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
67. Finance, Philosophy, and the Yen Carry Trade feat. John Normand
We often talk about institutional investors as the allocators of capital to the public and private markets. They are huge, active participants driving supply and demand dynamics in the fixed income and equity markets, and they often make sizable investments as LPs in private equity and private credit funds. But what exactly are they trying to accomplish, and why?
We sat down with John Normand --- the former head of Cross-Asset Strategy at JP Morgan and the current head of Investment Strategy at Australian Super --- to discuss investment strategy at a superannuation fund (what we in the US think of as a "pension fund"). John is one of our most accomplished and distinguished guests to date. Not only does he explain the mechanics of defined benefit / defined contribution plans, but he also shares his philosophical perspective on the ethics of investing, his current views on the macro environment, and a crash course in one of the staples of fixed income markets: the Yen carry trade. This episode is a must listen for anyone who wants to understand how some of the biggest allocators of capital in both the public and private markets approach investment strategy.
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