Trump’s Tax Bill: What’s In It, How It Could Pass, and Why It Matters for Markets
By Jen Saarbach & Kristen Kelly, Co-Founders of The Wall Street Skinny Last week on The Wall Street Skinny, we sat down with Congressman Seth Magaziner to dissect the tax proposal that just passed the house by one vote, and the structural debt risks that aren’t getting enough airtime. Here’s a breakdown of what you need to […]
Top 10 Tips for Turning Your Summer Internship into a Full-Time Offer
By Jen Saarbach & Kristen Kelly, Co-Founders of The Wall Street Skinny Jen here! For those of you who know me, many will recall that I didn’t get the return offer from my junior year summer internship. Yet only five years later, I found myself in charge of the all the summer interns rotating through the desks on the trading floor at the exact same firm I’d once […]
Why the Market’s Rebound Doesn’t Mean Tariff Pain Is Over
By Jen Saarbach & Kristen Kelly, Co-Founders of The Wall Street Skinny Markets have been on a rollercoaster following the tariff announcements (Jen has aged in dog years). Yet major equity indices have rebounded to levels from before tariffs were first introduced. That might seem reassuring…but it shouldn’t be. The truth is, the real economic impact of the tariffs hasn’t hit yet. And the reason is […]
Zuckerburg Considered an Instagram Spin Off…What the Heck is a Spin Off?
By Jen Saarbach & Kristen Kelly, Co-Founders of The Wall Street Skinny There’s been renewed buzz about Big Tech breakups after a courtroom reveal: Mark Zuckerberg considered spinning off Instagram in 2018 over fears of antitrust scrutiny. The news surfaced during a high-profile trial in Washington that’s widely seen as the first real test of […]
Why is Yale’s Endowment Liquidating Its Private Equity Portfolio?
By Jen Saarbach & Kristen Kelly, Co-Founders of The Wall Street Skinny When you learn about institutional investors, you’re bound to come across the “David Swensen” or “Yale Endowment” model. David Swensen, the former CIO of Yale’s Endowment, pioneered the asset-class based allocation theory that many capital allocators still use today. And now, we’re seeing […]
Who Is Winning the Trade War: US or China?
By Jen Saarbach & Kristen Kelly, Co-Founders of The Wall Street Skinny Amidst the rollercoaster of the US’ tariff standoff with China, the Chinese RMB fell to an 18-year low. Some pundits pointed to this as a signal that the US was prevailing in weakening China through its tariff policies, which have yet to be finalized. […]
Basis Trade Blow-up: The REAL Culprit behind the Bond Market Chaos?
By Jen Saarbach & Kristen Kelly, Co-Founders of The Wall Street Skinny There’s been considerable speculation that last week’s bond market chaos wasn’t caused by a loss of confidence in U.S. assets due to tariff policy announcements. Rather, some argue, massively levered hedge funds unwinding something called “the basis trade” was perhaps to blame. Bloomberg […]
Why Private Equity Panicked: The 4 Ripple Effects of Tariff Talk
By Jen Saarbach & Kristen Kelly, Co-Founders of The Wall Street Skinny At first glance, you might think private equity firms wouldn’t be too fazed by Trump’s proposed tariffs. After all, PE is a long-term, illiquid asset class. Investors can’t check their performance minute-to-minute like they can with public stocks. But you’d be wrong. The […]
What Made Trump Blink? The Treasury Market’s Quiet Power Move
By Kristen Kelly & Jen Saarbach, Co-Founders of The Wall Street Skinny We think the Treasury market was the ultimate impetus behind the 90 day pause in reciprocal tariffs. Why? Let’s get back to macro theory. If there’s a “normal” negative shock to the U.S. economy say, a spike in oil prices and it really […]
Elon’s $33 Billion xAI–X Deal: Valuation Tricks, Ownership Dilution, and Why It Matters
By Kristen Kelly & Jen Saarbach, Co-Founders of The Wall Street Skinny Elon Musk just bought Twitter…again. But this time, he bought it from himself — sort of. His artificial intelligence startup, xAI, acquired X (formerly Twitter) for a headline valuation of $33 billion in an all-stock deal. So, if he paid $44 billion for […]