The Wall Street Skinny

The Wall Street Skinny

If Bloomberg and Bravo had a baby. Join us -- Kristen and Jen -- two former Morgan Stanley and Lehman Brothers investment bankers who take the most complex deals, market moves, and stories in finance and distill them into what actually matters. From conversations with the biggest names in investing to deep dives people can’t stop sharing (not to mention the occasional HBO Industry red carpet), this is the show Wall Street is obsessed with.

Episodes

Ex-Morgan Stanley Bankers' "Yesteryear" HOT TAKES: Trad Wives vs. Career Women

July 18, 2026 • 74 mins
We're talking about the buzziest --- and most controversial --- book of the summer: "Yesteryear" by Caro Claire Burke. It poses a question no one's brave enough to answer: are trad wives and career women fundamentally at odds? Or are they two sides of the same coin, minted by a bigger system that profits from their fight? As two Wall Street veterans recently profiled in Bloomberg for our new career as "finance influencers", we H...
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How AI is Repeating the Exact Mistake that Bankrupted Enron | 50-Year Power Insider

July 16, 2026 • 47 mins
With hyperscalers like Meta, Google, Amazon and SpaceXAI burning through cash, we decided to answer the question underneath all of it: what is this money actually buying? In this episode we start high level with a primer on the AI ecosystem or what Nvidia's CEO Jensen Huang calls the "five-layer cake" of AI — energy, chips, infrastructure, models, applications. We get into the vocabulary everyone uses and nobody defines: wha...
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Mindy Kaling's "Not Suitable for Work": Our Hot Takes on the Show About Investment Banking in NYC We've Been Waiting For

June 14, 2026 • 72 mins
Send us Fan Mail Mindy Kaling's new sitcom "Not Suitable for Work" just dropped, and we have thoughts. We are two Wall Street veterans breaking down everything the show gets right — and wrong — about what it actually looks like to show up as a first-year analyst at a bulge bracket investment bank, navigate office politics (and romance!), and try to build a life in New York City on a salary that sounds impressive until y...
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How Google Front-Ran SpaceX with a Record Breaking $85 Billion Equity Raise

June 11, 2026 • 23 mins
Send us Fan Mail While everyone's been fixated on the SpaceX IPO, Google quietly pulled off the largest equity offering in history—roughly $85 billion—and basically front-ran the entire market to do it. In this episode of The Skinny on Wall Street, Kristen and Jen break down why a cash-printing machine like Alphabet would raise money at all, and why they did it in the most fascinating way possible: a Berkshire Hathaway ...
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Spotify Executive: How to Become a $100B Company When Everyone Expects Your Product Free

June 10, 2026 • 41 mins
Send us Fan Mail We've done the finance of Industry, the finance of Succession, the finance of Belle Burden's Strangers — but we've never done the finance of CREATORS. So when Spotify invited us to their Investor Day, we knew we had to sit down and ask the question every aspiring musician, podcaster, and Instagram creator is obsessing over: in a world where everyone wants to be a creator, how does anyone actually get paid?In ...
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SpaceX Just Rewrote the Rules of the Stock Market (And Most People Had No Idea)

June 6, 2026 • 31 mins
Send us Fan Mail In this episode, we dig into one of the biggest market questions hiding behind the hype around mega IPOs: what happens to passive index investors when companies like SpaceX, Anthropic, and OpenAI go public?  We ask why the VIX and major indices like the S&P 500 and Nasdaq look calm, while single-name stocks like Tesla are showing much higher implied volatility, and why the spread between index volatility a...
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Ex-Morgan Stanley Bankers: "Strangers" How Much Belle Burden's Husband Was Actually Earning

June 3, 2026 • 42 mins
Send us Fan Mail No one is talking about the insane thing that's happened to Big Law partner compensation over the past decade — and how it stacks up against Wall Street. In this deep dive we broke down EXACTLY what's going on. What started as an attempt to quantify how much Belle Burden's husband — from the cultural phenomenon Strangers — was actually earning during their marriage, after he left Davis Polk and la...
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Ex-Morgan Stanley Bankers: "Strangers" by Belle Burden Part 1 | Our Initial HOT TAKES

May 27, 2026 • 51 mins
Send us Fan Mail Two weeks ago, one of the most powerful women on Wall Street asked us to weigh in on Belle Burden's bombshell memoir: "Strangers". As two women who've lived and worked in every world this book touches — from raising three kids in New York City to working on Wall Street to growing up in Massachusetts and spending summers on Martha's Vineyard — we're uniquely positioned to read between the lines of a stor...
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Hedge Funds Want the Equity in Your Home, feat. Tacora Capital Founder Keri Findley

May 26, 2026 • 40 mins
Send us Fan Mail In this episode we dig into the state of the American consumer's balance sheet, which on paper isn't broke but is increasingly "boxed in." We walk through eye-opening Federal Reserve data: total household debt hit an all-time high of $18.8 trillion in Q1 2026 (up $4.6 trillion since pre-COVID), credit card balances peaked at $1.25 trillion with rates north of 20%, and while headline wages are up roughly 32% since 2...
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$53 Billion Hedge Fund Chief Strategist: The Next Market Shock Is Hiding in Plain Sight

