Goldman Sachs Exchanges

Goldman Sachs Research's Jari Stehn joins Charlotte Keenan of the firm's Office of Corporate Engagement to discuss the UK economy’s unique economic challenges, its path forward, and the role that small businesses can play in bolstering growth. To learn how the UK’s small businesses could help support the UK economy, read Generation Growth: The Small[...]

Recent weakness in US Treasury bond auctions have become a focal point for markets. Goldman Sachs’ Jonny Fine and Alec Phillips discuss the implications for markets, yields, and fiscal deficits. And if you want more insights from Goldman Sachs, make sure to visit GS.com and sign up for Briefings, a weekly newsletter from Goldman Sachs[...]

The newest generation of GLP-1 drugs are being hailed by some as “miracle drugs” for the treatment of obesity. But GLP-1s are expensive, insurance coverage is limited, and not everyone with obesity can and or wants to take them. In this episode, which is based on Goldman Sachs Research’s latest Top of Mind report, obesity[...]

Goldman Sachs Research’s US Chief Economist David Mericle explains why worries over overheating inflation are overblown and why the outlook for US economic growth remains relatively strong. And if you want more insights from Goldman Sachs, make sure to visit GS.com and sign up for Briefings, a weekly newsletter from Goldman Sachs about trends spanning[...]

Where do the world’s largest investors see investment opportunities? Against a more constructive macroeconomic environment, insurers appear to be more willing to take on risk in their portfolios. Goldman Sachs’ Mike Siegel and Matt Armas discuss where insurers see opportunities and risks, and other findings from their 13th annual Global Insurance Survey.

Capital Group’s Rob Lovelace discusses the firm’s distinct investment process and culture, how he’s thinking about macro trends, and his lessons for leadership. Lovelace, whose grandfather Jonathan Bell Lovelace founded the firm in 1931, recently stepped down at the privately held firm as vice chair and president and continues as a portfolio manager. If you'd[...]

The US stock market is more concentrated than it’s been in decades, with a small number of stocks accounting for an unusually large share of market capitalization. While it’s making some investors uneasy, Ben Snider, a senior strategist on the US portfolio strategy team in Goldman Sachs Research, and Peter Callahan, who covers the US[...]

Transit on the seas — the planet’s most important means of trade — has become more fraught amid geopolitical and climate-related disruptions, particularly in the Red Sea. In this episode, which is based on Goldman Sachs Research’s Top of Mind report, Admiral James Stavridis and DHL Group's CEO Tobias Meyer discuss the factors driving maritime[...]

High mortgage rates and a limited supply of homes have created one of the tightest markets in decades. Goldman Sachs Research’s Roger Ashworth explains the supply-and-demand dynamics that are shaping the US housing market and the outlook for 2024.

Retailers are facing a more complex environment in 2024, say Goldman Sachs’ Tim Ingrassia, co-chairman of Global Banking & Markets’ Global Mergers & Acquisitions business, and Vishaal Rana, a managing director in the Cross Markets Consumer Retail Group, who discuss the deal-making landscape and the challenges facing investors and consumers. Ingrassia and Rana also join[...]

Climate change, artificial intelligence, shifting supply chains, and population growth are among the broader forces that have boosted the returns — and popularity — of infrastructure investments. Goldman Sachs’ Teresa Mattamouros explains the implications for investors on the latest episode of Goldman Sachs Exchanges.

David Booth, founder and chairman of Dimensional Fund Advisors, reflects on his career in applying the finance theory he learned at the University of Chicago’s business school – which now bears his name – to the world of asset management. 

Oil prices have remained relatively rangebound despite rising geopolitical tensions. Goldman Sachs Research’s Daan Struyven, head of oil research, explains the shifting supply and demand dynamics that have muted the likelihood of large prices spikes.  

With voters representing over half the world’s population — in the US, Europe, India, and beyond — expected to head to the polls this year, Richard Haass, former president of the Council on Foreign Relations, and Timothy Garton Ash, professor of European Studies at the University of Oxford, explain the implications of key elections around[...]

Longer-term structural changes in economic activity, policy, and society can have a bigger impact on investment opportunities than the shorter-term hot-button issues of the moment, explains Goldman Sachs Research’s Peter Oppenheimer, chief global equity strategist, and head of macro research in Europe. In this episode, Oppenheimer explains the factors driving what he sees as the[...]

In the final episode of our four-part special series, we look at how infrastructure and the built environment will change cars as evolve into zero-emission places we can sleep, watch TV, and work. 

In the third episode of our four-part special series, we delve into the ways carmakers new and old have to think about raising capital, corporate structure, and vertical integration.

In the second episode of our four-part special series, we go deep into how the production of the car is changing, from new manufacturing methods to the critical role batteries play to the vital importance of new metals like cobalt, lithium, and manganese.

In the first episode of our four-part special series, we take a close look at the two fundamental changes that are upending the auto industry: electrification and autonomy. Both rely on a complete rethinking of how cars are designed, engineered, and built. Those changes, in turn, require massive shifts in supply chains, labor pipelines, and[...]

Goldman Sachs Chairman and CEO David Solomon shares his view on the global economy, what’s top of mind for business leaders, and why he believes inflation still has the potential to be “stickier” than the market expects. 

Goldman Sachs’ Sharmin Mossavar-Rahmani, head of the Investment Strategy Group (ISG) and chief investment officer of GS Wealth Management, shares ISG’s 2024 outlook, America Powers On, and her recommendations for clients in the year ahead.

As the primary season in the US presidential election kicks off this month, Goldman Sachs’ Joe Wall from the Office of Government Affairs and Alec Phillips, chief US political economist in Goldman Sachs Research, explain the issues at stake and implications for policies and markets. 

In this episode of Goldman Sachs Exchanges: Great Investors, Henry Kravis, co-founder and co-executive chairman of KKR, discusses the evolution of the private equity industry and KKR’s journey through that transition, the lessons he’s learned from leading the firm, and his views on the economy and markets. 

Against a backdrop of tense US-China relations and the ongoing conflicts in the Middle East and Ukraine, Washington and Wall Street are increasingly worried about the same thing: geopolitics. In this episode, Jared Cohen, president of Global Affairs at Goldman Sachs, and Ian Bremmer, president and founder of Eurasia Group and GZERO Media, explore the[...]

As fears over inflation and interest rates start to moderate, the case for taking on more risk may be rising. Christian Mueller-Glissmann, who heads asset allocation research in Goldman Sachs Research, and Alexandra Wilson-Elizondo, co-chief investment officer of the multi-asset solutions business in Goldman Sachs Asset Management, explain their outlooks for asset classes and portfolio[...]

How is the financial services sector, often seen as a bellwether for the economy, coping with inflation, interest rates, and greater regulatory pressures? Goldman Sachs Research’s Richard Ramsden and Alex Blostein discuss their outlook for banks and asset managers. 

