuable sports franchise? From brand power and valuation layers to the media rights behind the deal.Then, Chelsea FC quietly sells off its women's team… to itself? Stephen exposes the dark arts of private equity and how Chelsea dodged FFP rules with some creative accounting.Finally, ESPN buys into lacrosse, and English rugby looks to American-style franchising to stay alive. Is sport just business now and what does it mean for the future of valuations?(00:00) Intro and Farewell(04:57) Welcome Silvia to the Show(05:57) The LA Lakers Record-Breaking Valuation(27:15) Private Equity in Women's Soccer(37:09) Emerging Trends in Lacrosse and Rugby Investments

Markets hit new highs this week, but under the hood, things are anything but settled. Anthony and Piers unpack the Nasdaq's breakout, Nvidia's relentless rally, and why a historic rebound might be more than just a bounce.They dig into Trump's latest attack on Powell and the rise of a “shadow chair” theory already shifting rate expectations—and markets.Plus, why Iran's missile strike on a U.S. base sent oil crashing, not soaring. From data to geopolitics, this episode filters out the noise and finds the signal.(00:00) Intro & Themes in Focus(01:50) Market Resilience Amidst Turbulence(08:12) Nvidia Back on Top(13:18) Trump's Influence on Monetary Policy(25:18) Geopolitical Tensions and Market Reactions

In this episode, Anthony speaks with Wee Kii Teh, a Portfolio Manager at Allianz Global Investors, about the practical skills and mindset needed to succeed in a competitive finance career.Drawing on experience across credit risk, capital markets, and now impact investing, Wee Kii shares what really sets top interns apart, how to adapt to new roles quickly, and why asking smart questions is more important than knowing all the answers.Whether you're preparing for an assessment centre, trying to decide between sell-side and buy-side, or figuring out how to navigate workplace culture, this conversation is full of actionable insight.Expect practical tips on upskilling, career transitions, building strong relationships, and finding roles that match your values and ambition.(00:00) Introduction and Career Journey(02:26) Transitioning from STEM to Finance(08:59) Building Confidence and Seeking Mentorship(13:36) Adapting to New Environments and Upskilling(16:33) The Importance of Company Culture(21:21) Internship Insights and Attributes of Top Interns(24:54) Buy-Side vs Sell-Side Experience(27:53) Cultivating Relationships and Mentorship(31:58) Career Priorities and What Changes with Seniority(34:08) Impact Investing and ESG Opportunities(40:02) Advice for Young Professionals

Anthony and Stephen explore how Cursor became the fastest-growing AI startup ever, from MIT roots to “vibe coding” hype and a $20 billion valuation in just 14 months.Then, it's boardroom drama in Spain as Sabadell spins off TSB to block a hostile takeover from BBVA — a strategic move with big implications for European banking.Finally, Barclays brings in McKinsey to cut costs. What happens when consultants start targeting front-office jobs and what does it signal for banking careers in the age of AI?(00:00) Intro & Topics in Focus(02:40) Cursor and Vibe Coding(18:23) The Spanish Banking Landscape and TSB(30:51) Barclays and the Role of Consultants in Investment Banking

Welcome to Market Maker - the podcast that makes finance interesting and easy to understand for everyone.Hosted by Anthony Cheung, Chief Content & Culture Officer at AmplifyME, each week he and a guest break down what's really moving markets, from interest rates and tech stocks to global politics and the latest M&A deals.Think of it like the FT... but with fewer buzzwords, more clarity, and a lot less taking ourselves too seriously.For anyone looking to understand markets better, whether for their career, business, or just curiosity — this is your edge.Subscribe now to Market Maker and stay one step ahead.

