Alle afleveringen
477 afleveringen, van nieuw naar oud
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MM108: Elon Musk's 'everything app' & the latest US bank earnings
14 april 2023 · 42 min
Early this week, Twitter merged with X Corp. as Elon Musk advances his idea of an 'everything app'. We discuss Musk's obsession with 'X' and where it all began and explore some of the potential barriers to achieving his vision. Lees meer
We then examine the first of the major US banks to report Q1 earnings. It comes as shares in J.P Morgan rose sharply after the firm boosted its outlook for lending profits and said it added $37bn in deposits in the first three months of the year in the wake of Silicon Valley Bank’s collapse.
Find out what this means for JP, the banking sector, the probability of a US recession, and the decisions to come for the Federal Reserve.
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Connect with Anthony https://www.linkedin.com/in/anthonycheung10/
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MM107: Nasdaq 100 moves back into a bull market!
31 maart 2023 · 44 min
The Nasdaq 100 Index surged into a new bull market Wednesday for the first time in nearly three years. Lees meer
Technology stocks have outperformed this year as investors speculate that weakening economic data and the risk of a recession, heightened by recent bank stresses, may prompt the Federal Reserve to stop raising interest rates sooner than expected.
So the big question is can it last?
We also discuss the dire state of global dealmaking, why it's gold's time to shine, the rationale behind the Sergio Ermotti callback at UBS, and why the folk at Klarna are not happy!
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MM106: Deutsche Bank triggers a slide in European bank shares
24 maart 2023 · 32 min
In this episode, Piers and I take a look at the Deutsche Bank whose shares have fallen as much as 15% at the time of recording on Friday, dragging the entire European banking sector with it. In fact, the German bank has now lost more than a fifth of its value so far this month! Lees meer
So what's happened? Will they follow a similar fate to Credit Suisse? Or are they too big to fail?
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Anthony on BBC News this week https://bbc.in/3lHfHQI
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How to make your finance application standout with Bloomberg EMEA Early Careers Recruiter Bethany Anstey
22 maart 2023 · 21 min
In this interview, I'm joined by Bethany Anstey, who is an EMEA Early Careers Recruiter at Bloomberg. Lees meer
In this conversation, Beth shares some invaluable tips for students applying for roles in finance as well as an insight into the culture at Bloomberg, one of the world's premier distributors of financial news and data.
- Introduction
- Common mistakes from applicants
- What makes a candidate stand out
- What is the type of candidate that Bloomberg hires
- The importance of your professional brand
- Steps to find the right role and company to work for
- Tips for networking on LinkedIn and email
Connect with Beth https://www.linkedin.com/in/bethanyanstey/
Connect with Anthony https://www.linkedin.com/in/anthonycheung10/
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MM105: What just happened to Credit Suisse and should you be worried?
16 maart 2023 · 42 min
In this episode, we focus on the Swiss firm Credit Suisse after their shares fell over 30% on Wednesday this week. Lees meer
In fact, the headline of the Daily Telegraph, a major news publication in the UK read, "Swiss bank crash stokes fears of a new global crisis as UK officials scramble to help prop up the bank as the meltdown overshadowed the budget"
Sensational? Or is this really the start of something bigger?
We discuss what triggered the crash, why the shares are now up sharply, how this differs to the recent demise of Silicon Valley Bank (SVB), the potential for contagion in the eurozone and its impact on the ECB, and what to look out for next for both Credit Suisse and the broader global economy.
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Connect with Anthony https://www.linkedin.com/in/anthonycheung10/
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MM104: Silicon Valley Bank (SVB) contagion fears spark a global banking sell-off
10 maart 2023 · 26 min
In this episode, we take a look at what exactly happened to SVB and why the collapse in their share price on Thursday rippled through the banking sector resulting in the largest four US banks losing some $47bn of market value in just one day. Lees meer
Was the move justified? Could one of the larger banks also fall victim to the same issue? We explain some key areas to watch in the coming days.
We also review the major shift in Fed language this week after Fed Chair Jerome Powell stated that the Federal Reserve will likely need to raise interest rates more than expected in response to recent strong data and is prepared to move in larger steps if the "totality" of incoming information suggests tougher measures are needed to control inflation.
Find out what this means for market expectations and why the next 3 days of trading will be critical for global financial markets.
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MM103: The demise of the London Stock Exchange as Arm and CRH chose New York
3 maart 2023 · 39 min
In this episode, Piers and I unpack the headline 'Fears for the future of the London Stock Exchange' as SoftBank and the world’s largest building materials group CRH, shunned the City in favour of New York. Lees meer
We look at where London sits in the context of the global exchanges, what makes New York more attractive and what can the UK government do to stop what has been a gradual decline of the UK's influence over the past 170 years.