In this episode of Goldman Sachs Exchanges, Edward P. Djerejian, former US Ambassador to Israel and Syria, and former US Assistant Secretary of State for Near Eastern Affairs, and Emile Hokayem, Director of Regional Security and Senior Fellow for Middle East Security at the International Institute for Strategic Studies, break down the risks of the[...]

After a slow start to 2023, deal-makers are starting to return to the negotiating table. Goldman Sachs’ Stephan Feldgoise and Mark Sorrell, the co-heads of Global Mergers & Acquisitions in Global Banking & Markets, explain the M&A outlook for the year ahead. 

As global co-head of real estate at Blackstone, Kathleen McCarthy has helped grow the firm’s real estate assets under management to more than $330 billion. In a conversation moderated by Goldman Sachs’ Alison Mass, Kathleen shares her journey to becoming one of the leading investors in the real estate industry, the forces shaping key sectors[...]

China’s property sector has remained under pressure, hobbling the country’s recovery and weighing on global economic growth. In this episode, Goldman Sachs Research’s Kenneth Ho, Asia credit strategist, Hui Shan, chief China economist, and Yi Wang, head of the China real estate team, discuss the implications and the road ahead. 

In this episode of Goldman Sachs Exchanges, Dan Dees, Jim Esposito, and Ashok Varadhan, the co-heads of Goldman Sachs' Global Banking & Markets business, discuss their views on the markets, corporate and investor sentiment, and the outlook for deal-making. They also share their thoughts about the direction of the industry as well as their leadership and[...]

Goldman Sachs’ Jan Hatzius, the firm's chief economist and head of Goldman Sachs Research, and Dominic Wilson, senior advisor in the Global Markets Research Group, discuss their outlook and the findings from their recently published 2024 macro outlook entitled, The Hard Part is Over.

In a conversation moderated by Goldman Sachs’ Michael Brandmeyer, BlackRock’s Tony Kim, head of tech sector fundamental equities, shares his views on the technology ecosystem, public and private valuations, and the impact of artificial intelligence and quantum computing. 

Goldman Sachs Research’s Chris Shibutani and Jason English explain the business and investor implications of the latest anti-obesity medications and their ripple effects in the healthcare industry and beyond.

Lauren Taylor Wolfe, co-founder and managing partner of Impactive Capital, explains why taking a collaborative, private equity approach as an ESG-oriented activist investor leads to sustainable, long-term returns.

The US has had an exceptional decade. US economic growth and equities have outperformed, and the dollar’s global role remains unchallenged. But can this run continue? In this episode of Goldman Sachs Exchanges, Rebecca Patterson, former chief investment strategist at Bridgewater Associates, Jean Boivin, head of the BlackRock Investment Institute, and Goldman Sachs Research’s Peter[...]

The rapid rise in adoption of generative AI is spurring companies of all sizes to rethink their strategic plans for growth. Goldman Sachs Investment Banking’s Jung Min and Matt Lucas explain how gen AI is reshaping the dealmaking landscape and discuss findings from their report, “Navigating the AI Era.”

US commercial real estate has been hit by the surge in interest rates and a pullback in lending from regional banks. Scott Rechler, chairman and CEO of real estate investment firm RXR, and Stijn Van Nieuwerburgh, professor of real estate and finance at Columbia Business School, break down the risks in the commercial real estate[...]

Global bond yields have moved sharply higher in recent weeks, setting the stage for a higher-for-longer rate regime. Goldman Sachs Research’s Praveen Korapaty, chief interest rates strategist, and Global Banking & Markets’ Anshul Sehgal, co-head of US interest rate products trading, explain the implications for economic growth, investors, and markets. 

General Catalyst CEO Hemant Taneja shares his insights on the venture capital landscape, society’s digital transformation, and the firm’s mission-based approach to investing in the latest episode of Goldman Sachs Exchanges: Great Investors. 

An improving economic backdrop is helping to bolster retirement savings but Americans are facing a raft of financial challenges. A retirement plan and recent legislation can help manage the competing financial priorities and unexpected expenses that typically crowd out saving for retirement, explains Mike Moran, pension strategist in Goldman Sachs’ Asset & Wealth Management business,[...]

Signs of life in the global IPO market are spurring investor optimism for a broader recovery. On Goldman Sachs Exchanges, David Ludwig, global head of equity capital markets at Goldman Sachs’ Global Banking & Markets, shares his outlook for the IPO market and the market dynamics for companies and investors.

After a period of cost cutting and layoffs — and buoyed by generative AI tailwinds — software and internet companies are starting to invest for growth, say Goldman Sachs Research’s Eric Sheridan and Kash Rangan on the latest episode of Goldman Sachs Exchanges. 

Developed market equities have long dominated global equity markets, but that’s set to change in the coming decades. Kevin Daly, co-head of CEEMEA Economics in Goldman Sachs Research, explains why EM capital markets are likely to rise significantly.

Goldman Sachs’ Co-head of Global Banking & Markets Jim Esposito explains how companies and investing clients are navigating markets and the global economy in the latest episode of Goldman Sachs Exchanges.

In this special episode of Goldman Sachs Exchanges: Great Investors, Peter Brown, CEO of Renaissance Technologies, talks about his career and building the hedge fund company. He also recounts how the firm navigated market crises such as the “quant quake” and the Global Financial Crisis, and describes how computer models and algorithms have long played[...]

Worries that rising inflation will force the Federal Reserve to raise interest rates later this year appear to be fading amid encouraging signs in the jobs market. Goldman Sachs Research’s Chief U.S. Economist David Mericle shares his views on the U.S. economy, inflation, and the Fed’s path from here.

Goldman Sachs Research’s Sharon Bell and Gizelle George-Joseph discuss the progress, challenges, and opportunities facing women and Black Americans, respectively, and why reducing racial, gender, and economic inequities could ultimately raise global growth over the long term.

The music industry is on the verge of another major structural change, so what should listeners, artists, and industry professionals expect over the years to come? Goldman Sachs Research’s Lisa Yang discusses her latest Music in the Air report which analyzes how streaming, artificial intelligence, and changing listener behavior are affecting the industry.

As the Chief Investment Officer of Global Fixed Income for BlackRock, Rick Rieder and his team are responsible for about $2.4 trillion of assets. In this episode of Goldman Sachs Exchanges: Great Investors, Rieder shares his views on the markets, the strength of the U.S. economy, and where he’s finding investment opportunities. 

Higher interest rates are making it more expensive for companies to borrow money. So what could that mean for the health of corporate America? Saba Capital Management’s Boaz Weinstein, founder and CIO, and Goldman Sachs’ Lotfi Karoui, chief credit strategist, discuss the outlook for U.S. credit markets. This episode of Goldman Sachs Exchanges is based[...]

Germany slipped into a technical recession earlier this year as the country struggles with a weaker manufacturing sector, high inflation and a war on its doorsteps. In this episode, Wolfgang Fink, CEO of Goldman Sachs for Germany and Austria, explains how German companies and investors are adapting to the macro and market pressures. 

