Market Maker

Oil is surging toward $100. Inflation fears are back. The Middle East remains highly unstable. Yet Wall Street trading desks are making record billions and major banks are raising their S&P 500 targets above 8,000.

In this episode of the Market Maker Podcast, Anthony Cheung and Piers Curran break down how geopolitical volatility is creating huge profits for banks like J.P. Morgan and Bank of America through market making, flow trading and hedging strategies.

They also explore whether the AI rally is becoming another dot-com bubble, why semiconductor stocks continue to explode higher and why firms like NVIDIA, Micron and Anthropic are now at the centre of global markets.

The conversation covers oil markets, inflation, Fed policy, AI infrastructure spending, hedge fund trading mechanics, risk management and the future of the AI supercycle, explained in a way that is accessible for students, investors and anyone interested in financial markets.

The episode also finishes with practical recommendations for free macro and finance resources to help students improve commercial awareness and stay ahead of market trends.

(00:00) Oil, Iran & Market Chaos
(05:40) Inflation, Rates & The Fed
(08:07) Why Wall Street Is Printing Money
(13:00) Flow Trading Explained
(18:50) How Banks Hedge Risk
(23:15) Jane Street & Quant Trading
(31:13) Why Stocks Keep Rising
(32:20) AI Bubble or Supercycle?
(37:56) The Most Important AI Company
(40:10) SpaceX’s $28 Trillion Bet
(44:19) Goldman’s 8,000 S&P Call
(47:10) Best Free Macro Resources

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Most students know they need to “network” to break into finance. Very few are told how to actually do it properly.

In this episode of the Market Maker Podcast, Anthony Cheung sits down with corporate finance analyst Liam Edward Proctor to break down how students can build relationships, stand out in applications and navigate finance careers without coming from a traditional background.

Liam shares how he went from a non-target university into corporate finance, common networking mistakes students make, how to approach coffee chats, LinkedIn strategies that actually work and why commercial awareness matters more than ever in today’s graduate market.

The conversation also explores rejection, imposter syndrome and how students can create opportunities beyond simply submitting online applications.

If you’re applying for internships, spring weeks or graduate roles in finance, this episode is packed with practical advice you can apply immediately.

(00:00) Liam’s Finance Journey
(01:59) Do You Need Internships?
(04:33) What vs Who You Know
(06:48) Coffee Chat Preparation
(08:34) Building Commercial Awareness
(13:29) Leveraging LinkedIn & Imposter Syndrome
(16:55) Meeting Howard Marks
(22:00) Handling Rejection
(26:39) Non-Target University Advice
(30:08) Networking Follow-Up Tips

In this episode, we break down a surge in global dealmaking, from a $67 billion mega-merger in US utilities to private equity circling Magnum Ice Cream, and why UK takeovers are suddenly booming despite negative headlines.

We explain how AI demand is reshaping entire industries, especially energy, infrastructure, and data centres, and why that’s triggering a new wave of consolidation. You’ll also learn how deals are actually financed, using a real-world bond issuance example to connect the dots between M&A and capital markets.

And to finish, we look at one of the wildest stories in markets right now: a TikToker trying to raise money to buy a bankrupt airline… and somehow getting hundreds of millions pledged.

If you’re looking to break into finance or want to better understand how deals really work, this episode gives you a front-row seat to the mechanics, strategy, and trends shaping today’s M&A landscape.

(00:00) Intro & Themes in Focus
(01:57) $67BN NextEra AI Power Deal
(04:09) Credit Ratings & Deal Strategy
(13:27) Deals Flow Despite Macro Headwinds
(14:21) Magnum & Private Equity
(18:12) How Deals Get Financed
(26:20) Where M&A and DCM Meet
(29:07) UK Takeover Boom
(35:57) TikToker Buys an Airline?

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Join the AmplifyME Summer Analyst Training Programme

Markets are ripping higher, but why? In this episode, we break down the relentless rally in US equities and why the AI boom is overpowering inflation fears, geopolitics, and rising yields.

We explain what’s really driving the S&P 500, why market breadth is narrowing, and whether this rally is starting to look fragile. Then we dive into the IPO frenzy around SpaceX, OpenAI, and Anthropic and what it means for investors and liquidity.

Finally, we simplify Nvidia’s latest earnings and its next-gen “Vera Rubin” system, explaining why this could be the backbone of the future AI economy.

(00:00) What’s Driving the Market Rally?
(05:00) AI vs Macro: Why Markets Don’t Care
(08:12) Is This Rally Running Out of Steam?
(15:18) SpaceX IPO & AI Hype Explained
(26:13) Nvidia Earnings & The Future of AI

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AmplifyME 2026 Summer Analyst Training Programme (Virtual)

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In this week’s episode, we break down one of the wildest stories in AI right now, Anthropic’s eye-watering $900 billion valuation, and ask whether fundamentals still matter in a market driven by momentum and FOMO.

We also dive into the surprising shift in global drinking habits, why giants like Diageo are struggling, and how viral products like BuzzBallz are reshaping the alcohol industry.

Finally, we revisit the private credit boom and explore whether cracks are starting to show, as banks step back in and investor sentiment begins to turn.

Let us know your thoughts in the comments - where do you think Anthropic’s valuation lands by the end of 2026?

(00:00) Intro & Themes in Focus
(02:04) Anthropic's $900B Valuation?!
(12:50) No One’s Drinking? BuzzBallz Boom
(30:37) Private Credit Cracks Showing?