🥳 New guide alert! 🥳 ‘Introduction to Venture Capital’ is now available. It covers 56 topics spanning 122 pages. Grab your copy here.

Welcome back to another issue of ‘Career Guides Weekly’ by Career Guides.

Today’s Riddle: I'm a place where financial instruments like stocks and bonds are bought and sold. Traders work here. What am I? (Scroll all the way down for the answer).

Alright, small talk done, let’s dive in!

TODAY’S MENU

• Investment Banking: US bank bosses to be grilled by senators, The first banks announce their bonuses this week, Global banks forecast improved investment banking outlook and more

• Global Markets: Nations strike deal at COP28 to transition away from fossil fuels, Why are US stocks sluggish?, Powell - Naughty or nice?, and more

• Asset Management: Global bond funds draw biggest weekly inflow in eight months, Institutional investors lag retail peers in ETF adoption, and more

• Private Equity: How private equity firms create value in uncertain times, Private equity funds are cutting partners: "This hasn't happened since 2008", and more

• Hedge Funds: Hedge fund groups sue US SEC in bid to vacate short-selling rules, US market rally boosts hedge fund performance, hits macro strategies in November, and more

• Venture Capital, Tech, Crypto & AI: Take the time to brush up those pitch decks, This week’s 10 biggest funding rounds, and more

INVESTMENT BANKING (GET THE 100-PAGE GUIDE HERE)

The chief executives of the biggest U.S. banks are set to appear before the Senate Banking Committee on Wednesday, where they will probably push back on proposals for stricter capital rules.

The Committee's Democratic chair Sherrod Brown has alleged that banks "reward corporations that raise prices on Americans." Congress convenes the CEOs as part of its annual oversight of Wall Street firms.

• US bank bosses to be grilled by senators (RT)

• Wall Street bank bosses warn lawmakers of economic toll from new rules (RT)

• The first banks announce their bonuses this week (EFC)

• Pfizer gets OK for $43-billion Seagen deal after donating cancer drug rights (RT)

• Exclusive: JPMorgan to outsource $500 billion custody business in Hong Kong, Taiwan (RT)

• Global banks forecast improved investment banking outlook (RT)

GLOBAL MARKETS (GET THE 107-PAGE GUIDE HERE)

The Federal Reserve's rate decision on Wednesday is all but a done deal, so that leaves Chair Jerome Powell's language and the central bank's dot plot of future policy as the main focus. The world's most powerful central banker has a tightrope to walk, with Tuesday's U.S. inflation print doing little to alter views for the timing of rate cuts next year.

• Powell - Naughty or nice? (RT)

• Why are US stocks sluggish? (RT)

• Nations strike deal at COP28 to transition away from fossil fuels (RT)

• Foreign investors boost Asian bond buys in November amid US rate cut signals (RT)

• Praying for 'soft landing' of $1 trillion basis trade (RT)

ASSET MANAGEMENT (GET THE 71-PAGE GUIDE HERE)

Institutional investors lag their retail peers in adoption and use of exchange-traded funds (ETFs), according to a report by research firm Cerulli Associates.

These institutional investors, like endowments or state and local defined benefit plans, own nearly $1.3 trillion in ETF assets – making up just 4.2% of the ETF segment's $31 trillion in U.S. professionally managed assets, the report released on Thursday added.

• Institutional investors lag retail peers in ETF adoption (RT)

• Goldman Sachs digital assets chief sees 'huge appetite' for blockchain assets (RT)

• Top Australian pension fund lifts private credit mandate to $1.5 bln (RT)

• Asset manager Bayview explores sale of insurance arm Oceanview (RT)

• US equity funds see outflows as investors eye economic data (RT)

• Global bond funds draw biggest weekly inflow in eight months (RT)

PRIVATE EQUITY (GET THE 127-PAGE GUIDE HERE)

• How private equity firms create value in uncertain times (HBS)

• Private equity funds are cutting partners: "This hasn't happened since 2008" (EFC)

• Disney, Reliance plan London meeting for India media merger talks (RT)

• Apollo weighs $6.3 bln bid for UK's Pension Insurance Corp (RT)

• China venture capital, private equity funds rattled by proposed changes (RT)

HEDGE FUNDS (GET THE 116-PAGE GUIDE HERE)

• Hedge fund groups sue US SEC in bid to vacate short-selling rules (RT)

• Crypto, insurance-linked and trend hedge funds most popular (RT)

• US market rally boosts hedge fund performance, hits macro strategies in November (RT)

• London hedge fund Aspect Capital explores fund business in China (RT)

VENTURE CAPITAL (GET THE 122-PAGE GUIDE HERE)

• This week’s 10 biggest funding rounds (CB)

• Startup studio Hexa wants to partner with startups growing too slowly (TC)

• Take the time to brush up those pitch decks (TC)

IN CASE YOU MISSED IT

🧠 The Cover Letter Structure I Used To Get Into Goldman Sachs

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