More than any other advanced economy, the U.K. has been squeezed by sharply higher prices, but new data shows that inflation may be starting to fall. In this episode, Goldman Sachs Research’s Jari Stehn, chief European economist, and George Cole, head of European rates strategy, explain why the U.K. faces a “confluence of shocks,” why[...]

Since Luke Ellis took the helm as CEO of Man Group, a global active investment management firm with a significant hedge fund offering, the firm’s assets under management have almost doubled to around $145 billion. In this episode of Goldman Sachs Exchanges: Great Investors, Goldman Sachs’ John Storey speaks with Ellis about his perspectives on[...]

China's emergence from Covid lockdowns was expected to boost the global economy. But a string of disappointing data is giving investors, policymakers and market watchers a new reason to worry. Goldman Sachs Research’s Hui Shan, chief China economist, explains the drivers behind the outlook for the world’s second-largest economy. 

Investor interest in generative AI technology has surged. But is the hype and market pricing around the technology warranted? In this episode of Goldman Sachs Exchanges, Conviction’s Sarah Guo, NYU’s Gary Marcus and Goldman Sachs Research’s Kash Rangan and Eric Sheridan discuss the technology’s disruptive potential. 

Goldman Sachs Research’s Bruce Kirk, chief Japan equity strategist, explains the drivers behind the rally in Japan’s equity market and the state of the country’s economy. 

Global equity markets have performed relatively well in the first half of the year, but can this performance last? Goldman Sachs Research’s Peter Oppenheimer, chief global equity strategist and head of macro research in Europe, explains why equity returns are likely to remain relatively flat from here. 

The U.S. economy has shown signs of surprising resilience this year, despite concerns over inflation, recession and the Fed’s path from here. In the latest episode of Goldman Sachs Exchanges, David Mericle, chief U.S. economist in Goldman Sachs Research, explains why he’s generally optimistic that the U.S. economy can avoid a recession and achieve a[...]

Since GQG Partners’ Chairman and CIO Rajiv Jain co-founded the global boutique asset management firm in 2016, the company has grown to more than $100 billion in assets under management. In this episode of Goldman Sachs Exchanges: Great Investors, Jain discusses his approach to managing portfolios and building teams, as well as his views on[...]

Breaking down the latest decisions from the Fed and the ECB, as well as how corporates are navigating the current economic climate, Jonathan Fine, head of Investment Grade Syndicate in the Americas in Goldman Sachs' Global Banking & Markets, joins our latest episode of The Markets, a new weekly podcast from Goldman Sachs Exchanges.

Family offices have long managed the financial affairs of the world's wealthiest families. In this episode, Meena Flynn and Sara Naison-Tarajano from Goldman Sachs’ Asset & Wealth Management business, and Ken Hirsch and Tony Pasquariello from Global Banking & Markets, break down the findings of the firm’s latest Family Office survey, Eyes on the Horizon. 

Investor enthusiasm for artificial intelligence has driven equity markets higher, but does the current rally have legs? In this week’s Markets podcast from Goldman Sachs Exchanges, Sung Cho, co-head of Tech Investing for Fundamental Equity in Goldman Sachs Asset Management, explains the factors and outlook for the sector.

How are countries and companies reshaping their supply chains for a new era of global trade? In this episode, Andrew Tilton, chief Asia Pacific economist in Goldman Sachs Research, Luke Barrs from the Fundamental Equity business in Asset Management, and Richard Hill, chairman of the board at Marvell Technology, discuss the macro pressures and geopolitics[...]

Discussing what’s next for U.S. treasury issuance as debt ceiling concerns fade, the Fed’s next move, and underlying trends in U.S. equity performance this year, Beth Hammack, co-head of the Global Financing Group in Goldman Sachs’ Global Banking & Markets, joins our latest episode of The Markets, a new weekly podcast from Goldman Sachs Exchanges.

In this episode, Stephen Kaplan, associate professor at George Washington University, Alec Phillips, Goldman Sachs Research’s chief political economist, and David Beers, former head of sovereign credit ratings at S&P, who oversaw the rating agency’s U.S. credit rating downgrade in 2011, dig into the history and mechanics of the U.S. debt limit and explore whether[...]

Debt ceiling discussions are the primary focus of markets this week but equity and bond markets are reacting in very different ways, explains Candice Tse, a managing director in Goldman Sachs Asset Management, on The Markets podcast.  

Oil and commodity prices have fallen this year amid unprecedented declines in inventories. But this “great de-stocking” could also pave the way for strong gains if the economy avoids a recession given solid fundamentals and overall demand, explains Jeff Currie, global head of commodities in Goldman Sachs Research.  

Breaking down this week’s economic data and events from the Euro area, Japan, China and the U.S., Luke Barrs, global head of client portfolio management in Fundamental Equity within Goldman Sachs Asset & Wealth Management, joins our latest episode of The Markets, a new weekly podcast from Goldman Sachs Exchanges.

In this episode, Goldman Sachs Research’s Christian Mueller-Glissmann, who heads asset allocation research within portfolio strategy, explains how recent market stresses are affecting portfolio diversification strategies. 

Analyzing this week’s CPI print, continuing concerns in the banking sector, and the ongoing debt limit debate, Joseph Briggs, a global economist in Goldman Sachs Research, joins our latest episode of The Markets, a new weekly podcast from Goldman Sachs Exchanges.

In an environment where merger and acquisition activity is still relatively subdued, companies are turning to spinoffs, sales and divestitures. But what factors are driving this trend? In this episode, Goldman Sachs' David Dubner, global head of M&A structuring within Global Banking & Markets, and Sharath Sharma, global vice chair at EY, discuss “Strategies for[...]

Geopolitical tensions between the U.S. and China have been running high for some time, but are escalating as President Biden prepares to unveil further curbs on U.S. investment to China ahead of this month’s G7 Summit. In this episode, which breaks down Goldman Sachs Research’s recent Top of Mind report, “U.S.-China: more decoupling ahead,” Harvard’s[...]

Explaining the takeaways from this week’s Fed decision, recent banking sector stress and debt limit concerns, Ashish Shah, chief investment officer of Public Investing in Asset & Wealth Management, joins our latest episode of The Markets, a new weekly podcast from Goldman Sachs Exchanges.

After a sharply disappointing performance in 2022, tech stocks are roaring back. But is the latest revival just a short-term blip? Or is there a new growth phase ahead for the tech sector? In this episode, Ben Snider, a senior strategist in Goldman Sachs Research, and Peter Callahan, who covers the tech sector for Global[...]

The debate over the U.S. debt ceiling is quickly heating up. If the debt limit is not lifted before the deadline, what does this mean for markets and the economy? In this episode, Goldman Sachs Research’s Alec Phillips, chief U.S. political economist, explains how a failure to raise the limit on US government debt could[...]

