Market Maker

What’s driving markets right now? In this episode of the Market Maker Podcast, we break down the Fed’s policy split, oil prices surging above $120, and the growing risk of stagflation. We also analyse Big Tech earnings, why Google outperformed Meta, and the escalating AI battle between OpenAI, Anthropic, and major tech giants. If you want clear insights on markets, inflation, and where things are heading next, this episode has you covered.

(00:00) Intro & Market Overview
(01:52) Fed Decision & Rate Outlook
(11:29) Oil Surge & Geopolitics
(19:19) OPEC, UAE & Supply Dynamics
(25:14) Big Tech Earnings Breakdown
(33:39) AI Race & OpenAI Concerns

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What happens when an AI model is considered too powerful to release?

In this episode of the Market Maker Podcast, we unpack one of the most bizarre and important stories in tech right now, as Anthropic’s Mythos model sparks debate about whether AI companies are building the future or just mastering the art of hype.

From a strange moment involving an AI sending emails while its creator was eating a sandwich, to the wider implications for cybersecurity and global power, this story raises bigger questions than it answers.

We also explore the potential collapse of LIV Golf after billions in Saudi investment and what it tells us about the limits of capital when strategy doesn’t deliver results.

Finally, we break down the news that Apple CEO Tim Cook is stepping down after 15 years, what his legacy really is, and what the shift to a product-focused successor could mean for the next era of the world’s most valuable company.

If you want to understand the stories moving markets without the noise, this is the place.

(00:00) Intro & Topics in Focus
(02:27) What is Claude Mythos
(09:02) Hype or Real?
(13:55) LIV Golf Crisis
(22:24) Tim Cook Exit
(28:35) Apple Succession Plan

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Communication is one of the most valuable skills in finance and professional careers, yet it’s rarely taught.

In this episode of the Market Maker Podcast, Anthony Cheung speaks with James Percy-Smith, founder of The Elocution Coach, about how students and professionals can develop powerful communication skills that accelerate their careers.

They break down the four stages of becoming a confident speaker, why pressure and repetition are essential for improvement, and how better communication can transform your performance in interviews, presentations, and the workplace.

If you want to speak with confidence, perform better in interviews, and influence people at work, this episode shares practical techniques you can start using immediately.

(00:00) The #1 Career Skill
(01:19) Why Most People Speak Poorly
(02:40) The 4 Stages of Great Speakers
(06:16) The Pressure Practice Trick
(10:09) Beating Virtual Interviews
(15:36) Authentic vs Role Playing
(20:08) Explaining Complex Ideas
(26:12) Speak With Authority
(33:13) Body Language Secrets
(37:33) Famous Speakers Broken Down
(39:39) The Ingredients of Charisma
(43:21) The 5-Minute Speaking Habit
(46:48) Final Advice

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In this week’s Market Maker Podcast, we break down Bill Ackman’s high-stakes bid for Universal Music Group, the entertainment giant behind global superstars like Taylor Swift, Sabrina Carpenter and Kendrick Lamar. With the takeover offer estimated at $64.3bn, we unpack the M&A strategy underpinning the deal and why Pershing Square believes a US relisting could unlock significant value.

From listing arbitrage to capital structure optimisation, we explore how shifting UMG’s listing from Europe to the US could drive a meaningful valuation re-rating. We dive into the mechanics of the transaction, including free float dynamics, liquidity constraints, and why Ackman has strategically reduced his own stake to help enable the relisting.

We also compare this approach to other major listing migrations and examine how differences in market structure, investor base, and risk appetite can materially impact pricing. To round things out, we briefly touch on the evolving industry backdrop, including the rise of AI-generated music and what it could mean for the long-term positioning of music rights businesses.

A focused episode on modern dealmaking strategy and how financial engineering and market structure can be powerful levers for value creation.

(00:00) Intel Deal Breakdown
(05:36) Energy & AI Deals
(06:40) $64B UMG Bid
(07:38) Listing Arbitrage Explained
(10:25) Ackman’s Strategy
(15:06) Free Float & Liquidity
(17:33) Music Industry & AI

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Markets are rallying on ceasefire headlines but the risks haven’t disappeared.

In this episode, we break down why equities are surging while bonds, oil, and macro signals tell a very different story. From inflation expectations to disrupted oil flows and fragile negotiations, the so-called “ceasefire bounce” may not be as solid as it looks.

With earnings season approaching and geopolitical tensions still high, the key question is: are markets getting ahead of reality?