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
117. Industry S1E4 | Non Farm Payrolls Basics, FX Trades, Wrong Way Trades, and More!
In this episode, Kristen and Jen delve deep Season 1 episode 4 of HBO Max's Hit show, "Industry".
They kick things off by breaking down the significance of the non-farm payrolls report and its sweeping impact on various market instruments like bonds, stocks, gold, and the dollar. They dissect Harper’s misbooked cable trade and explore the severe repercussions it has on both her career and the firm's PNL (Profit and Loss). From discussions on exchange rates, jobless claims, and the Federal Reserve's dual mandate, listeners get a comprehensive summary of real-world finance mechanics.
As the drama unfolds, the podcast tackles critical financial strategies and mistakes, such as the implications of currency risk management, market expectations, and the ethical standards within trading floors. They evaluate Harper's ill-conceived decision to cover up her error by leveraging a risky NFP forecast, highlighting her missteps and the importance of immediate transparency in high finance.
Additionally, Krista and Jen offer insights into the dynamics between front office and back office roles, presenting a nuanced look at the challenges and hierarchies within investment banking.
The episode juxtaposes the intense financial maneuvers with the personal dramas of the characters, giving listeners both an emotional and educational experience. From understanding the rigorous trust required between managers and analysts to the sophisticated financial concepts and ethical standards essential for a trading career, this episode packs a wealth of knowledge on how real-life financial markets operate, all while keeping you entertained thanks to HBO's dramatic storytelling.
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