Discussing US equity volatility hitting a low, the takeaways from US and European earnings, and what to expect in next week’s Fed and ECB meetings, Sharon Bell, Goldman Sachs Research’s senior strategist on the European Portfolio Strategy team, joins our latest episode of The Markets, a new weekly podcast from Goldman Sachs Exchanges.

The path to net zero has never been more complicated as businesses and governments look to balance short-term energy demands with long-term sustainability goals. In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research’s Michele Della Vigna, head of Natural Resources Research in EMEA, and Kara Mangone, global head of Climate Strategy, discuss[...]

The initial public offering of luxury car manufacturer Porsche last fall was a bright spot in an otherwise difficult equity market. So how has the automaker navigated the macro challenges and what are the implications for the sector more broadly? In the latest episode of Exchanges at Goldman Sachs, Oliver Blume, the CEO of Porsche[...]

Breaking down recent bank earnings, China’s GDP, European markets and the tech sector, Tony Pasquariello, global head of hedge fund coverage for Global Banking & Markets, joins the inaugural episode of The Markets, a new weekly podcast from Goldman Sachs Exchanges. 

The recent stress in the banking sector appears to have abated but there are knock-on effects that are pressuring a key corner of the economy: commercial real estate. So could commercial real estate be the next possible crisis? In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research’s Lotfi Karoui, chief credit strategist[...]

As one of the largest investors in the world, insurers represent about $30 trillion in assets — which means their investment decisions can have an outsized impact on markets and investment flows. So in a volatile market and uncertain economic environment, what’s on the minds of this influential investor base? In the latest episode of[...]

The recent banking turmoil in the U.S. and Europe triggered by the failure of Silicon Valley Bank — the largest bank failure since the 2008 financial crisis — seems to have abated, but questions remain about whether banking stress could resurge and what policymakers can do to prevent that. In the latest episode of Exchanges[...]

From artificial intelligence and machine learning, to virtual reality and wearable technology, disruptive tech has been at the forefront of markets and investors’ minds. So how are investors and tech founders alike approaching trends in technological innovation during a time of stress in the markets and banking sector? In the latest episode of Exchanges at[...]

Even the world's largest companies aren't immune to activist investors. With the management teams of large-cap companies attracting the attention of activism campaigns, what are the implications for corporate strategy and shareholders? In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs’ Avinash Mehrotra, co-head of America's M&A, who runs activism, shareholder advisory and takeover[...]

In this episode of Exchanges at Goldman Sachs: Great Investors, Stephen Pagliuca, senior advisor at Bain Capital, speaks with Alison Mass, chairman of Goldman Sachs Investment Banking, about his career in private equity at Bain Capital, his views on the economy and investment landscape, and his experience managing the Boston Celtics and Atalanta soccer club.  

In an era of geopolitical instability and economic uncertainty, what are the implications for companies and investors? In the latest episode of Exchanges at Goldman Sachs, George Lee and Jared Cohen, the co-heads of Goldman Sachs’ newly created Office of Applied Innovation, discuss shifts in the geopolitical landscape, how rapidly evolving technology is impacting our[...]

Since the failure of Silicon Valley Bank, investors are closely watching how stress in the financial sector is spreading through markets and the economy. With First Republic Bank and Credit Suisse making headlines, policymakers are examining what they can do to steady markets and restore confidence. So, has the fallout been contained? And what does[...]

The collapse of Silicon Valley Bank and Signature Bank has sparked broader concerns about the health of the banking industry. So what is the significance of these events? In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research’s Richard Ramsden, who leads the coverage of the banking sector, and Lotfi Karoui, chief credit strategist,[...]

Stronger economic data has recently raised concerns that inflation is likely to remain stickier than expected. In the latest episode of Exchanges at Goldman Sachs, Rick Rieder, chief investment officer of Global Fixed Income at BlackRock, and Praveen Korapaty, chief interest rates strategist at Goldman Sachs Research, say interest rates have somewhat further to climb[...]

How are retailers navigating an environment of slowing consumer demand, high interest rates and rising prices? In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs’ Vishaal Rana, is joined by AutoZone Chairman, CEO and President William C. Rhodes III, Best Buy CEO Corie Barry, and Ikea U.S. CEO and Chief Sustainability Officer Javier Quiñones,[...]

As the global economic backdrop continues to improve, is it time to invest in emerging markets? In the latest episode of Exchanges at Goldman Sachs, Kay Haigh, co-CIO of Fixed Income, and Hiren Dasani, co-head of emerging markets equity, within Goldman Sachs Asset & Wealth Management, discuss the recent rally in emerging markets and the outlook[...]

In a special episode of the Exchanges at Goldman Sachs podcast, Goldman Sachs Chairman and CEO David Solomon shares his views on the macroeconomic environment — including his concern that inflation is likely to be “stickier” and harder to manage — as well as what’s on the minds of clients and the CEOs he meets[...]

As new artificial intelligence technologies, such as ChatGPT, capture the public’s imagination, are we at a tipping point in technological advancement — or is this the next bubble? In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research’s Eric Sheridan, head of Internet coverage, and Kash Rangan, head of software coverage, discuss the technologies and investment[...]

2022 was a difficult year for investors' portfolios, and while our Investment Strategy Group expects this year to be less turbulent for markets, there is still a fog of uncertainty facing investors. So, should investors stay invested in the markets? In the latest episode of Exchanges at Goldman Sachs, Sharmin Mossavar-Rahmani, head of the Investment[...]

In this episode of Exchanges at Goldman Sachs: Great Investors, Marc Rowan, CEO and co-founder of Apollo Global Management, speaks with Alison Mass, chairman of Goldman Sachs Investment Banking, about leading one of the world’s largest alternative asset managers, the fundamental changes that are reshaping markets and economies, building a strong workplace culture, and why everyone[...]

Recession was the big fear heading into 2023, but the global growth outlook seems to be — if anything — improving. But could this better growth outlook in itself reignite inflation concerns? In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research’s Jan Hatzius, Stanford’s Hoover Institution’s John Cochrane and Carlyle Co-founder David[...]

In this episode of Exchanges at Goldman Sachs: Great Investors, Pete Stavros, co-head of Americas Private Equity at KKR, speaks with Alison Mass, chairman of Goldman Sachs Investment Banking, about his role in implementing broad-based employee ownership models, his views on the economy and investment landscape, and his efforts to enhance the financial resilience of the[...]

Commodities were the best-performing asset class in 2022 but have recently taken a hit as recession fears loom. So what's in store for them in 2023? In the latest episode of Exchanges at Goldman Sachs, Jeff Currie, global head of commodities research, explains why commodities are poised to outperform. 

What are the long-term trends shaping the global economy? What countries are likely to power global growth in the decades to come? In the latest episode of Exchanges at Goldman Sachs, Kevin Daly, co-head of the economics team covering Central & Eastern Europe, the Middle East and Africa, discusses the team’s long-term projections and the[...]