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MM102: J.P. Morgan's $1trl target & why good data is bad news for stocks!
24 februari 2023 · 30 min
In this episode, Piers joins me from NYC as we discuss why Morgan Stanley thinks the largest bank in the US could more than double its size in the coming years. We explain how the structure at JPM differs from pure investment banks like Goldman Sachs and the implication this has on their share price and investability. Lees meer
On the macro side, stocks have continued to grind lower as recent strong data out of the US has made market participants think twice about a Fed pivot. Find out what's been going on and why Morgan Stanley think things are about to get a lot worse!
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Connect with Anthony https://www.linkedin.com/in/anthonycheung10/
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Social Media handles:
►Twitter: @amplifytrading @AWMCheung @pierscurran
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MM101: Adani crisis & activist short selling explained
10 februari 2023 · 35 min
Seven key Adani companies have lost at least a combined $110 billion in value after US-based short seller Hindenburg Research alleged improper use of offshore tax havens and stock manipulation by the conglomerate. The Adani Group has rejected the criticism and denied any wrongdoing. Lees meer
In this episode, we explore who is Gautam Adani and Hindenburg Research, how activist short selling works and what have been the repercussions of the accusations for the Indian stock market and the wider economy.
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MM100: BIG tech earnings & why stocks keep on rallying!
3 februari 2023 · 1 uur 3 min
All the major tech firms have now reported and it's been quite the opposite of what you might expect. Meta (Facebook) came out trumps while Alphabet (Google) sank! Lees meer
We deconstruct the tech giant earnings and look at whether or not a bad season for most is a sign of things to come or just a temporary blip for these titans of industry.
Attention then turns to the rally in stocks following the latest US interest rate announcement from the Federal Reserve. Find out what they said and why bank economists of a bearish disposition are getting nervous.
Finally, to mark our 100th episode we are joined by our competition winner Saqib Hussain, a former AmplifyME Summer Analyst who now works at KPMG, who gives us an update on what he's been up to since completing the programme!
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MM099: Microsoft & Tesla earnings and the rise of Citadel
27 januari 2023 · 55 min
In this episode, we explain what you need to know from the first of the big tech companies to report their corporate earnings this season, Microsoft. Lees meer
We dive into the numbers and explain what they all mean and why investors are most interested in the performance of their cloud computing division.
Elsewhere, Citadel has leaped past Bridgewater Associates to be crowned the top hedge fund manager in 2022, making an incredible $16bn profit for investors last year. But who is Citadel and how do they make their money?
We finish on why WhatsApp is getting employees at Morgan Stanley in trouble and why the PELOSI Act has Nancy all stressed out!
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MM098: Investment bank earnings & US debt ceiling explained
20 januari 2023 · 57 min
In this week's episode, we discuss the latest corporate earnings from some of the world's largest financial institutions. Lees meer
Ever wondered what the difference is between the likes of Goldman Sachs, Morgan Stanley, J.P. Morgan, and BlackRock? We break down the difference between investment banks and boutiques and explain how commercial banking and wealth management fits into the picture. Hopefully, it will serve as good intel to help you make more sense of the industry and be better informed for your future applications.
We also discuss the pros and cons of working on the buy-side or sell-side and how that can impact your career progression and earnings.
The final segment is reversed for the US debt ceiling after it was reported that the US Treasury is now taking “extraordinary measures” to meet its debt obligations after the US government hit its $31.4tn borrowing limit. Find out what this means and whether investors should be worried.
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MM097: US inflation cools & the fight for Disney
13 januari 2023 · 47 min
In this episode, Piers and I dissect this week's US CPI report and discuss what it means for the US central bank and the broader market. Lees meer
The release saw some wild intraday moves and in this conversation we look at how the different types of market participants react to this type of information from high-frequency hedge funds to value investors.
In single stock news, we take a look at the fight for Disney as the latest corporate drama pits chief executive Bob Iger against the veteran activist Nelson Peltz. Find out how a proxy fight works and why the magic kingdom is not such a happy place after all!
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MM096: 2023 Market Outlook & Tesla: Zero or Hero?
6 januari 2023 · 58 min
Welcome back to the channel and our first episode of 2023! Lees meer
This week we review how 2022 finished to set the scene for how this year may play out. Breaking down the major macro themes into how that will likely impact stock sector selection for the coming 12 months.
Last year, not many people would have predicted that Russia would invade Ukraine, so we take a look at the potential 'Grey Swan' events for this year.