Markets have stayed calm so far this week, but central banks and geopolitics were anything but. Anthony and Piers break down the Fed's muted meeting, the revised growth and inflation forecasts, and the hidden signals in the dot plot. Over in the UK, a dovish shift at the Bank of England suggests more cuts are coming despite a steady headline rate.They also unpack rising tensions between the U.S., Israel, and Iran, and what oil markets are really telling us about the risk of escalation.From vote splits to forward guidance, this episode filters the noise to reveal the signals that matter.(00:00) Intro & Topics in Focus(02:03) Fed Hold Rates But Dot Plots Move(17:49) Bank of England's Strategy and Vote Split(27:39) Geopolitical Tensions and Market Reactions

From a $33 billion family tie-up at Toyota to Japan's 400% surge in M&A activity, Anthony and Stephen break down the latest investment banking scorecard and why dealmakers are suddenly flocking East.They also dig into Disney's final takeover of Hulu, the $15 billion Meta bet on AI startup Scale, and the fiery rise of Dave's Hot Chicken, where three friends turned a $900 parking lot pop-up into a billion-dollar brand.Essential listening for anyone tracking global M&A trends, streaming wars, AI arms races and the unexpected lessons of franchise chicken economics.(00:00) Intro & Themes in Focus(02:09) Investment Banking Scorecard Overview(04:09) Japan's M&A Surge: A Deep Dive(10:46) Disney's Strategic Acquisition of Hulu(16:46) Meta's $15 Billion Bet on AI(23:25) The Rise of Dave's Hot Chicken****Check out the AmplifyME Summer Analyst Tradining Programme https://amplifyme.com/summer-analyst-programme

Markets erupted this week as oil spiked 13% overnight following Israeli strikes on Iran. Anthony and Piers unpack what it all means from geopolitical shockwaves to the tactical chaos of trading during breaking news.They also dive into the concept of backwardation and why it's dominated the oil market for years, despite the headlines. Plus, what U.S. inflation data reveals about Trump's tariff strategy and the real pressure behind his attacks on Fed Chair Jerome Powell.With the Fed meeting looming, a surging FTSE defying weak UK GDP, and signs of a subtle U.S.–China détente in London, this episode helps you connect the dots in a world full of noise.(00:00) Intro & Key Themes in Focus(02:14) Market Reactions to Geopolitical Events(12:33) Understanding Oil Market Dynamics(17:47) US Inflation Data and Its Implications(25:39) Trump Pressures the Fed to Cut(27:50) US-China Relations and Market Impact(32:45) UK GDP and the Resilience of the FTSE 100

From Wall Street's wild recruiting arms race to the collapse of KKR's £4bn Thames Water rescue, Anthony and Stephen unravel the biggest private equity stories shaping markets right now.They unpack why PE firms are hiring grads five years early (and why J.P. Morgan's furious), the 35% drop in global fundraising, and what it means for the industry's future. Plus: Salesforce bets $8bn on Informatica in a bold AI data play, and after 717 days of drama, the Telegraph sale finally nears the finish line.Essential listening for anyone navigating the high-stakes world of M&A, private equity power moves, and the politics behind billion-dollar deals.(00:00) Intro & Themes in Focus(01:55) What Makes a Good LBO Candidate(04:54) Recruiting Mania in Private Equity(14:16) KKR and Thames Water Update(21:06) Private Equity Fundraising Trends(30:33) Telegraph Acquisition Insights(34:34) Salesforce's Acquisition of Informatica

Piers Curran returns to break down the macro landscape as we head into the second half of 2025, just in time for interview season. We unpack the three economic pillars: growth, inflation, and interest rates through the lens of Trump's tariffs, the U.S. deficit crisis, and conflicting market signals. Why are stocks near highs while bond yields and the dollar signal caution? What's really behind gold and Bitcoin's surge? And how should you interpret these moves when sitting across from an interviewer? Whether you're prepping for an assessment centre or trying to read the market tea leaves, this episode is your macro cheat sheet.(00:00) Introduction and Overview of Market Trends(03:07) GDP, Inflation, and Interest Rates(06:13) The Impact of US Politics on Markets(08:55) Market Reactions: US yields vs US Dollar(16:33) What On the Radar In The Coming Months(21:28) What Next For Stocks?(25:13) Retail vs Institutional Investors(27:53) Crude Remains Weak While Gold and Bitcoin Rally(31:43) China's Economic Performance and Global Implications