What’s in store for economies and markets in 2023? In the latest episode of Exchanges at Goldman Sachs, Jan Hatzius, head of Goldman Sachs Research and the firm’s chief economist, and Dominic Wilson, Senior Advisor in the Global Markets Research Group, explain why they believe the U.S. can avoid a recession and how the economic landscape[...]

After soaring to record levels in 2021, the global M&A market slowed in 2022 against a challenging economic environment. So what can we expect in 2023? In the latest episode of Exchanges at Goldman Sachs, Stephan Feldgoise and Mark Sorrell, the co-heads of the Global Mergers and Acquisitions business in Goldman Sachs Investment Banking, discuss[...]

The recent rapid collapse of cryptocurrency exchange FTX on the heels of the crash of Terra’s Luna stablecoin and the failure of the Celsius crypto lending platform has sent shockwaves through the crypto ecosystem. In the latest episode of Exchanges at Goldman Sachs, Former Chairman of the Securities and Exchange Commission Jay Clayton, Former Chairman of[...]

Banks are often seen as a bellwether for the economy—so what are they signaling about the outlook for the US? GS Research’s Richard Ramsden and Alex Blostein discuss in the latest episode of Exchanges at Goldman Sachs, also sharing the themes and sentiment they took away from the recent GS US Financial Services Conference.

Market volatility, inflation and positive correlations across assets have put a question mark on the diversification benefits of multi-asset portfolios. In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research’s Christian Mueller-Glissmann, who heads asset allocation research, breaks down what investors should keep in mind when building portfolios in 2023. 

Rising concerns over climate change are spurring investments into clean energy to help bring the world closer to net zero. But where are we in that transition? And how is that path to decarbonization affecting investments in traditional oil and gas projects? In the latest episode of Exchanges at Goldman Sachs, Michele Della Vigna, head[...]

Central banks’ aggressive policy tightening has raised concerns about what could break in a global financial system accustomed to low rates. In the latest Exchanges at Goldman Sachs, Goldman Sachs’ Allison Nathan speaks with Jeremy Stein, Professor at Harvard University and a former Federal Reserve Board Governor, and Vítor Constâncio, former vice president of the[...]

Plentiful natural gas supplies and mild weather across Europe are creating optimism that the continent may be able to avoid shortages and blackouts this winter. But is that optimism premature? In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research’s Samantha Dart, a senior energy strategist who focuses on the natural gas markets,[...]

As the voting continues from the U.S. midterm elections, the results so far indicate a status quo in country’s political divisions. But what does a divided Congress mean for policy, markets and economic growth? In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research’s Alec Phillips and the Office of Government Affairs’ Joe[...]

As the holiday shopping season kicks off — against a backdrop of high inflation and slowing economic growth — will consumers continue to remain a bright spot in the U.S. economy? In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research’s David Mericle, chief U.S. economist, Kate McShane, U.S. retail analyst, and Eric[...]

Amid rising interest rates, high inflation, and market volatility, a challenging macroeconomic environment is throwing individuals’ retirement readiness off track. In the latest Exchanges at Goldman Sachs, Michael Moran, a senior pension strategist in Goldman Sachs’ Asset Management Division, explains how today's complex backdrop, as well as competing financial priorities, are affecting individual retirement plans.[...]

What’s top of mind for exceptional entrepreneurs? In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs’ Kim Posnett, global head of Investment Banking Services, sat down with two company founders — Henrique Dubugras, co-founder and co-CEO at Brex and Carolyn Childers, co-founder and CEO at Chief — to discuss their founder journeys, how[...]

The 20th Party Congress of the Chinese Communist Party, which kicked off on Sunday, promises to be one of the most significant events for China in modern history, not only because President Xi Jinping is widely expected to secure an unprecedented third term, but also because it comes amid the country’s slowest pace of growth[...]

It’s been a bleak year for the stock market which, despite some short-term rallies, is still firmly entrenched in bear market territory. So where do we go from here? In the latest episode of Exchanges at Goldman Sachs, David Kostin, chief U.S. equity strategist in Goldman Sachs Research, discusses the outlook for U.S. equities and the sectors[...]

What’s behind the volatility in the currency markets—and how much higher can the dollar go? In the latest episode of Exchanges at Goldman Sachs, Kamakshya Trivedi, Head of Global Foreign Exchange, Interest Rates and Emerging Markets Strategy, discusses what a surging US dollar and falling currencies across markets from the UK and Japan to China[...]

One of the fastest-growing sectors in the fashion and apparel industry has been the resale market, fueled by price and environmental concerns. So what are the opportunities and challenges for retailers and investors? And how will the macro challenges facing today’s consumers affect the sector? In the latest episode of Exchanges at Goldman Sachs, James[...]

In the fight to combat high inflation, the Federal Reserve and the European Central Bank have embarked on aggressive tightening paths. But how much damage to economic growth will they ultimately have to inflict to win this fight? In the latest episode of Exchanges at Goldman Sachs, Jan Hatzius, Goldman Sachs’ chief economist and head[...]

Has the stock market hit bottom yet? Or are we seeing another false bottom? In the latest episode of Exchanges at Goldman Sachs, Peter Oppenheimer, Chief Global Equity Strategist and head of Macro Research in Europe, explains why the bear market in stocks isn’t over. Oppenheimer’s latest research, which analyzes the characteristics of bear markets[...]

While the real estate market has been a near sure-fire investment in recent years, rising rates, inflation and recession risks are reshaping the investment landscape. In the latest episode of Exchanges at Goldman Sachs, Jeff Fine, global head of Real Estate Client Solutions and Product Strategy, and Nora Creedon, an investor in our private Real[...]

The business of life sciences came into sharp focus after the pandemic highlighted the effectiveness of mRNA vaccines in protecting people against COVID. But what exactly is life sciences and is the recent market weakness a threat to future innovation — or an opportunity? In the latest episode of Exchanges at Goldman Sachs, Amit Sinha,[...]

The recent decline in commodity prices has provided a rare respite for central banks trying to rein in high inflation. But are the energy and food crises afflicting the world actually easing? In the latest episode of Exchanges at Goldman Sachs, commodity bull Jeff Currie, Goldman Sachs’ Global Head of Commodities Research, and commodity bear Gary[...]

In this episode of Exchanges at Goldman Sachs: Great Investors, Tara Alhadeff, partner at Permira, talks with Alison Mass, chairman of Goldman Sachs’ Investment Banking Division, about investing in iconic brands like Doc Martens, Valentino and Golden Goose and the outlook for discretionary spending in times of volatility.

The Asian American community has seen marked success in education, income and innovation but remains underrepresented in managerial and executive positions, according to new research from Goldman Sachs Research. In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research’s Hui Shan, Chief China Economist, and Daan Struyven, Senior Global Economist, discuss the contributions[...]

