Market Maker

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

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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

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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

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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

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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

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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

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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

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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

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