Finally, we close on Tesla whose shares continue to slide, but has the dramatic decline meant that the EV maker is now trading at a good valuation?
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MM095: Stocks fall as central banks stay hawkish
16 december 2022 · 35 min
Welcome to the final episode of the year! Lees meer
The week was dominated by central bank meetings where the Federal Reserve, Bank of England, and the European Central Bank all raised interest rates by 0.5%, signaling that there is still more tightening to come.
The policy decisions came despite a decline in both US and UK CPI readings, so what exactly is the reason for them to stay hawkish and how might this impact asset prices? We explain all you need to know.
Thanks to everyone in the community for supporting the show, it's hugely appreciated by myself and all the Amplify team.
Wishing you and your family a very Merry Christmas and we'll see you in the New Year!
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CAREER INSIGHT: The ONE standout quality you need to succeed with finance applications!
14 december 2022 · 13 min
For this episode, I spoke with Ben Arnold an investment director in value and European equities at Schroders. Lees meer
Ben's got a really unique story. As a teenager, his number 1 dream wasn't to work in finance but rather to play hockey at the Olympic Games. Shortly after graduating from the University of Nottingham in 2012, he started working in the City part-time at RBS while he trained with the GB hockey team in preparation for the Rio Olympics.
After spending time playing professionally in the Netherlands, he returned to finance and pivoted his career to work in asset management and is now heavily involved in their recruitment selection process.
Ben is a true advocate for social mobility having come from a traditional working-class background and is always a willing candidate to help young people with their career decisions.
In this segment, Ben shares with me his top tips for standing out in both the application process and in the workplace.
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MM094: Goldman Sachs crypto bargain hunt & Credit Suisse raise $4.3bn
9 december 2022 · 12 min
In this episode, I take a look at what Goldman Sachs has to do with crypto. Whether it's picking up extra-institutional volume or seeking recruitment opportunities, the demise of FTX has a silver lining for some of the largest investment banks on Wall Street. Lees meer
Then over to Credit Suisse, whose shares are actually outperforming the broader market today after the Swiss firm raised $4.3bn in a two-pronged capital increase.
Finally, England faces France in the quarter-final of the FIFA World Cup this weekend. Find out who has the better track record and my prediction for the winner!
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MM093: Jerome Powell boosts stocks & what to expect from OPEC+
2 december 2022 · 27 min
Piers returns to the podcast to talk with me about the latest rise in US stocks following hints from Fed Chairman Jerome Powell that smaller rate hikes are coming. In fact, US stocks had their first streak of back-to-back monthly gains since 2021, with a gradual upward trend punctuated by a sharp rally on the last day of November. Lees meer
We also discuss our thoughts on the upcoming OPEC+ meeting which comes amid the EU agreement to place a price cap on Russian seaborne oil. What will this mean for the price of oil? how might Saudi respond? and is the rising number of covid cases in China something to worry about?
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MM092: Fed sees smaller rate hikes coming & the cost of Thanksgiving!
25 november 2022 · 12 min
Happy Thanksgiving to any of our US followers! I have some holiday-related stats to quiz you on to get the episode started this week. Lees meer
Then from a market perspective, I cover what information we learned from the latest FOMC minutes, why the UK is set to be one of the worst performers in the G20 over the next two years, and what caused volatility in the oil market this week.
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MM091: Invest like Warren Buffett & the UK budget explained
18 november 2022 · 58 min
In this episode, we use the latest Berkshire Hathaway 13F to understand some basic principles in managing a stock portfolio. Buffett's buy-and-hold strategy has served him well but the latest filing shows he's moved further into tech, purchasing a $4.1bn stake in the Taiwanese chipmaker TSMC. Is this a new direction for the 92-year-old Oracle from Omaha? Lees meer
Elsewhere, we review the latest UK budget announcement and Piers explains why he thinks the Bank of England should stop hiking interest rates despite inflation hitting 11.1% this week.
Finally, Donald Trump has announced he will run for the US presidency in 2024, vowing "America's comeback starts right now". But first, he'll have to win the Republican Party's nomination. We look at the process and the likelihood of success.
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MM090: FTX fiasco rocks the crypto market
11 november 2022 · 57 min
In this episode, we attempt to unpack what exactly happened in the crypto market this week which was rocked by news about FTX and Binance, two of the world's largest crypto exchanges. Lees meer
The move came as FTX CEO and founder Sam Bankman-Fried, who was hailed as something of a savior earlier this year, was subject to an investigation centering on the possibility that the firm used customers’ deposits to fund bets at Bankman-Fried’s hedge fund, Alameda Research.
