Market Maker

In this episode of the Market Maker Podcast, we break down a rare six-sigma oil market shock - a move so extreme it statistically should happen only once every four million years.

Crude oil surged from around $70 to $120 during geopolitical tensions before rapidly reversing, catching some of the world’s largest hedge funds off guard.

We discuss what drove the volatility, why hedge funds lost billions, and how oil prices feed directly into inflation, interest rates, and global macro markets.

(00:00) Introduction
(01:20) The Oil Price Shock Explained
(05:23) The “Six Sigma” Market Move
(07:20) The Realities of Trading Commodities
(09:18) How Trade is Impacted by War
(14:24) The New Iranian Supreme Leader
(16:45) Strategic Oil Reserves & Market Impact
(29:10) Oil, Inflation & Interest Rates
(32:29) Hedge Funds Feel the Pain

This week on the Market Maker Podcast we break down the biggest M&A deals, private equity moves and activist investor plays shaping global markets.

From a $6.2 billion African telecom infrastructure deal to a $33 billion private equity bet on the energy powering AI data centres, Anthony Cheung and Piers Curran break down the biggest deal stories shaping markets this week.

They also dive into Elliott Management’s role in a $40 billion Toyota Industries takeover, a $1 billion activist play at Pinterest, and the dramatic conclusion to the Warner Brothers bidding war as Paramount outmanoeuvres Netflix.

Essential listening for anyone curious about the strategy behind mega M&A, activist investing, and how infrastructure, AI, and media are colliding in today’s global dealmaking landscape.

(00:00) Intro
(02:24) MTN & IHS Towers Deal
(11:04) Elliott and Toyota Industries
(18:51) Private Equity’s $33bn Energy Bet
(27:35) Investment Banking Scorecard YTD
(31:02) Elliott’s $1bn Pinterest Play
(36:24) Paramount vs Netflix Bidding War

Oil prices are surging as tensions escalate between the US, Israel and Iran but what does it mean for inflation, interest rates and global markets?

In this episode of the AmplifyME Market Maker Podcast, Anthony Cheung and Piers Curran break down the macroeconomic implications of the rapidly escalating conflict in the Middle East and explain why traders and investors are paying close attention to energy markets.

With Brent crude jumping sharply and the Strait of Hormuz once again emerging as a critical geopolitical chokepoint, the discussion explores how disruptions to global energy supply could ripple through the financial system. Around 20% of global oil supply passes through this narrow shipping lane, meaning any disruption has the potential to push energy prices higher and reshape inflation expectations worldwide.

The episode also examines how rising energy prices could influence Federal Reserve policy, delay potential interest rate cuts and create fresh inflation pressure just as central banks believed price stability was returning. The hosts discuss the different risks facing the US and Europe, and whether this geopolitical shock is likely to be a short-term flare-up or the beginning of a broader economic risk.

(00:00) Iran Conflict & Market Impact
(02:10) Strait of Hormuz Explained
(09:07) Brent vs WTI
(10:38) Why Oil Matters for the Economy
(13:10) Shipping Risks in the Gulf
(15:35) Trump’s Oil Strategy
(19:11) Oil and the US Economy
(20:52) Will Oil Delay Rate Cuts?
(21:52) Strategic Oil Reserves
(28:15) Impact on Markets
(31:21) Warsh's Baptism of Fire
(35:10) Short-Term Oil Shock?
(39:31) Europe’s Inflation Risk
(44:04) ECB's Monetary Policy Disaster
(46:00) Will Central Banks Hike?

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