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Market Maker

Market Maker

How Wall Street Really Makes Its Money | JPMorgan, Goldman Sachs & BlackRock

Oct 15, 2026 · 1h 0m

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About this episode

How do the world's biggest banks and investment firms actually make their money? In this episode, Anthony Cheung and Piers Curran break down the latest Wall Street earnings from JPMorgan, Goldman Sachs, Morgan Stanley and BlackRock, revealing the business models driving billions in profits. We explore how JPMorgan has built a record-breaking $100 billion net interest income machine, why Goldman Sachs is benefiting from the SpaceX IPO, and how rising bond yields and volatile stock markets are creating very different fortunes across investment bank trading desks. We also unpack BlackRock's extraordinary $15.5 trillion in assets under management, its expansion into private credit and the…