What transpired was one of the fastest collapses of a company in recent history. So what went wrong? who's to blame? and what happens next? - we look to explain!
Other topics covered in this episode include, why the S&P 500 posted its biggest one-day rally since 2020 after the latest US CPI report, thoughts on Meta after Zuckerberg slashed 13% of the workforce and admitted he was wrong on strategy, and our initial take on the US mid-term elections.
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CAREER INSIGHT: 'Money Is Everything, Money Is Nothing' with Bilal Hafeez
9 november 2022 · 48 min
In this career insight episode, I am joined by Bilal Hafeez who is the CEO, Head of Research and Editor of Macro Hive. He spent over twenty years doing research at big banks – JP Morgan,Deutsche Bank and Nomura, where he had various “Global Head” roles and did FX, rates and cross-markets research. Lees meer
To mark his 25th year in the industry, Bilal has written an article on the 25 lessons learned from 25 years in finance, covering invaluable lessons on finance, business and life.
In this conversation, we touch on the following 5 lessons:
Money is everything, money is nothing
Failure is the best way to level up
Start with what you fear
Be effective, not efficient
Learn every day or quit
It's rare that you get to have private conversation with such an experienced professional and Bilal's open and honest approach is not only refreshing but incredibly insightful.The conversation will hopefully add great value to those about to start their career, all the way up to people who hold leadership positions in a large organisation or a start up.
Bilal has done them all and shares his best advice!
Check out the full 25 lessons https://macrohive.com/news/25-lessons-from-25-years-in-finance/
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MM089: The Fed & BoE divergence and what it means for markets
4 november 2022 · 41 min
Piers returns to the show and gives his verdict on the big tech earnings and explains why despite their weak performance the S&P continues to hold up. Lees meer
We then delve into the monetary policy decisions this week from the Federal Reserve and Bank of England, both of which raised interest rates by 0.75%. That move itself was not a big surprise but their forward guidance was. Find out why the two major central banks are heading in different directions in the months ahead which could create significant headwinds for the British currency.
Finally, we touch on Elon Musk taking the helm at Twitter and unveiling his idea to charge for a premium $8/mth subscription service. Will this create a new meaningful revenue stream and can Musk turn the social media company around?
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MM088: Tech giants lose $1 trillion in one week!
28 oktober 2022 · 28 min
It's been a BIG week for US tech earnings and one that has seen seismic reactions in the likes of Meta and Amazon. So much so, that the net worth of Mark Zuckerberg has now fallen more than $100bn in just over 13 months. Lees meer
In this episode, I go beyond the headlines to see what really mattered in the earnings from Apple, Alphabet, Amazon, Microsoft, and Meta. My objective is to give you a better insight into what analysts look at in these reports to then make sense of the reaction in their stock price.
Elsewhere, it's been a busy week! Elon is now the CEO of Twitter, Chinese stocks got hammered as Xi Jinping consolidates power, and the British Pound has hit a six-week high as the new Prime Minister Rishi Sunak looks to bring back some fiscal discipline.
I hope you enjoy and check out the links below.
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MM087: Liz Truss resigns & Goldman Sachs restructures again!
21 oktober 2022 · 46 min
First up on the agenda this week is the resignation of UK Prime Minister Liz Truss, marking the shortest premiership in British history. Find out what happens next, the implications for markets, and whether we are about to see the return of Boris! Lees meer
I'm also joined by Stephen Barnett, our Head of Schools, to unpack the announcement from Goldman Sachs this week who are planning a sweeping reorganisation of the firm folding its biggest businesses into three divisions, marking one of the firm's largest-ever reshuffles. Find out the strategy behind the move and implications for Goldman's share price and internal culture.
Finally, we talk about failed IPOs and why Private equity firms are taking the 'Leverage' out of Leveraged Buyout (LBOs).
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MM086: Liz sacks Kwasi & what next for US stocks?
14 oktober 2022 · 52 min
A busy end to the week, as UK Prime Minister Liz Truss sacked her Chancellor Kwasi Kwarteng and announced another U-turn in her government's tax cut plan. Find out exactly what happened and how markets reacted to the latest news. Lees meer
We also tie in the latest developments in the UK bond market after Bank of England Governor Andrew Bailey told pension funds “You have three days to get out". A brave move or asking for trouble?
Finally, Thursday marked one of the largest intraday reversals in the US stock market on record. The initial move lower came after US Core CPI printed at a new 40-year high, but why did we rebound so quickly? Piers explains why the devil is always in detail!
