Market Maker

In this episode of Market Maker by AmplifyME, we sit down with Nick Leeson to explore trading psychology, risk management and what it takes to survive public failure after the collapse of Barings Bank and more than $1.3 billion in losses.

At just 25 years old, Leeson was running a derivatives operation in Singapore during the high-pressure culture of 1990s banking. What followed brought down a 233-year-old institution and became one of the most infamous events in modern financial history. But this conversation goes far beyond the headlines.

We examine the psychology behind catastrophic risk, the pressure to succeed at a young age, and how ego and fear of failure can quietly distort decision-making. Nick reflects on the culture inside investment banking at the time, the compounding effect of hidden mistakes, and what resilience really means after prison, public scrutiny and rebuilding a life from scratch.

For anyone pursuing a career in trading, investment banking or financial markets, this episode offers a rare and candid perspective on ambition, accountability and the true cost of unchecked pressure.

Market Maker by AmplifyME brings you conversations with the people who’ve experienced the highs and lows of global financial markets and the lessons they learned along the way.

(00:00) The Rogue Trader Story
(02:25) Growing Up & First Ambitions
(04:36) Entering the City
(10:24) Morgan Stanley & Big Bang
(14:33) Fast Promotions in Finance
(22:44) Joining Barings
(25:06) Singapore at 25
(29:41) When Pressure Builds
(31:57) Managing Without Mentors
(34:14) Getting on With Everyone
(37:38) Status, Culture & Ego
(42:14) Stress Was Off The Charts
(42:58) The Losses Spiral
(48:35) Ethics & Accountability
(52:14) Fear of Failure
(55:45) Prison & Resilience

Is AI about to disrupt white-collar jobs, or is this simply a market rotation disguised as panic?

Anthony Cheung and Piers Curran break down the so-called “AI scare trade” that hit software, payments and advisory stocks, even as the S&P 500 stayed broadly flat.

We unpack the viral 2028 AI thesis from independent research firm Citrini, the sell-off in companies like Salesforce and IBM, and whether hedge funds amplified the move.

We also explore the rise of “HALO stocks” and what the latest earnings from Nvidia tell us about AI demand, hyperscaler spending and the next phase of the cycle.

A sharp look at market psychology, AI disruption and what’s really driving volatility beneath the headlines.

(00:00) AI Scare Trade
(02:32) The Catalyst
(10:53) HALO Stocks Rotation
(17:52) Citrini’s 2028 Thesis
(27:27) The Reality Check
(31:34) Nvidia Earnings
(38:19) Agentic AI Inflection

This week on the AmplifyME Market Maker Podcast, Anthony goes solo to break down three big stories — a $58 billion oil merger, a pulled tech IPO, and private equity’s move into Indian cricket — all tied together by one theme: survival in the age of AI.

In energy, Devon Energy and Coterra Energy are merging to focus on efficiency and basin concentration as shale matures.

In tech, Blackstone-backed Liftoff Mobile paused its IPO after AI tools like Anthropic’s Claude Cowork cast doubt on the traditional per-seat SaaS model.

And in sport, firms including Blackstone, KKR, and CVC are betting on the Indian Premier League, drawn to the scarcity and predictable cash flows of live, un-automatable experiences.

From oil to software to sport, this episode explores how capital is repositioning for a world where defensibility and efficiency matter more than ever.

(00:00) Intro & Themes in Focus
(01:23) Oil Mega-Merger
(03:23) AI & The SaaS Shock
(05:59) Private Equity Buys Cricket
(08:11) The Big Picture

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In this episode of the Market Maker Podcast, Shah Malik shares a masterclass in how to stand out and succeed in finance, regardless of your starting point.

Currently finishing his degree at King’s College London and set to join Deutsche Bank full-time, Shah walks through how he broke into investment banking by focusing on execution, networking, and a relentless mindset.

From turning retail jobs into winning talking points, to mastering online tests, to building meaningful relationships with senior bankers, this conversation is packed with tactical insights that go way beyond the typical “just network more” advice.

Whether you’re targeting spring weeks, summer internships, or full-time roles, Shah’s framework for preparation, performance, and progression is one you’ll want to take notes on.

(00:00) Intro – Who is Shah Malik?
(01:13) Growing Up Far from Finance
(03:30) Discovering Finance Early
(06:32) Exploring Banking, FinTech & Consulting
(08:09) Mastering the Application Process
(10:05) Cracking Online Tests
(11:47) How to Convert Internships
(14:41) Standing Out in Spring & Summer
(16:11) Smart Networking (Without Overstepping)
(21:36) Turning Retail Jobs Into Resume Assets
(22:54) Linking Customer Service to IB Skills
(25:17) Staying Ahead: Habits & Learning
(27:02) Dealing with Imposter Syndrome
(29:52) Building the Wize Foundation
(32:51) Focus on What You Can Control

Find out more about the Wize Foundation

In this episode of the Market Maker Podcast, we break down the major M&A transactions reshaping global markets, spanning banking, asset management, mining, media and artificial intelligence.

We begin with Santander’s $12.2 billion acquisition of Webster Bank and examine what this signals about European banks expanding into the United States. We discuss capital efficiency, deposit strategy and the broader shift in global banking power.

Next, we analyse Nuveen’s $13.5 billion takeover of Schroders, creating a $2.5 trillion asset management group. We explore consolidation in active management, competitive pressure from passive giants, and what this means for London-listed institutions.

We then turn to the mining sector, where merger talks between Rio Tinto and Glencore have once again collapsed. We examine copper’s growing strategic importance in the AI era, valuation disagreements, and the geopolitical complexities surrounding critical minerals.

In media, Paramount strengthens its $108 billion hostile bid for Warner Bros Discovery. We break down ticking fees, breakup guarantees and how deal structuring can determine takeover outcomes.

Finally, we cover Anthropic’s $30 billion capital raise at a $350 billion valuation and discuss the sustainability of the AI funding race as competition intensifies between OpenAI, Big Tech and emerging players.

If you’re interested in mergers and acquisitions, global markets, corporate strategy and the forces shaping capital allocation, this episode provides a structured deep dive into the week’s most important developments.

(00:00) Episode Overview
(02:42) Santander’s $12BN US Deal
(21:20) Nuveen Buys Schroders
(36:02) Mining Mega-Merger Fails
(45:57) $108BN Media Takeover Battle
(53:37) Anthropic’s $30BN Raise