In this episode of Exchanges at Goldman Sachs: Great Investors, Eurie Kim, Managing Partner at Forerunner Ventures, speaks with Goldman Sachs’ Katie Koch, Chief Investment Officer of Public Equity in Goldman Sachs Asset Management, about the evolution of direct-to-consumer businesses, her investment philosophy and the dislocation between private and public market valuations.

Small businesses are the life blood of the U.S. economy and the backbone of local communities , but the current economic environment is proving especially challenging. At last week’s 10,000 Small Businesses Summit, more than 2,500 small businesses owners convened in Washington, D.C., to share their experiences and advocate for meaningful policy change. In the[...]

In this episode of Exchanges at Goldman Sachs: Great Investors, Howard Marks, Co-Chairman of Oaktree Capital Management, speaks with Goldman Sachs’ Katie Koch, Chief Investment Officer of Public Equity in Goldman Sachs Asset Management, about his investment philosophy, his views on market cycles and why investing is the “discipline of relative selection.” 

From geopolitical tensions, surging gas prices and energy shortages, how are major companies dealing with the energy transition? In the latest episode of Exchanges at Goldman Sachs, Giulia Chierchia, Executive Vice President of Strategy, Sustainability & Ventures at bp, and Michele Della Vigna, head of Natural Resources Research in EMEA for Goldman Sachs Research, discuss[...]

In this episode of Exchanges at Goldman Sachs: Great Investors, Sandra Horbach, co-head of US Buyout and Growth at The Carlyle Group, talks with Goldman Sachs’ Alison Mass, chairman of Goldman Sachs’ Investment Banking Division, about what it was like to be a trailblazer in the private equity space and the evolution of diversity in the[...]

One of the fastest-growing areas within the private financial markets is private credit— where money managers, instead of banks, lend directly to companies. In the latest episode of Exchanges at Goldman Sachs, Lotfi Karoui, Goldman Sachs Research’s chief credit strategist and head of the credit research group, and James Reynolds, global co-head of Private Credit[...]

How is one of the most senior dealmakers in Europe navigating inflationary pressures? In the latest episode of Exchanges at Goldman Sachs: Great Investors, Tara Davies, Partner, Global Head of Core Infrastructure and Co-head of European Infrastructure at KKR, talks with Goldman Sachs’ Alison Mass, Chairman of the Investment Banking Division, about the European infrastructure space[...]

In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Chairman and CEO David Solomon joined Valentijn van Nieuwenhuijzen, CIO of NN Investment Partners, in The Hague to discuss Goldman Sachs’ recent acquisition of NN IP, the economic environment and the challenges facing companies and investors. This episode is repurposed from NN IP’s recent[...]

How is the leader of the world’s largest sovereign wealth fund navigating slowing economic growth, rising inflation and geopolitical conflicts? In Exchanges at Goldman Sachs: Great Investors, we speak with the world’s most respected investors about their investing strategies, career trajectories and their outlook on markets and the economy. In the latest episode, Nicolai Tangen,[...]

The scale and sophistication of cyberattacks are rising exponentially. But so are the levels of investment, innovation and corporate activity in the space. In the latest episode of Exchanges at Goldman Sachs, David Campbell, managing director in growth equity in Goldman Sachs Asset Management, and Marco Poletti, Goldman Sachs’ head of Cybersecurity Investment Banking, discuss[...]

Investors are facing one of the most challenging backdrops in recent years amid slowing economic growth, rising inflation and geopolitical conflicts. In this special series, Exchanges at Goldman Sachs: Great Investors, we speak with the world’s most respected investors about their investing strategies, career trajectories, and their outlook on markets and the economy. In our most[...]

Against a challenging backdrop of sky-high inflation, rising rates and growing recession concerns, the S&P 500 has had an undeniably grim start to the year, with the tech-heavy Nasdaq and unprofitable growth companies performing even more dismally. In the latest episode of Exchanges at Goldman Sachs, host Allison Nathan turns to three equity market heavyweights[...]

Investors are facing one of the most challenging backdrops in recent years amid slowing economic growth, rising inflation, and geopolitical conflicts. In this special series, Exchanges at Goldman Sachs: Great Investors, we speak with the world’s most respected investors about their investing strategies, career trajectories, and their outlook on markets and the economy. In our most[...]

The pandemic spurred a new generation of retail investors, many of whom are now stepping away from the markets. In the latest episode Exchanges at Goldman Sachs, John Marshall, head of derivatives research in Goldman Sachs Research, Greg Tuorto, a portfolio manager of small to midcap stocks in our Asset Management Division, and David Jeria,[...]

Investors are facing one of the most challenging backdrops in recent years amid slowing economic growth, rising inflation, and geopolitical conflicts. In this special series, Exchanges at Goldman Sachs: Great Investors, we speak with the world’s most respected investors about their investing strategies, career trajectories, and their outlook on markets and the economy. In our[...]

The private financial markets have grown sharply in recent years as easy monetary policies drove investors towards illiquid markets offering higher yields. In the latest episode of Exchanges at Goldman Sachs, Mike Koester, co-president of the Alternatives business in Goldman Sachs’ Asset Management Division, explains how investors in the private markets are navigating cyclical headwinds[...]

The world’s largest investors — insurers — are relatively optimistic about the investment landscape, despite rising concerns about inflation. In the latest episode of Exchanges at Goldman Sachs, Mike Siegel, global head of the insurance asset management and liquidity solutions businesses in Goldman Sachs Asset Management, breaks down the results of the firm’s latest insurance[...]

How low can tech go? The sharp sell-off in technology shares is one of the sector’s worst stretches in years. In our latest Exchanges at Goldman Sachs, Brook Dane, portfolio manager in Goldman Sachs Asset Management, and Peter Callahan, a U.S. TMT sector specialist in our Global Markets Division, discuss the drivers and implications of[...]

As investors pull back from risk assets amid fears of slowing economic growth, what does the future of digital assets and cryptocurrencies hold? In our latest Exchanges at Goldman Sachs, Mathew McDermott, global head of digital assets at Goldman Sachs, looks at how the recent volatility in crypto assets is affecting investor demand for digital[...]

Amid the Russia-Ukraine conflict, COVID-19 lockdowns and associated supply chain disruptions, globalization is arguably facing its biggest test of the post-Cold War era. In this episode of Exchanges at Goldman Sachs, Adam Posen, president of the Peterson Institute for International Economics, Dani Rodrik, professor at the Harvard Kennedy School of Government, and Jim O’Neill, former[...]

The road to reducing greenhouse gas emissions to zero by 2050 has never been more urgent, but geopolitical tensions, supply chain disruptions and rising inflation have led to renewed focus on energy security. In this episode of Exchanges at Goldman Sachs, Kara Mangone, global head of climate strategy, and John Goldstein, head of Goldman Sachs's[...]

As COVID-19 lockdowns in China threaten to further upend supply chains and the global economy, investors are reevaluating their exposure to China. In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research’s Kinger Lau, chief equity strategist in Macro Research, and Hui Shan, Goldman Sachs’ chief China economist, discuss the outlook for China’s[...]