US earnings for your bank applications https://www.linkedin.com/posts/anthonycheung10_students-careers-applications-activity-6986660014237097984-4Xl0?utm_source=share&utm_medium=member_desktop
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CAREER INSIGHT: Tanya Tracey, CEO of GAIN (Girls Are INvestors)
12 oktober 2022 · 19 min
In this career insight episode, I am joined by Tanya Tracey who is the CEO of Girls Are Investors (GAIN), which is a charity that seeks to address the lack of diversity in investment management through partnerships with schools and universities. Lees meer
Tanya has over twenty years of experience in investment banking, investor relations, and diversity and inclusion, having worked at J.P. Morgan, Nomura, and the CFA Institute.
In this conversation, Tanya shares her career journey, working in a male-oriented environment, imposter syndrome, misconceptions about working in finance, and the importance of having role models.
GAIN is a fantastic charity and we are incredibly proud to work with such inspiring women to help bring about change in the workplace!
GAIN Investment Insight Programme http://www.gainuk.org/gain-investment-insight-programme
GAIN Empowerment Investment Internship Programme http://www.gainuk.org/gain-empower-investment-internship-programme
Tanya LinkedIn https://www.linkedin.com/in/tanyatracey/
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MM085: Why Credit Suisse is not the next Lehman Brothers & Elon Musk's U-turn on Twitter
7 oktober 2022 · 1 uur 5 min
In this episode, we discuss what happened to Credit Suisse this week as shares dropped and Credit Default Swaps (CDS) soared amid rumours the Swiss banking giant could be the next Lehman Brothers. But why did the market react so violently and is there any substance to this speculation? Lees meer
Next is Elon Musk, who has thrown in the towel and has revived his commitment to buy Twitter at the original price of $54.50 a share. We look at the possible reasons behind the turnaround and who are the winners and losers in this saga.
Finally, OPEC+ unleashed shockwaves in the global crude oil market by cutting production by the most since the onset of the pandemic. The move puts Saudi Arabia on a collision course with the US, so why are they taking such a risk and who will they turn to for protection?
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MM084: Carnage in UK Bond/FX Markets – What happened, what’s next?
30 september 2022 · 54 min
Topics discussed in this episode Lees meer
Unprecedented Emergency Action: The Bank of England to purchase £80bn long-dated UK Government Bonds to save the Pension industry – But why did they do this, and will it work?
UK Government bond yields spike above 5% in one of the largest market moves in history as traders panic over the sustainability of UK debt – Are these fears rational and where do yields go from here
What is Liability Driven Investment (LDI) and how did It nearly break the UK bond markets this week?
UK Pension funds driven to panic bond selling to cover interest rate swap margin calls. And, what are interest rate swaps anyway?
We lift the bonnet on this week’s Porsche IPO. Was it successful, was it priced correctly, how did the suspect Governance issues result in a discounted share price and what does it mean for Porsche’s future?
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MM083: Chaos at the Bank of England & Our top 3 trading films revealed!
23 september 2022 · 48 min
This week, we discuss why the Great British Pound continues to get hammered. From the split amongst policymakers at the Bank of England to the government setting out the most radical package of tax cuts since 1972. Has the probability of parity against the US dollar become more likely? Lees meer
We also review the latest interest rate announcement from the US central bank and explain why the news was so negative for stocks on Wall Street, examine the decision by the Japanese authorities to intervene in their currency, and ask the question of whether the move by Credit Suisse to split up its investment bank will work.
But the biggest news of all, we reveal our top 3 trading films of all time!
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MM082: Banker bonuses and Goldman's top 4 buy the dip signals
16 september 2022 · 53 min
The UK chancellor is reportedly planning to scrap caps on bankers’ bonuses in a move to attract more talent to the City of London. Find out why the government is doing this and how investment banks manage bonus season. Lees meer
We review this week's US CPI report which acted as a trigger for the Dow to close down more than 1,200 points, marking the worst day so far this year. Why was the move so aggressive and will the Fed now hike 100bps at next week's meeting?
Piers also shares Goldman's four important signals to look for when attempting to buy the dip and we both share one lasting memory of working during the Lehman Brothers collapse to mark the 14th anniversary of one of the most significant moments in stock market history.
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BREAKING: Billionaire Patagonia founder gives away company to fight the climate crisis
15 september 2022 · 10 min
The founder of the outdoor clothing company, Patagonia, has given away 100% ownership of the $3bn company to help fight climate change. Lees meer
Yvon Chouinard, the mountain climber, and unlikely business leader has always placed the planet as the company’s most important stakeholder, committing to give 1% of sales to fight climate change, and embarking on an extensive worn-wear campaign.