In this episode, Anthony speaks with Sara Ruozzo, whose journey from classical studies in Milan to internships at Microsoft and Tesla, and now working in sustainable investments at UBS, is a masterclass in career pivoting with purpose.If you're a student from a non-finance background or early in your career, wondering how to break into finance (and feel like everyone else already knows the playbook), this one's for you.Sara discusses the real value of a STEM background in the finance industry and why saying yes to new experiences (even when you're unsure) can be the fastest route to finding your edge.Expect jargon-free advice, practical tips on self-teaching, the value of rotations and graduate schemes, and how to build a story that makes employers sit up and listen.(00:00) Introduction and Background(03:01) Career Pivots and Decision-Making Process(05:49) Transitioning into Finance(08:23) Building Confidence and Self-Awareness(11:58) Knowledge Gaps and Learning Strategies(14:53) Soft Skills and Growth Mindset(19:10) Practical Steps to Upskilling(26:24) The Power of Networking(27:28) Cultivating a Growth Mindset in Finance(31:51) Leveraging a STEM Background in Finance(36:36) The Value of Cultural Experiences(43:55) Articulating Your Career Journey(46:56) Practical Tips for STEM Students in Finance Hosted on Acast. See acast.com/privacy for more information.

From a $35bn “Valentine's Day love letter” to OpenAI's mysterious $6.5bn hardware play, Anthony and Stephen break down the biggest deal stories shaking up markets this week.They also dive into the private equity pullback as firms like Blackstone and KKR slump, why Goldman Sachs is going big on the Middle East, and how Victoria's Secret is fighting off unwanted attention with lingerie and a poison pill.Essential listening for anyone curious about the mechanics of mega M&A, private equity's shifting playbook, and the strange overlap between fashion, finance, and billion-dollar drama.(00:00) Intro & Key Themes(01:43) The $35 Billion Love Letter(09:36) OpenAI's Bold Acquisition(16:42) The State of Private Equity(23:23) Goldman Sachs in the Middle East(27:14) Victoria's Secrets Poison Pill(32:55) Google's $700 Million Gift*****Are you a student interested in exploring a career in finance? Check out the AmplifyME Summer Analyst Training Programme https://amplifyme.com/summer-analyst-programme Hosted on Acast. See acast.com/privacy for more information.

From a surprise jump in UK inflation to soaring retail sales and a surging pound, Anthony and Piers break down why Britain's economy is defying expectations and what it means for interest rate cuts.They also unpack the bizarre logic behind OPEC's production hike amid falling oil prices, gold's fresh rally on renewed debt fears, and how Trump's “Big Beautiful Bill” could push US borrowing costs to record highs.Essential listening for anyone trying to make sense of inflation surprises, energy market gamesmanship, and the slow-burning fuse of America's fiscal crisis.(00:00) Intro & Key Themes(01:37) UK Inflation and Consumer Confidence(08:10) Oil Market Dynamics and OPEC's Strategy(15:15) Gold's Resurgence Amid US Debt Concerns Hosted on Acast. See acast.com/privacy for more information.

From eToro's blockbuster debut to the return of SPACs and the flood of micro IPOs from China, Anthony and Stephen break down what's really happening in the 2025 IPO market.They also dive into the data behind Japan's surprise IPO boom, why London continues to lag, and which investment banks are topping the ECM league tables, with one unexpected name climbing fast.Essential insight for anyone tracking deals, equity markets, and the big stories behind this year's public listings.(00:00) Intro & Key Themes(02:47) IPO Market Overview: Year-to-Date Performance(05:14) Micro Listings: A New Trend in IPOs(13:01) Understanding SPACs and Their Role(17:41) Global IPO Activity: A Broader Perspective(20:21) Sector Analysis: What Companies Are Going Public?(24:01) eToro IPO & Notable Companies to Watch(33:44) UK IPO Landscape: Challenges and Opportunities(36:52) Investment Banks: League Tables and Revenue Breakdown Hosted on Acast. See acast.com/privacy for more information.

From a blistering 20% S&P rebound to Trump's tariff U-turn, Anthony and Piers unpack what's behind one of the fastest stock market rallies in recent memory — and whether it can last.They also dive into the surprise inflation slowdown, what it means for Fed rate cuts, and why the looming US debt ceiling deadline could be the next big market risk. Plus, is “taco trade” the new “buy the dip”?Essential listening for anyone trying to make sense of fast-moving markets, policy shifts, and the psychology driving investor behavior.(00:00) Intro & Key Themes(03:05) What's Driving the Market Rebound(09:03) US Inflation Trends & Fed Rate Cut Hopes(14:56) Trading Psychology: Fear, Risk & Strategy(16:00) The Debt Ceiling Explained - And Why It Matters(24:29) One Market Factor You Might Be Overlooking Hosted on Acast. See acast.com/privacy for more information.