Against a challenging macroeconomic backdrop, a growing number of companies are turning to spinoffs, separations and carve-outs in an effort to create value for shareholders. In the latest episode of Exchanges at Goldman Sachs, Ben Snider, senior strategist on the U.S. Portfolio Strategy macro team in Goldman Sachs Research, and David Dubner, global head of M&A Structuring in[...]

For decades, investors have relied on a 60/40 portfolio — a mix of 60% stocks and 40% bonds — for steady growth and income. But rising stagflation risks are raising the possibility of a “lost decade” of returns for investors in these balanced portfolios while changing the playbook for portfolio construction, according to Christian Mueller-Glissmann, head[...]

Innovations in the U.S. and China have largely overshadowed Europe's tech scene. But now, thanks to supportive government policies and a surge of private capital, the sector is set to take off. In our latest Exchanges at Goldman Sachs, Lisa Yang, head of the European Media and Internet Research team, and Alexander Duval, head of[...]

How is Europe weaning itself from Russian oil and gas? In our latest Exchanges at Goldman Sachs, Goldman Sachs Research’s Samantha Dart, senior energy strategist on the commodities team, Alberto Gandolfi, head of the European Utilities Research team, and Michele Della Vigna, head of Natural Resources Research in EMEA, explain the alternatives to — and[...]

In the latest episode of Exchanges at Goldman Sachs, Former President of the Federal Reserve Bank of Boston Eric Rosengren, Vice Chairman of BlackRock Philipp Hildebrand, and Goldman Sachs’ Head of Global Investment Research and Chief Economist Jan Hatzius discuss how policymakers and businesses are navigating the looming risk of stagflation.

In the latest episode of Exchanges at Goldman Sachs, Salveen Richter, Lead Analyst for the U.S. Biotechnology Sector in Goldman Sachs Research, explains how new innovations in gene editing are transforming the future of medicine and the greater biotech investment landscape. 

In the latest episode of Exchanges at Goldman Sachs, Jung Min, co-COO of Global Technology, Media and Telecom (TMT) and co-head of TMT in Asia Pacific Ex-Japan in Goldman Sachs’ Investment Banking Division, explains the evolution of the gaming industry and why the sector is poised to become the next battleground for big tech.

In the latest episode of Exchanges at Goldman Sachs, Beth Hammack, Goldman Sachs’ co-head of the Global Financing Group in the Investment Banking Division, explains how tightening financial conditions and volatile markets are affecting companies’ ability to raise capital.

In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research’s Daan Struyven, senior global economist, Peter Oppenheimer, chief global equity strategist, and Kamakshya Trivedi, co-head of Global Foreign Exchange, Interest Rates and Emerging Markets Strategy Research, discuss the implications of the Russia-Ukraine conflict on global economies, equities and emerging markets. 

In the latest episode of Exchanges at Goldman Sachs, David Mericle, Goldman Sachs Research’s chief U.S. economist, and Brian Friedman, Global Markets Division’s global head of Market Strats, discuss how the hawkish shift in Fed policy is affecting economic growth, markets and investors.

In the latest episode of Exchanges at Goldman Sachs, Jeffrey Currie, Global Head of Commodities Research in the Goldman Sachs Research, discusses why he believes commodities are entering a supercycle and how the current geopolitical landscape is shaping commodity markets.  

In the latest episode of Exchanges at Goldman Sachs, Toll Brothers CEO and Chairman Doug Yearley and Terry Hagerty, Goldman Sachs’ co-head of Homebuilding and Building Products, discuss the outlook for the housing and home building market in 2022.

In the latest episode of Exchanges at Goldman Sachs, Sharmin Mossavar-Rahmani, Head of the Investment Strategy Group and Chief Investment Officer for the Consumer and Wealth Management Division, discusses the investment themes outlined in ISG’s 14th annual investment outlook and explains why investors should continue to stay invested.

In the latest episode of Exchanges at Goldman Sachs, Jeffrey Shaman, Director of the Climate and Health Program at Columbia University’s Mailman School of Public Health, and Dr. Eric Topol, Founder and Director of the Scripps Translational Science Institute, discuss the rapid spread of the Omicron variant of SARS-CoV-2 and the potential shift to an[...]

In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research’s David Kostin and Global Markets Division’s Jonathan Shugar share their thoughts on how the recent jump in bond yields and sell off in growth stocks are reshaping markets and investor strategy.

In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Chairman and CEO David Solomon shares his thoughts on the year ahead and what he expects for the global economy, markets and corporate activity.

The “metaverse” has captured the imagination of technology investors, but what is it, and what does it signal for the next era of computing? In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research's Eric Sheridan examines how the blending of elements of the physical and digital worlds via virtual reality, augmented reality,[...]

The record wave of M&A activity that we witnessed in 2021 is showing no signs of slowing as we turn the page on a new year. Goldman Sachs’ Stephan Feldgoise and Mark Sorrell, co-heads of the global mergers and acquisition business in the Investment Banking Division, explain the drivers behind the deal-making activity and the[...]

In part 5 of our special miniseries, host Kara Mangone talks to Sarah Lawlor, Chief Operating Officer of the Sustainable Solutions Council in the Global Markets Division about the tools available to ESG investors and how they can find and access opportunities in a Net Zero future.

Despite mixed progress on global climate action at COP26, a key takeaway emerged: the private sector is stepping up to tackle climate change. In this episode, experts from former Bank of England Governor Mark Carney to Engine No. 1’s founder Chris James debate the role—and effectiveness—of the private sector in driving change. 

Retirement expectations in the wake of COVID-19 are evolving and may be at odds with reality, according to the inaugural Retirement Survey & Insights Report from Goldman Sachs Asset Management. 

In part 4 of our special miniseries, host Kara Mangone talks to John Greenwood of our Investment Banking Division and Ahmed Saeed of the Asian Development Bank on the role public-private partnerships will play in the drive to Net Zero.

India’s digital transformation is driving a surge in tech IPOs that is reshaping its markets and economy. Goldman Sachs Research’s Tim Moe, Sunil Koul and Santanu Sengupta explain the drivers that are powering economic growth and markets, fueling IPOs and creating emerging investment opportunities. 

In part 3 of our special miniseries, host Kara Mangone explores nature based solutions in sustainable finance with Peter Kelly and Lisa Williams of GS' Asset Management Division.

Global economies and markets are facing a more complicated landscape amid rising rates, slowing growth and shifting monetary and fiscal policies. Goldman Sachs’ Jan Hatzius and Dominic Wilson examine what’s in store for 2022. Dates Recorded: November 23rd and 29th, 2021.

Part 2 of our special miniseries: Host Kara Mangone and Michele Della Vigna, head of Natural Resources Research in EMEA discuss the role capital markets, public policy, and technology will play in moving toward a sustainable future.