Today’s announcement, which sees 100% of the company’s ownership, and profits, irrevocably dedicated to fighting climate change, illustrates Chouinard’s long-standing commitment to protecting the environment through the legacy of Patagonia.
In this short episode, Stephen joins me to explain more background to this incredible story!
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MM081: Kim Kardashian launches PE firm & Stocks rise despite higher rates
9 september 2022 · 56 min
Earlier this week, TV personality and business women Kim Kardashian launched her own private equity firm SKKY Partners with the help of Jay Sammons, a former employee at investment firm The Carlyle Group. Lees meer
Piers and I use this deal to help explain the role that private equity plays in finance, how the industry works and the difference between P.E and venture capital.
On the macro front, we take a look at why stocks are set for their first weekly rise in a month despite the continued tightening of central bank policy and examine the impact of the estimated £150bn energy package announced by the new UK Prime Minister Liz Truss.
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Connect with Anthony https://www.linkedin.com/in/anthonycheung10/
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MM080: Is GBP heading to parity?
2 september 2022 · 59 min
The UK economy is facing one of its toughest economic periods in history. Lees meer
A looming threat of a recession, acute dependence on foreign capital, soaring debt costs, and the rising likelihood that the Bank of England’s independence will be scrutinised under the new Tory leadership have all led to the demise of the Great British Pound.
But how low will the currency go and is there a possibility of it reaching parity against the US Dollar?
In this episode, we also look at the history of currency interventions as the Japanese Yen hit a fresh 24-year low this week reigniting chatter on the likelihood that officials will intervene to support the currency and what to expect at the ECB meeting next week.
The final talking point is reserved for some stock news, as we look at why quant firms are suddenly interested in Warren Buffett's Berkshire Hathaway.
Email Stephen s.barnett@amplifytrading.com
Connect with Stephen https://www.linkedin.com/in/stephen-barnett-0b8b3337/
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MM079: Breaking - Fed's Powell warns against ‘prematurely loosening’ Fed policy
26 augustus 2022 · 10 min
In this breaking news episode, I summaries the main take home points from the highly anticipated speech from the Fed Chairman Jerome Powell at the Jackson Hole symposium. Lees meer
Find out what were the three main comments, how the market reacted and what does this mean for the September FOMC meeting.
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MM078: China slowdown & the revenge of the meme stocks
19 augustus 2022 · 1 uur
In this episode, we focus on the increasing economic challenges being felt in China, who earlier this week surprised the market and cut interest rates for the first time since the beginning of the year. We look at why things are so bad and what might happen next. Lees meer
Next, we turn our attention to the return of the meme stock craze with reports suggesting that short sellers have lost an estimated $1.65bn in this month alone. But what exactly is a 'short squeeze' and a 'call option' and who the hell is Jake Freeman, the 20-year-old college student who made $110mn trading Bed Bath & Beyond!
As ever, you can also expect the regular wrap-up of this week's major stories from Warren Buffett increasing his stake in Apple to Elon Musk briefly causing a 17% spike in Man United shares.
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MM077: US Stocks: Bull vs Bear Debate!
12 augustus 2022 · 1 uur 2 min
In this episode, I go toe to toe with Head of Trading Piers Curran as we put forward our bull and bear case scenarios for the direction of US stocks Lees meer
We also run through some of the major headlines in global markets this week:
- What does the drop in US CPI mean for the Fed?
- The impact of US gasoline prices dropping back below $4
- How impactful is the US Inflation Reduction Act?
- What next for the UK as the economy contracts in Q2
- Why the Druzhba pipeline is something you should know about!
- Elon Musk and another giant share sale
- Disney+ edges past Netflix but can the magic last?
- Pfizer is to buy Global Blood Therapeutics in a $5.4bn deal
- The main event: Bull vs Bear debate
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MM076: The UK is heading for a long & painful recession
5 augustus 2022 · 30 min
In this episode, I fly solo recapping some of the major stories in markets this week. Lees meer
I take a look at why the Pound fell after the Bank of England delivered its largest rate rise since 1995, what the world's largest asset manager has to do with the crypto exchange Coinbase, and the implications of US House Speaker Nancy Pelosi visiting Taipei this week.
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MM075: Do you need coding skills for trading?
