Market Maker

Anthony and Piers return to break down a busy start to 2026. They cover Wall Street’s Q4 earnings, where Morgan Stanley shines amid a wave of tech-led bond issuance, while J.P. Morgan and Goldman show mixed results. They also dig into Trump’s proposed cap on credit card interest, his DOJ probe into Fed Chair Powell, and the implications for central bank credibility. Oil markets react to rising ten...

2026 could be a historic year for the IPO market with over $3.6 trillion in expected valuations hitting the public stage. In this episode, we break down the hottest and most talked-about names in the pipeline: SpaceX, OpenAI, Anthropic, Stripe, Revolut, Canva, Databricks, and TikTok US. We discuss what makes SpaceX such a unique and defensible business, why OpenAI’s losses and leadership noise mig...

Traditional finance recruitment is at a breaking point. With a 0.7% acceptance rate at major banks and 90% of applicants using AI to "game" the system, the CV has become a redundant data point. In this episode of the Market Maker Podcast, Chief Content and Culture Officer Anthony Cheung and Lara Montefiori, VP of Product, discuss how to solve the "AI Volume Crisis." They explor...

In this episode, Anthony Cheung is joined by Harvey Bracken-Smith, founder of the Personable podcast and incoming Goldman Sachs summer intern, to unpack his remarkable journey from a small island in Jersey to Eton, Duke University, and beyond. Harvey shares insights on overcoming imposter syndrome, the power of consistency, building a personal brand, and how he’s managed to interview billionaires,...

In this final Market Maker markets episode of the year, Anthony and Piers deliver a global recap of 2025’s biggest winners, losers, and trends. From the AI-driven tech shake-up and Wall Street’s banking boom to the surprise surge in Spain’s stock market, they break down the key moves. Looking ahead to 2026, will inflation, a Fed leadership transition, or even a ‘Great AI Energy Blackout’ derail th...

What does it really take to make the leap from analyst to portfolio manager at one of the world’s largest asset managers? In this episode, we sit down with Ji Young Park, Senior Portfolio Manager at Amundi, to explore her two-decade journey in the investment world. Ji shares what the role of a PM truly entails, from navigating decision-making under uncertainty to balancing technical expertise with...

It’s our most anticipated episode of the year! Stephen Barnett returns to grade our 2025 predictions and lay out the playbook for 2026. We break down the massive $4.2 Trillion year in M&A, analysing why deal volume dropped while deal value skyrocketed. We also do a deep dive into the "Indigestion" facing Private Equity, with 50,000 businesses owned and nowhere to sell them, and why P...

In this episode, Anthony speaks with Ela Saruhanoglu, an LSE Management student who secured a full-time investment banking role at J.P. Morgan for 2026 after converting her summer internship. Despite not having a traditional finance background or spring week, Ela shares how she built technical skills from scratch, leveraged curiosity, used productivity hacks, and developed a mindset that set her a...

It’s the "final battle for the soul of Hollywood." In this breaking episode, we bring back Stephen Barnett to break down the Netflix vs. Paramount war for Warner Bros. Discovery (WBD). Stephen breaks this deal down like a Hollywood movie script—literally. We cover the Backstory (Zaslav’s failure), the Cast of Characters (from "nepo-baby" David Ellison in his Ferrari to the &quo...

In this M&A edition of Market Maker, Anthony and Piers break down Medline’s potential $5 billion IPO, the biggest of the year, and what it signals for private equity exits and the 2026 deals landscape. They also explore Amazon’s bold entry into the AI chip race with Tranium 3, how it stacks up against Nvidia and Google, and what it means for cloud dominance. Plus, OpenAI hits the panic button...

Big tech is stumbling while pharma stocks surge, what does that mean for markets heading into 2026? In this episode, Anthony and Piers unpack why Nvidia, Microsoft, and Amazon are dragging, while Eli Lilly and Merck lead a surprising rotation. They also explore shifting Fed rate cut expectations, conflicting US labor data, and what it all signals for the S&P 500’s next move. We also break down...

This week, we're diving into a flurry of major M&A activity from GE’s $2.3B healthcare tech acquisition to Violia’s $3B hazardous waste deal and a massive offshore wind farm stake sale by Denmark’s Ørsted. But the spotlight is on Warner Bros. Discovery, where a high-stakes bidding war is heating up. With Paramount, Netflix, and Comcast all circling, Anthony and Piers unpack why the media g...

Ever wondered what asset management actually means? In this clip, we sit down with Ben Hayward, CEO and founding partner of TwentyFour Asset Management, to unpack the industry in a way that’s clear, practical, and easy to follow. From how investment funds are built to what fund managers actually do all day, Ben explains the difference between active and passive investing, breaks down different ass...

This week on the Market Maker podcast, Anthony and Piers spotlight Goldman Sachs' standout year in M&A, exploring how the bank has pulled ahead of rivals with a $1.3 trillion deal volume and a 34% market share. They break down the strategy behind Goldman's dominance, from boardroom relationships to sector expertise. The episode also dives into the $25 billion all-stock "merger of...

In this week’s Market Maker from AmplifyME, Anthony and Piers unpack Nvidia’s blockbuster earnings and what they signal for markets heading into year-end. Is the company’s explosive growth sustainable, or are signs of overextension starting to show? They explore concentration risks, energy bottlenecks, and the AI infrastructure race, while also connecting the dots between macro sentiment, crypto m...

Are you a student or early-career professional trying to decide between a bulge bracket or boutique investment bank? In this episode of the AmplifyMe Market Maker podcast, Anthony Cheung and Silvia Magni break down what really sets these firms apart, from business models and deal flow to team structure and day-to-day responsibilities. They also explore how each path impacts your training, career d...

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. T...

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 mu...

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 pre...

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...

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,...

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...

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...

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 transit...

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"...