In this career insight episode, Anthony speaks with Mahgul Ansari, an Assistant Portfolio Manager at Premier Miton, about her unconventional path into investment management. Starting out studying modern languages at Oxford University and later qualifying as a chartered accountant, Gul shares how she pivoted into asset management, the challenges she faced along the way, and how she built an edge in the industry by combining linguistic, analytical, and accounting skills.Gul opens up about dealing with rejection, breaking into the industry without a finance degree, and why authenticity and personal branding matter more than ever.(00:00) Gul's Journey: From Languages to Finance(07:22) Navigating Career Challenges and Self-Discovery(16:56) Finding Your Edge in Investment Management(23:50) The Role of a Portfolio Manager(28:34) Personal Branding and Authenticity in Finance(37:46) Diversity and Inclusion in Asset Management(45:45) Exploring Non-Traditional Paths into Finance Hosted on Acast. See acast.com/privacy for more information.

From Shell eyeing BP in a historic mega-merger to 3G Capital's surprise $9.4bn move on Skechers, Anthony and Stephen break down the M&A headlines driving markets this week. They also unpack Sunoco's $9.1bn cross-border play for Canada's Parkland and explain what a “fairness opinion” really means. Essential insight for anyone interested in deals, strategy, and what real money is doing in volatile times.(00:00) Intro & Topics on the Table(02:41) Mega M&A Deal: Shell and BP(24:20) Skechers Acquisition by 3G Capital(32:40) Sunoco's Acquisition of Parkland(36:00) Understanding Fairness Opinions in M&A Hosted on Acast. See acast.com/privacy for more information.

The Fed kept rates on hold - no surprise there. But in this episode, Anthony and Piers dig into the real story: the subtle shifts in language, the rising risk of stagflation, and how Trump's tariff war is clouding the economic outlook. They break down why traders hang on Powell's every word, how markets react before policy changes, and what conflicting data says about where the US economy is headed. Whether you're trying to make sense of monetary policy or sharpen your market instincts, this is the episode that connects the dots, minus the jargon, with all the context.(00:00) Understanding the FOMC Announcement(02:47) Monetary Policy's Impact on Markets(05:52) Decoding Economic Data and Fed's Challenges(08:33) Powell Fires Back at Trump(11:32) Unpacking Changes in the Fed's Statement(16:14) Market Reactions and Future Expectations(18:48) Tariffs, Negotiations, and Market Sentiment(21:10) Interest Rate Futures and Market Predictions Hosted on Acast. See acast.com/privacy for more information.

Meta is back in the crosshairs of the FTC. Could Zuckerberg really be forced to spin off Instagram or WhatsApp? We explore the legal showdown, what it means for antitrust enforcement in big tech, and the potential ripple effects for future M&A deals in Silicon Valley.Then, we head to the UK where private equity giant KKR is circling Thames Water with a potential £4 billion investment. It's a classic case of distressed infrastructure meets sharp-elbowed private capital.Tune in for a breakdown of the business models, political implications, and what these deals say about the future of competition and capitalism.(00:00) Introduction and Overview of M&A Topics(02:44) Meta's Antitrust Battle and Business Model Critique(10:30) FTC's Antitrust Case Against Meta(17:44) Implications of Antitrust Case for Big Tech(25:46) KKR's Acquisition of Thames Water(32:25) Private Equity vs. Nationalization of Utilities Hosted on Acast. See acast.com/privacy for more information.

Anthony and Piers break down the latest U.S. GDP figures that sent headlines into a frenzy, but is the economy really on the brink of recession? This episode dives into the mechanics behind the data, why imports distorted the numbers, and what it really means for the Fed, markets, and your investment outlook. Clear, no-nonsense insight that cuts through the headlines.(00:00) Introduction and Economic Context(02:09) Understanding GDP and Its Implications(06:30) Consumer Sentiment and Economic Resilience(12:34) Market Reactions and Future Projections(19:06) Conclusion and Key Takeaways Hosted on Acast. See acast.com/privacy for more information.