29 juli 2022 · 51 min
A slight change up in this week's episode, as I'm joined by Milandeep Bassi, who is the Fintech products lead and full stack DevOps engineer at Amplify. Lees meer
You might be wondering what the hell is that?! So in this episode, we talk about the following:
What do you learn in computer science
The type of characteristics that make a successful programmer
Creating and testing trading algos
The different roles and requirements within a quant trading team
Machine learning and A.I. in finance
Which coding languages are best to learn to get started
Don't worry, I still cover the usual round-up of what's been going on in global markets this week, from the Fed hike and technical US recession to the latest earnings from the tech titans.
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MM074: ECB bazooka & Tesla's lesson in financial engineering
22 juli 2022 · 1 uur 9 min
An incredibly busy week, from Russia resuming critical gas flows to Europe, to one of the biggest ever tech IPO's on the London market being put on hold due to the collapse of the Boris Johnson government, there's never a dull moment in markets! Lees meer
In this episode, we start with deconstructing what exactly happened at the European Central Bank meeting, where interest rates were hiked 50bps, marking the first move higher in 11 years and the biggest since the year 2000. What was said? what on earth is the TPI? what risks are there following the resignation of the Italian PM Mario Draghi? and will any of this even work?!
We then pivot to US earnings season and zone in on the latest reports from Tesla and Netflix. Although Tesla shares have risen since the release of Q2 numbers what's actually going on under the bonnet and is Elon Musk covering up what otherwise are some troubling signs? and we explain why Netflix losing nearly 1mln subscribers in just three months is actually a good thing!
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MM073: Will the Fed hike 100bps & Is Elon Musk in trouble
14 juli 2022 · 48 min
It's been quite an incredible week in global markets. The Euro hit parity against the US Dollar for the first time in 20 years, the Italian government is about to implode, the Tory leadership contest rumbles on, and the big US banks kick off the latest earnings season. However, the show stopper was undoubtedly the latest US CPI reading which came in at a red hot 9.1%, the largest gain since the end of 1981. Lees meer
Piers and I discuss how the market reacted and more importantly how the US central bank may react. On the same day, the Bank of Canada delivered a surprise 100bps rate hike, not only the largest rate hike by them in 24 years but the first G7 country to make such an aggressive hike in this economic cycle. Has Canada now laid the groundwork for a similar-sized move from Jay Powell and the gang later this month?
We then switch attention to the visible feud between Elon Musk and Twitter, the latter who filed a forceful complaint against Tesla boss on Tuesday, alleging he had treated his $44bn offer for the social media company as an “elaborate joke”.
Who wins this battle? has there been historical precedence? Has Elon gone one step too far this time?!
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MM072: Boris Johnson resigns, what happens next?!
8 juli 2022 · 46 min
In this episode, I talk to the Head of Trading Piers Curran about the resignation of UK Prime Minister Boris Johnson. We look at the process behind how the Conservative Party will now elect a new leader, the subsequent timeline, and importantly whether this shift has implications for financial markets. Lees meer
Who is Ben Wallace? Will Rishi win? does this even matter in the context of the economic crisis unfolding under the pressure of surging inflation? We give our point of view!
This leads us into looking at the EUR currency, which this week hit a fresh 20-year low and edges ever closer to parity against the US Dollar. What is creating this renewed downside pressure and why Europe's biggest economy, Germany, is heading into its worst energy crisis since the oil price shock of 1973.
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MM071: US stocks suffer sharpest first-half drop for more than 50 years
1 juli 2022 · 41 min
MM071: US stocks suffer sharpest first-half drop for more than 50 years Lees meer
Yesterday saw H1 2022 draw to a conclusion with the S&P 500 closing down 20.6% year-to-date making the worst first six months of any year since 1970.We discuss why stocks have had such a bad year and delve deeper into the diverging performances of the different equity sectors. For example, exploring why the energy sector is up over 30% whilst the Consumer Discretionary sector is down over 30%. We discuss how the bounce in stocks last week was nothing to do with fundamentals and was actually driven by quarter end rebalancing.
We also discuss equity and debt capital markets and how the IPO space has collapsed in 2022 with funds raised in US IPOs at its lowest since 1999! Finally, we discuss private market capital raising and how the FinTech world is being forced to raise capital at much lower valuations than previous rounds and how this is impacting investor appetite and sentiment.
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MM070: Biggest Fed rate hike since 1994. But are they making a mistake?
16 juni 2022 · 37 min
Yesterday the US Federal Reserve hiked interest rates by 0.75% in another hawkish pivot in their on-going quest to tame inflation. They also said they intend to raise interest rates a further 1.75% across their remaining four meetings in 2022 Lees meer
We discuss the market fallout in the aftermath of this Fed announcement as stock markets initially bounced as Powell said he did not expect adjustments of 0.75% to become common.
