Last week, the price of Bitcoin reached $35,000, its highest level since May 2022. So why has the cryptocurrency woken from its slumber and how far can this recent rally go?

Also, in this week's podcast episode:

• FTX founder Sam Bankman-Fried has been convicted of fraud and money laundering by a New York jury and is set to face up to 110 years in prison!

• Apple's latest earnings disappoint but why context is important when looking at their long-term performance

• US stocks rally sharply this week as US yields dropped on a dovish pivot from the US Federal Reserve

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Connect with Anthony https://www.linkedin.com/in/anthonycheung10/

Connect with Piers https://www.linkedin.com/in/pierscurran/

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Over the next four episodes, we will use the latest deal announcements to better understand why M&A happens. 

We will look at textbook (and non-textbook) deal rationale for acquiring, and selling, which will help you nail interviews and assessment centres.

Each week we will look at three key reasons why a company might go on the hunt for acquisitions, and one reason why a company might be ready to sell.

In the first episode of the series, we will be looking at Economies of Scale and Reacting to Competition – using Shein’s acquisition of Missguided and Google’s $2bn investment in AI company Anthropic. 

We will also be looking at the recent wave of mega deals in the Oil and Gas sector to see how the weight of cold-hard cash acts as a reason to go out and find some acquisitions.

Finally, we will be using Intel and Blackberry to discuss the logic of spinoffs and the rationale behind selling the family silver.

• Sign up for the free M&A Finance Accelerator Simulation https://amplifyme.com/mafa

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In this podcast episode, we take a deep dive into the numbers of Microsoft and Alphabet (Google) who had a mixed reception on Wall Street as the AI battle rages and Cloud competition remains fierce.

The conversation then pivots to more mega-deals in the US energy sector as Chevron looks to buy US oil and gas producer Hess Corporation in a $53bn all-stock deal.

Find out why a little country in South America holds the key for major oil corporations in the US.

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Connect with Anthony https://www.linkedin.com/in/anthonycheung10/

Connect with Piers https://www.linkedin.com/in/pierscurran/

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Are you eyeing a future in investment banking, but puzzled about which sector to choose? 

Join us in this podcast episode as Anthony Cheung and Silvia Magni guide you through the maze of sector selection and explain its impact on your Investment Banking application.

Get insights on:

• Understanding the diverse sector teams

• Exploring the nuances of tech, natural resources, and financial sectors

• The variations among valuation models

• Strategies to showcase your enthusiasm

• A peek into the daily life and the prospective career paths in the industry

Make sector selection work to your advantage in your IBD applications and set yourself apart from the competition!

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Dates for the next M&A Finance Accelerator simulation will be announced via the newsletter!

Connect with Anthony https://www.linkedin.com/in/anthonycheung10/

Conect with Silvia https://www.linkedin.com/in/silvia-magni-3a69181a3/

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A special podcast episode to help everyone who is currently in the midst of applications!

I'm joined by Gauri Duhan, a final-year PPE student at LSE who interned at J.P. Morgan this summer and secured a return offer to join their UK M&A team in the investment banking division.

In this conversation, we cover:

• How to handle applications (quality vs quantity)

• Tackling online tests (numerical)

• Advice for HireVue interviews

• Technical and behavioural interviews (preparation & execution)

• Dealing with pressure at an assessment centre

Here is the list of resources mentioned by Gauri:

https://www.jobtestprep.co.uk/

https://www.assessmentday.co.uk/

https://www.graduatesfirst.com/

https://apps.apple.com/us/app/mimir-mental-math-lite/id416770677

Connect with Gauri https://www.linkedin.com/in/gauriduhan/

Connect with Anthony https://www.linkedin.com/in/anthonycheung10/

Free daily newsletter https://bit.ly/3Oeu4Wk

Free Finance Accelerator simulation https://bit.ly/3GoyV5r

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This week we delve deep into the single, most essential trait that has proven vital across diverse fields - be it trade, academics, internships, or entrepreneurship. 

It's the one characteristic that unites successful traders, top-achieving graduates, and savvy business owners. 

What is it? You'll need to listen to find out!

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Connect with Anthony https://www.linkedin.com/in/anthonycheung10/

Connect with Piers https://www.linkedin.com/in/pierscurran/

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Goldman Sachs reported a 36% drop in third-quarter profits, the bank’s eighth straight quarter of falling earnings BUT eked out a year-on-year increase in investment banking revenues for the first time in almost two years.

Should DJ Sol be hanging up more than his decks? Or is this an effective pivot from the US investment bank which is now over the worst?

Meanwhile, shares in Manchester United slumped after the Qatari group withdrew from their 100% bid for the football club and we review what Birken'flop' means for the IPO market going forward.

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Connect with Anthony https://www.linkedin.com/in/anthonycheung10/

Connect with Stephen https://shorturl.at/cxE36

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Everything you need to know about today's earnings from J.P. Morgan, BlackRock, Citi and Wells Fargo

On The Trading Floor podcast series this week we unpack the first of the major investment banks to report Q3 earnings.

If you're in the process of applying to these firms, don't miss out on this episode. A "must-listen" to significantly enhance your applications!

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Free Finance Accelerator simulation https://bit.ly/3GoyV5r

Connect with Anthony https://www.linkedin.com/in/anthonycheung10/

Connect with Piers https://www.linkedin.com/in/pierscurran/

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In The Deal Room this week the team discuss:

• Citi's decision to sell its $3.6bn China consumer wealth portfolio to HSBC. Find out the strategy behind the deal and what might come next for the UK-listed bank.

• ExxonMobil is embarking on one of the biggest M&A deals of the year. The acquisition represents the first big move of an oil Supermajor in the Permian Basin, the USA’s largest oil-producing region.

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Free Finance Accelerator simulation https://bit.ly/3GoyV5r

Connect with Anthony https://www.linkedin.com/in/anthonycheung10/

Connect with Stephen https://shorturl.at/nuQ59

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• World's biggest bond market hits a wave of selling

• Global bonds at the mercy of Treasuries in an echo of 2020 debt sell-off

• Treasury-bond collapse ranks among the worst crashes in history

Bloomberg has reported losses on Treasury bonds with maturities of 10 years or more had notched 46% since March 2020, while the 30-year bond had plunged 53%. 

Those losses are nearly in line with stock-market losses seen during the worst crashes of recent history — when equities slumped 49% after the dot-com bubble burst and 57% in the aftermath of 2008.

In this podcast episode, we attempt to step out of the hysteria, re-examine what caused this move and look at the effects it may have on US/European banks, debt markets, pension funds, and the private equity community.

If you have an interview or an assessment centre coming up then you MUST listen to this episode!

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Connect with Anthony https://www.linkedin.com/in/anthonycheung10/

Connect with Piers https://www.linkedin.com/in/pierscurran/

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