May 14, 2026 • 55 mins
Send us Fan Mail We sat down with Elizabeth Burton, the new Chief Strategist at Fortress, one of the world’s biggest and most respected hedge funds, to ask what actually matters most in this market — and her answer might surprise you.This is the same Elizabeth Burton who, back in 2020, made the call that inflation would be sticky, not transitory — while much of the market, and even the Fed, was still arguing the o...
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Burry Left in a Hurry! The Loophole GameStop Could Use to Pull Off Buying eBay (10x its Size)

May 8, 2026 • 24 mins
Send us Fan Mail Michael Burry just dumped all his GameStop shares. eBay reportedly deactivated Ryan Cohen's account. And the $56 billion "takeover" GameStop pitched on CNBC? It would actually have eBay shareholders paying for most of it themselves. We're back to break down the latest twists in the GameStop–eBay drama — and why this deal is structured unlike almost any takeover Wall Street has seen. In this episode, Kri...
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GameStop Just Bid $56 Billion for eBay. What is ACTUALLY Going On????

May 5, 2026 • 17 mins
Send us Fan Mail 🚨 EMERGENCY EPISODE: GameStop just made an unsolicited $56 billion bid for eBay, and the math is NOT mathing. After watching CEO Ryan Cohen's bizarre live CNBC interview with Andrew Ross Sorkin (where he kept deflecting questions with answers like "it's on the website"), we hit *record* immediately to break this down.Kristen, our resident investment banking, PE, and M&A expert, walks through why this deal defi...
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Every New Fed Chair Has Crashed the Market. A New One is Coming May 15th

April 30, 2026 • 48 mins
Send us Fan Mail Jerome Powell's term as Fed Chair ends May 15th, and his likely successor Kevin Warsh is poised to walk into the most fractured Fed since 1992. In this episode, we're breaking down what actually happened at Powell's final meeting, who the dissenters were and why, and what it tells us about the Fed Warsh is about to inherit. But the bigger question we're wrestling with is this: what does Kevin Warsh actually want to...
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Financial Times Reporter TELLS ALL: Sujeet Indap on Why Private Credit is Worse than Credit in 2008 | Caesars Part 3/3

April 25, 2026 • 46 mins
Send us Fan Mail In Part 3 of our Caesars Palace Coup series, we're back with Sujeet Indap of the Financial Times — co-author of the definitive book on the $30 billion LBO disaster — to connect the dots between 2008's creditor-on-creditor violence and the private credit tremors rattling markets right now. Caesars itself is back on the auction block, with Tilman Fertitta's Golden Nugget circling alongside a potential man...
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Restructuring 101: How Private Equity Pits Debt Investors Against Each Other | Caesars Part 2/3

April 20, 2026 • 45 mins
Send us Fan Mail This is Part II of our Caesars Palace deep dive, and honestly, this is where things get truly unhinged. If Part I was the setup — the $30 billion LBO, the financial crisis, and the private equity firms scrambling to keep the lights on — this episode is the masterclass in what happens when the knives come out. We're breaking down the mechanics of distressed debt investing, restructuring, and bankruptcy. ...
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Private Equity Knows Something Private Credit Doesn't | Caesars $30B LBO is the Playbook | Caesars Part 1/3

April 16, 2026 • 49 mins
Send us Fan Mail Private credit is the crisis everyone's watching, but the real story -- and the one no one has been focused on -- is what private equity is doing behind the scenes.In Part 1 of our 3-part series, Kristen and Jen break down the $30 billion leveraged buyout of Caesars by Apollo and TPG, the deal that became the blueprint for what we now call "creditor-on-creditor violence" and flipped everything everyone thought they...
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Morgan Stanley's Head & CIO of Private Equity Solutions: The Ultimate Deep Dive into PE Investing

April 11, 2026 • 66 mins
Send us Fan Mail Buckle up, because this week we're sitting down with Neha Champaneria Markle, who runs the Private Equity Solutions group at Morgan Stanley Investment Management.Neha walks us through the entire private equity landscape and answers the questions you've been dying to ask an insider including: - Is "AI is going to destroy software and therefore private equity"? - Why are fundraising cycles getting longer?- ...
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Wall Street is Watching Something More Concerning than Oil

April 1, 2026 • 42 mins
Send us Fan Mail Everyone's been freaking out about oil and stocks, but the scariest thing this past week actually happened in bonds, and almost nobody was talking about it. Last week the US Treasury held three auctions that were utter disasters, with dealer takedown more than double its 12-month average — worse than the tariff panic of April 2025. We get into what that means and why it matters.Then we get into the viral Fort...
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Private Credit: Even Apollo's Trapped Investors. Here's Exactly What You Need to Know

March 28, 2026 • 53 mins
Send us Fan Mail Private credit is all over the headlines — and all over your social media feed. Apollo just gated redemptions, Moody's stripped KKR's credit fund of its investment grade status, and Bill Maher is talking about it on late night TV. But what's actually going on beneath the panic? In this episode, we break down the alphabet soup of fund structures — publicly traded BDCs, private BDCs, interval funds &mdash...
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Private Credit UPDATE: Is this 2008 all over again?

March 12, 2026 • 50 mins
Send us Fan Mail If you read the headlines about Private Credit, it feels like we're on the verge of another Global Financial Crisis. So, are we?  In this Private Credit "state of the union" episode, we break down the structural differences between today's private credit market and the pre-GFC banking system, why the "private" in private credit makes it so hard to know how deep the problems actually go, and whether the knock-o...
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