However, this morning the risk-off continues:
The S&P hits bear market territory down 23% from its November 2021 high. The Nasdaq is now down 33%. The US Dollar continues to rally testing the 1.04 handle vs the Euro, GBPUSD hits a 20 month low and USDJPY is trading at a 20 year high.
We finish with a discussion about the recent cryptocurrency capitulation and discuss the best mindsets around how to deal with trades that are losing you money.
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MM069: Apple CarPlay. The next big revolution or just tech hype?!
10 juni 2022 · 48 min
We've had Apple's Developer event this week and while people are most obsessed with augmented reality technology we focus on the less sexy software side of the business! Namely, Apple CarPlay and Apple's move into finance by offering loans directly to consumers for its new buy now, pay later product. Lees meer
Will Apple's refresh of CarPlay open up a new substantial revenue stream for the tech giant or is this just tech enthusiasts getting ahead of themselves?
Billionaire investor Ray Dalio is also back in the spotlight betting on a sell-off in corporate bonds this year underscoring the bearish view of Bridgewater and their assessment of what rapidly rising rates will do to the global economy.
We finish with Christine Lagarde, the President of the European Central Bank who has paved the way for a series of rate rises, starting with a quarter-percentage point move in July and raising the prospect of a bigger half-point shift in September.
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MM068: Is GBP heading for an "existential" crisis?!
1 juni 2022 · 46 min
This week Bank of America put out a note suggesting that investors should hedge for an “existential” sterling crisis as the British currency faces struggles usually seen in emerging markets. Lees meer
What supports this pessimistic view and is it a credible argument or simply a sensational conclusion to generate broad appeal in the media?
We then shift our focus to crude oil where prices have briefly touched $120 a barrel this week as the conflict in Ukraine intensifies and the EU has agreed to pursue a partial ban on Russian oil.
Is this latest round of sanctions a big deal? and find out why the art of political deflection is well and truly underway!
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MM067: Are US recession risks overblown?
27 mei 2022 · 40 min
In this episode, Piers and I take a look at comments from Jamie Dimon and Brian Moynihan, where the CEO's of J.P. Morgan and Bank of America softened their tone on a recession and how it may be different from episodes experienced in the past. Lees meer
We also discuss how the UK Chancellor is engineering his windfall tax on oil and gas companies, the change in tactics from the Chinese government in the communication of their economic outlook, and why Saudi Arabia still wants to be mates with Russia despite pressure from the West.
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MM066: Apple the next BIG short & is ESG a scam?!
19 mei 2022 · 49 min
The Dow dropped 1,100 points on Wednesday, marking its biggest decline since 2020 as the sell-off this year on Wall Street intensifies. Is this the beginning of the end or are we just getting started? Lees meer
In this episode, Piers and I look at some troubling signs from US retailers Target and Walmart this week and what their performance tells us about the macro environment.
Meanwhile, one of the biggest headlines for single stocks was that the infamous investor Michael Burry of the 'Big Short' now has Apple in the crosshairs. Find out how his hedge fund is executing his bearish view in what he has described as the "greatest speculative bubble of all time in all things".
Finally, we talk ESG. A relatively new investment class in the asset management world, we look at where it sits in the investment spectrum and why Elon Musk thinks it's a scam!
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MM065: What's behind the TERRA-fying moves in crypto?
13 mei 2022 · 51 min
The price of bitcoin briefly fell below $26,000 this week, hitting its lowest level in 16 months. The move came after a collapse in Luna as TerraUSD struggled to regain its Dollar peg. Find out what purpose these 'algorithmic stablecoins' serve, what caused them to break down, and what it means for institutional adoption going forward. Lees meer
We also catch up on what has been another brutal week across the asset class spectrum with YTD losses in the Nasdaq 100 now over 27%, and find out why Italian Prime Minister Mario Draghi wants to set up his own cartel!
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MM064: Why have stocks tanked this week?!
6 mei 2022 · 48 min
On Thursday, the Nasdaq closed the session down 5%, marking the biggest single-day plunge since June 2020. YTD stocks like Netflix are now down nearly 70% and even tech giant Amazon has shed over 30% in the past four months. Lees meer
So why has the selling pressure intensified this week? What should we take away from the comments from Fed Chair Jerome Powell at the FOMC meeting and is a recession now all but a foregone conclusion?
In this episode, we aim to address these questions and tackle the big one - What happens next?!
Piers LinkedIn https://www.linkedin.com/in/pierscurran/
Anthony LinkedIn https://www.linkedin.com/in/anthonycheung10/
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