The Wall Street Skinny

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Managing the wealth of the world's richest clientele is an exciting, prestigious, high stakes business. We sat down with Tony Abbiati, CEO of SCS Financial, an ultra high net worth private wealth management firm to understand the business model of RIAs (Registered Investment Advisors) vs. banks and broker dealers, the demands and challenges of these clients, the path to breaking into the business and achieving success, and the crazy things you may have to do in the name of client service!
Tony co-founded SCS Financial Services in 2002. He has over 22 years of experience in the investment business. Prior to SCS, he was a Vice President in the Private Wealth Management Group of Goldman Sachs. Tony began his career at Biogen, Inc. as a process engineer. Tony is actively involved in Year Up, a Boston based non-profit focused on empowering urban young adults. Tony earned a BA in Biochemistry from Bowdoin College and an MBA from Duke University’s Fuqua School of Business.

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Our content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice.
Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... See full disclos...

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Season 2, Episode 5 titled Kitchen Season, kicks off with a discussion on the intricacies of investment banking promotions, specifically focusing on the elusive Managing Director (MD) title. Kristen and Jen explore how promotions in finance are not linear and often depend on numerous factors including firm politics, desk performance, and the candidate's rockstar qualities. They dissect Rishi’s predicament, comparing the rapid ascent of star traders versus those who languish in executive director roles for years.

The conversation then shifts to the critical implications of mergers and acquisitions, highlighting a potential Amazon and FastAid deal that could spell disaster for smaller competitors like Rican. As Gus finds himself privy to insider information in his political role, the stakes rise significantly for Jesse and Harper’s financial strategies. Kristen and Jen break down the potential fallout from these corporate maneuvers and what it means for the characters involved.

Listeners are then treated to an analysis of the recruitment strategies employed by investment banks, illustrated through Robert's experience at Oxford. They discuss how top-tier firms entice the brightest minds with promises of prestige and financial rewards, revealing the high-pressure tactics used to lure in future bankers. This episode is a must-listen for finance enthusiasts as it intricately ties personal struggles with professional growth in the high-stakes world of investment banking.

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Start your FREE TRIAL of Training The Street's Turbo Macros HERE

Our Investment Banking and Private Equity Foundations course is LIVE:
Or for our "Express Workout", our one hour top 5 technicals you must know for investment banking Masterclass, purchase for $49 HERE
Our content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice.
Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... See full disclos...

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This week on The Wall Street Skinny, we’re diving headfirst into one of the most volatile weeks in recent memory—and we brought backup. After a whiplash-inducing reversal in the bond and equity markets, Jen and Kristen break down how the tariff announcements are rippling through rates, treasury auctions, and investor sentiment. From the Fed’s shrinking balance sheet to the rising fear that the U.S. may be losing its “flight to quality” status, we unpack what’s really happening beneath the headlines—and why the bond market might be the biggest canary in the coal mine.

Then, we’re joined by legendary investor Steve Eisman—yes, the Steve Eisman portrayed by Steve Carell in The Big Short—for a candid conversation about the state of the global economy, what everyone’s missing in this moment of policy upheaval, and why he’s not panicking. We get his take on the implications of Trump’s tariffs, the fate of the U.S. dollar, and what it would actually take for the Fed to step in meaningfully. Steve also shares how he spotted the subprime crisis before anyone else, and why he’s still staying cool in today’s environment of uncertainty and anxiety.

Whether you’re an investor trying to make sense of the macro crosswinds or a Wall Street hopeful wondering how the system reacts in real time, this episode is packed with hard-earned perspective, market wisdom, and—yes—a few deep cuts from Battlestar Galactica. Stay tuned to hear how Steve really feels about being played by Steve Carell, and why sometimes the best strategy is to zoom out, shut off CNBC, and not sell your soul to the volatility gods.

Visit Vanta.com/wallstreet for $1,000 off

Start your FREE TRIAL of Training The Street's Turbo Macros HERE

Our Investment Banking and Private Equity Foundations course is LIVE:
Or for our "Express Workout", our one hour top 5 technicals you must know for investment banking Masterclass, purchase for $49 HERE
Our content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice.
Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... See full disclos...

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This week on The Wall Street Skinny, we dive headfirst into the chaos that’s been roiling the markets—and specifically why what's happening in the bond market has investors spooked. Treasury auctions, bond yields, the dollar, and gold are all flashing red, and we break down exactly why. Kristen turns the mic to Jen, who spent nearly a decade on the interest rates desk at Morgan Stanley, Lehman, and Barclays, for an explainer on what exactly is going on in the bond markets and what it means.

We unpack the mechanics of recent treasury auctions, why foreign demand may be evaporating, and what that means for the U.S. government’s ability to finance its ballooning debt. If you've ever glossed over headlines about yield curves or direct bidder participation, this episode connects the dots—from tariff policy and inflation fears to bond market dysfunction and reserve currency status. We also tackle the growing concerns around private equity and private credit, where volatility may be hidden under the surface due to lack of mark-to-market transparency.

And while it may sound like doom and gloom (spoiler: Jen is not sleeping well), we’re here to arm you with clarity—not panic. Whether you're a finance student trying to break in, a junior banker watching the headlines, or a PE associate wondering how this impacts your portfolio companies, this is your crash course in macro stress, treasury dynamics, and the unintended consequences of trade wars.

Visit Vanta.com/wallstreet for $1,000 off

Start your FREE TRIAL of Training The Street's Turbo Macros HERE

Our Investment Banking and Private Equity Foundations course is LIVE:
Or for our "Express Workout", our one hour top 5 technicals you must know for investment banking Masterclass, purchase for $49 HERE
Our content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice.
Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... See full disclos...

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Markets are in chaos, which is why on this week’s episode Kristen and Jen ditch the interviews to break down what the hell is happening in markets right now. From tariffs to the dollar and everything in between, we’re unpacking the massive moves in equities, the near-trigger of the circuit breaker, and what April 2nd — aka "Liberation Day" — really means.
We dive deep into the economic mechanics behind tariffs — what they are, how they work, and why they’re suddenly wreaking havoc. Jen gives a mini masterclass on the history of U.S. tariff policy, from Smoot-Hawley to modern-day trade wars, plus the ripple effects on the dollar and inflation. We talk stagflation risks, interest rates, retaliation from global trade partners, and whether this all signals a bigger shakeup — including real questions about the U.S. dollar as the world’s reserve currency (along with some conspiracy theories about whether there’s an ulterior motive for these moves).
Finally, we pivot to some deal talk, focusing on the all-stock merger between Elon Musk’s xAI and X (formerly Twitter). We break down what the deal actually means, why valuations seem... dubious, and how the whole thing serves as a real-world lesson in equity dilution. Bonus: we close with a little pickleball, skiing, and business etiquette chat — because it’s not all macro mayhem all the time.

Visit Vanta.com/wallstreet for $1,000 off

Start your FREE TRIAL of Training The Street's Turbo Macros HERE

Our Investment Banking and Private Equity Foundations course is LIVE:
Or for our "Express Workout", our one hour top 5 technicals you must know for investment banking Masterclass, purchase for $49 HERE
Our content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice.
Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... See full disclos...