Apollo just released a 48 page report on their outlook for public and private markets

Few charts that caught my eye

1/ Marine fuel price at major hubs have seen a massive shock due to recent geopolitical conflict 2/ Jet fuel prices have soared for similar reasons

Collection of my private equity primers

1/ Leveraged Buyout Primer 2/ Leveraged Buyout Modeling: Sources & Uses

A collection of BoringBiz Private Equity Primers

1/ LBOs 2/ LBO S&U

If you want to work in restructuring investment banking or distressed credit investing, bookmark this

A collection of BoringBiz primers

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1/ Restricted Groups 2/ Rights Offerings

KKR just released an 88 page report on their 2026 outlook for public and private markets

A few charts that caught my eye

1/ Nasdaq 100 performance following Netscape IPO and ChatGPT launch are following similar trajectories 2/ Capex as a percentage of operating cash flows is reaching unprecedented levels for the hyperscalers

Apollo just released a 126 page report on the state of the housing and real estate market

Some charts that caught my eye

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1/ Average monthly mortgage payment on a new 30 year mortgage now sits at $2665 2/ Housing affordability remains at record lows

Apollo Global Management just released their outlook for 2026

Here are a few charts that caught my eye

1/ Restarting of student loan payment is a notable headwind for a sizable portion of US consumers, especially for middle and lower-income households 2/ These loan balances are significant and broad-reaching. Restarting payments on loans of this magnitude will have real consequences for household budgets and for the broader economy.

A Collection of BoringBiz Private Equity Primers

1/ LBOs 2/ LBO S&U

Something not talked about enough is how the year 1971 broke the US economy forever

Here are 20 fascinating charts to show you what I mean

1. Productivity has skyrocketed while salaries have not moved at nearly the same pace. 2. Wealth inequality has significantly worsened.

Income gains across the economy is now mostly consolidated amongst the top 5%

Apollo just released a 57 page deck on the state of the U.S. economy

Some charts that caught my eye

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1/ Trade policy uncertainty has been improving 2/ Overall economic policy uncertainty is improving

A collection of my private equity-focused primers and slides

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1/ Leveraged Buyout Primer 2/ Leveraged Buyout Modeling: Sources & Uses

Apollo just released some fascinating charts on macroeconomic conditions and state of markets

A few that caught my eye

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1/ Timeline of trade reset slowdown and impact on economic activity 2/ Shipping container departures from China to US

Apollo just released some incredible data on how stablecoins are impacting demand for US treasuries and outlook for the sector

Few charts that caught my eye

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1/ Stablecoin transaction volume has surpassed both Visa and Mastercard 2/ Stablecoin combined market cap now sits at ~$250B

Apollo just released a 28 page deck on the outlook for the US dollar

Some charts that caught my eye

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1/ Hedging costs have increased for foreign investors 2/ Hedged yields are negative for foreigners

Apollo just released a 42 page deck on the state of student loans

Some fascinating charts

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1/ Total number of people with federally managed student loans have now hit 45 million 2/ Student loan delinquencies have jumped over 1000bps since February

Blackrock just released their 2025 midyear outlook

Here are a few charts that caught my eye

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1/ Equity markets have become much more sensitivity to economic and trade policies post 2020 2/ Foreign investors still own roughly 25% of US treasuries

If you are interested in leveraged finance, restructuring banking or credit investing, this thread is for you

A few gems from an old Bear Stearns Leveraged Finance handbook (part 3)

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1/ How to calculate RCF balance and interest expense 2/ How to calculate Term Loan A interest and amortization

Morgan Stanley just released a fantastic 52 page deck on the state of markets and their asset allocation framework for June 2025

Some charts that caught my eye

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1/ Indicators have recently diverged between actual economic activity and sentiment 2/ Tariffs currently trending towards de-escalation...

INVESTMENT BANKING SURVIVAL GUIDE 101

If you are a recent college graduate or intern starting in investment banking in the next few weeks, this thread is for you

Some unsolicited advice from me

🧵 1/ PAY ATTENTION TO SEAMLESS MEALS

As a young banker, most of your time is spent eating outside. That includes lunch, dinner, dates. Watch the calories

This is #1 because without good health, everything else is meaningless. If you feel bad, nothing else matters.

Ardian, a $150B+ AUM private equity firm, just released a great summary on private equity deal processes and value creation

If you want to better understand basics of LBOs and how PE firms generate returns, this thread is for you

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1/ Leveraged Buyout Overview 2/ Key success factors of an LBO

If you are looking for a primer on leveraged finance, restructuring or credit investing concepts, this thread is for you

Few fantastic slides from an old leveraged finance handbook by Bear Stearns

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1/ Introduction to leveraged finance 2/ Company decision to use debt in the capital structure