Weekly Wrap-up

April 04, 2026

Hey WSO Monkey,

Happy Easter! If your "chill" Private Credit seat currently feels like a sweatshop, you’re in good company. This week we’re ranking Infra PE, debating IB vs Big Tech prestige, and figuring out if your personality or your looks will save you from AI. And there's more to life than M&A, just ask the guy from North Dakota. Take five, eat some chocolate, and enjoy the break.

-Patrick

Top Discussions

  1. X-Factor / Having “It” - "When you meet the people with "IT" you see it. They figured out the signal from the noise 10x faster than you did. The super sexy thesis that everyone buys into immediately, they sniffed out that it ultimately didnt matter, was too complex, too many points of failure, too difficult for the market to come around on, even if it all added up. Too much change between now and future state. Or market lacked imagination on the change that was coming. They also know the cloud of doubt today is a once in a generation opportunity for a business that is about to have every star align in 6 months down the road..."

  2. Most investors rely on earnings reports and analyst notes - "The best investors track real-world demand. Lenses is an AI-powered research interface that analyzes data assets like credit card spend, foot traffic, app downloads, web traffic, payroll signals, TikTok Shop, trade claims, and more. Ask questions about companies and get structured insights instantly. Now available for $20/month - first month free with WSO30. Explore Lenses." 

  3. What Am I Missing? - "Leading an operations or deal team? You may be asking: How do I build a more complete research picture—confirming investment theses and creating portco value—without slowing timelines or adding complexity? IncQuery's report, Closing the Intelligence Gap in Private Equity, shows how top firms are doing it. Download your free copy now."

New Due Diligence Insights for an M&A Edge

As the M&A landscape continues to evolve, so do best practices in due diligence. SRS Acquiom keeps a close eye on that evolution in our latest study done in partnership with Mergermarket.

Our 2026 Best Practices in M&A Due Diligence study provides exclusive insights into the latest due diligence dynamics, uncovered through a survey of 150 senior executives at boutique, mid-market, and bulge-bracket U.S. investment banks.

What’s driving increasing complexity and timelines, the shifts in cyber security and tech due diligence, how much VDRs really cost, and more—it’s all here, all ready to help you sharpen your M&A edge.

Top Discussions (contd.)

  1. Is Big Tech More Prestigious Than IB Now? - "Prestige is a social mechanism that signals those that can be trusted in a society to fill high responsibility roles and were filtered to fill those roles. Lawyers fit this. Doctors fit this. Politicians fit this. Advising C-Suites fit this. Managing F500 companies fit this. Investing a large portfolio of pension funds fit this. Being in "adult" rooms fits this. But developing some app? Childish. you could be a socially awkward anime binge watcher but if you're top 10 in leetcode some company will take you and pay you 500k to work 5 hours. Better life quality? Yes. It is prestigious? No, it never was and it will never be."

  2. Raise your hand if you are still manually calculating DSCR in Excel. Stop it. - "Your portfolio is too complex for manual data entry. LoanBoss doesn't just store loan docs; it automates them. One-click covenant testing. Live forward curves. Instant cash flow forecasting. Stop the manual repetition. Modernize your debt management today."

  3. It Gets Better. My Story - "Memento Mori. There is more to life than money and prestige. The guy from North Dakota State University (rank this, nerds!) who sold his business for a few yards will have more than you and he didn't suck peen in JPM's M&A group! Focus on your health, relationships, and hobbies..."

  4. Top Infra PE - "This is a list of everyone who’s in it, but not every one of these firms is a top investor. Take a good long look at each of the less well known names’ last fundraise amount vs the prior fund, how long they took to close that fund, and for those that are publicly traded, their stock price. some areas of infrastructure have had immense macro and secular tailwinds for the last couple of years, and if a firm has a large concentration in any of those tailwinds but isn’t doing well in the aforementioned metrics, you should ask yourself why. If they’ve been investing in a hot space but unable to deliver much exits, you should ask yourself why..."

  5. What Happened to All the Chill PC Firms? - "Feel like people used to have this impression that PC was a pretty chill, ~50-55 hour week asset class to work in. That was certainly what I was thinking coming out of banking. My experience (and that of a couple other friends) has been pretty meaningfully worse. Consistent 65+ hour weeks where you’re getting swamped with deals + amendments/incrementals/reporting for portcos. Feels like the intensity has maybe increased in the past couple years given the amount of fundraising/new entrants/ increased competition for deals. What are the chill PC firms? Are there any left? Was the good WLB ever actually true?"

  6. Looksmaxxing 101 for Analysts - "In the age of AI looks will get more important. since you can just ask an AI tool to do work for you, your knowledge becomes less valuable, and what is left is your personality and your look. it's difficult to change personality, but you can change your look."

New Podcasts Coming in Hot 🔥

  • How to Break Into Goldman Sachs TMT Investment Banking With No Connections

  • Zero Finance Background to JP Morgan: The Ultimate MBA Career Pivot

  • How to Break Into Investment Banking | Finance Career Advice

Hot Jobs 💼

RE Credit Analyst - "The Analyst will assist with loan underwriting and portfolio management functions, working closely with senior originators and management..."

Senior Analyst, Private Equity Operations - "The Senior Analyst, Private Equity Operations leads the operational management of private deals, from approval and settlement through ongoing lifecycle events such as IPOs, restrictions, corporate actions, and liquidity events..."

Investment Banking Vice President - "This involves reviewing AI outputs for correctness, methodological rigour, and commercial relevance—then building evaluation criteria and model answers that reflect how things are actually done at top-tier banks…"

Private Equity Expert - "Mercor is recruiting U.S./UK/Canada/Europe/Australia-based Private Equity Experts for a research project with a leading foundational model AI lab."

Financial Modeling Expert - "In this highly visible role, you will deploy your deep expertise in financial modeling, valuation, and deal structuring to support major investment decisions across diverse sectors..."

WSO Mentor - "Are you an experienced professional with a background in investment banking, private equity, hedge funds, S&T, venture capital, asset management, equity research, quant finance, corporate dev, real estate finance, or top-tier consulting? Passionate about mentoring the next generation of leaders? Wall Street Oasis (WSO) is expanding its Mentorship Program, and we're looking for outstanding professionals to join our mentor roster—an elite network supporting students and young professionals as they prepare for high-stakes careers. Whether you’re looking to give back, stay connected to rising talent, or sharpen your coaching skills, this role offers you the chance to make a meaningful impact, remotely and on your schedule..."

On Deck - Training 🎓

All in Eastern Standard Time

Stay Strong,
Patrick Curtis
CEO and Founder, WallStreetOasis.com

WSO Mobile App: iOS | Android

PS - We're also always looking to add resume reviewers and WSO Mentors to our team. Set your own pay (from $40/hr to up to $400/hr) to increase or decrease mentee flow. To submit an application, go here.

PPS - Think you have an interesting story? Want to share it with our podcast listeners? Hit reply and let me know!




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