As U.S. inflation hits 30+ year highs, experts debate whether the “temporary” pandemic-related inflationary pressures could prove persistent. In the latest Exchanges at Goldman Sachs episode, Goldman Sachs’ Allison Nathan speaks with Mohamed El-Erian, President of Queens’ College, Cambridge University, and Chief Economic Advisor at Allianz, and Jan Hatzius, Goldman Sachs’ Chief Economist and head[...]

In the kickoff episode of our new sustainability miniseries, Accelerating Transition, John Goldstein and Kara Mangone of Goldman Sachs’ Sustainable Finance Group discuss what it will take from both the private and public sectors to achieve the climate goals necessary for a sustainable future. 

How has the surge in cyberattacks—and companies’ efforts to counter these efforts—evolved? Matthew Chung, Goldman Sachs' Chief Information Security Officer, Wesley Williams, head of the firm's Security Incident Response team, and Andy Boura, the Chief Information Security Officer for the Consumer Banking Business explain how cybersecurity is adapting to new threats.

Amid a record-setting IPO market, one group of companies going public stands out—the makers of things we use in our everyday lives. On this episode, host Allison Nathan speaks with Jennifer Davis and Vishaal Rana from the Investment Banking Division’s Consumer Retail Group about why investors are enthusiastic about consumer goods and services.

Will the Euro area's unprecedented program of fiscal risk sharing in response to the pandemic, and a new, likely less fiscally conservative, ruling coalition in Germany increase integration, raise growth and improve investor returns in the region? In the latest episode, experts debate whether the current moment will go down as a seized—or (another) missed—opportunity[...]

Goldman Sachs’ Joe Wall of the Office of Government Affairs explains why small business owners’ sentiment has turned sharply negative as the pandemic continues and host Allison Nathan speaks with three business owners about their current experiences.

As natural gas prices hit record highs in Europe and Asia, what does that mean for the broader commodity complex? Goldman Sachs Research’s Damien Courvalin explains the impact of rising prices on energy costs, inflation and economic growth. 

Hedge funds are turning to the private markets, bringing increasing competition to the space. Goldman Sachs’ Kristin Kramer and Freddie Parker explain the shift in public and private market dynamics and the implications for investors. 

As the Chinese government continues to carry out unprecedented regulatory tightening, what does the new environment mean for China’s growth and investment outlook? Goldman Sachs Research senior strategist and creator of the firm’s Top of Mind report, Allison Nathan, speaks with China watchers to better understand the motivations behind the government’s actions and whether they[...]

Global equity issuance is up substantially and on track to set new records in 2021. Goldman Sachs’ Elizabeth Reed explains why—and how—more companies are choosing to go public today. 

Goldman Sachs’ Chief Economist Jan Hatzius describes his outlook for global growth, Fed tapering, inflation and jobs.

Goldman Sachs’ Stephanie Hui, Basak Yavuz and Prakriti Sofat of the Asset Management Division describe the impact of China's heightened regulatory scrutiny on the capital markets and the implications for investors.  

How is the fast-spreading Delta variant affecting the outlook for reopening and economic growth? Goldman Sachs Research’s Terence Flynn and Daan Struyven break down the implications for vaccines, booster shots and the economy on Exchanges at Goldman Sachs.

Can the record pace of M&A continue? Goldman Sachs’ Mark Sorrell and Stephan Feldgoise, co-heads of global M&A for the Investment Banking Division, discuss the outlook, drivers and structures of M&A activity on Exchanges at Goldman Sachs. 

With their unique structures, family offices are increasing their allocation to alternative investments and acting more like institutional investors, according to a new report from Goldman Sachs, Widening the Aperture: Family Office Investment Insights, which draws on a cross-divisional survey of more than 150 Goldman Sachs clients around the world.

Three leading voices in the “femtech” space—Ann Roberts of Flo Health, Lea von Bidder of Ava and Dr. Peter Kecskemethy of Kherion Medical—join Goldman Sachs’ Antonia Riera and Allison Nathan to discuss the convergence of technology and healthcare to advance women’s health. 

As companies look to reduce their carbon footprints, decarbonization strategies are taking center stage. Goldman Sachs’ John Greenwood and Cindy Quan discuss the efforts by corporations to reach their net-zero goals.

Does President Biden’s economic agenda represent a new progressive era in the U.S.? Goldman Sachs Research’s Allison Nathan discusses how big of a shift in U.S. economic policy Bidenomics truly represents and the implications for the economy with David Brady, professor at the Stanford Graduate School of Business; Jason Furman, professor at the Harvard Kennedy[...]

Goldman Sachs Research’s Toshiya Hari, Kota Yuzawa and Rod Hall discuss the impact of the global semiconductor chip shortage across industries and supply chains.  

The economic outlook for Europe appears to be brightening, but how sustainable is the recovery? Goldman Sachs’ Allison Nathan speaks with Jari Stehn, chief European economist for Goldman Sachs Research, and Richard Privorotsky, manager of European Cash Equities trading in the Global Markets Group, on the prospects for the region’s long-term recovery and how the[...]

How did women entrepreneurs fare during the pandemic? Goldman Sachs’ Asahi Pompey, Global Head of Corporate Engagement, and Candice Tse, U.S. Head of Market Strategy in Goldman Sachs Asset Management’s Strategic Advisory Solutions team, discuss the findings from a new report on this topic in Exchanges at Goldman Sachs. 

The industrials sector—historically comprised of mature businesses without as much need for near-term growth capital—has seen robust IPO activity so far in 2021, with no signs of slowing down. Matt McClure, co-head of the Investment Banking Division’s global industrials group, explains what’s driving the activity and how clients are thinking about accessing the public markets.

Should cryptocurrencies be considered an institutional asset class? That’s the question Goldman Sachs’ Allison Nathan explores on this episode of Exchanges at Goldman Sachs in conversations with Galaxy Digital’s Michael Novogratz, NYU’s Nouriel Roubini and Goldman Sachs’ Mathew McDermott. 

Amid rising concerns over inflation, David Mericle of Goldman Sachs Research explains the big-picture risks to the economy, while Josh Schiffrin from the Global Markets Division looks at market implications on this episode of Exchanges at Goldman Sachs. 

A surge in green capex—combined with the lack of copper mining projects—will lead to a multi-year bull market in copper, explains Goldman Sachs Research’s Nick Snowdon. 

How do companies identify new business opportunities? Goldman Sachs’ Tanya Baker and Hasan Malik, co-heads of the firm’s GS Accelerate program, and Daniel Kovenat, whose business idea was developed through the program, share their views on how to foster innovation. 

Jake Siewert, outgoing global head of corporate communications, reflects on how communications, media relations and the role of podcasts as a communications vehicle have changed since he joined the firm in 2012.  

Goldman Sachs Asset Management’s annual insurance survey finds that insurers plan to increase the overall risk in their investment portfolios.

Jennifer Roth of Global Markets discusses how emerging markets are faring during a continuing pandemic and a nascent economic recovery. 

In the wake of a court ruling backing same-sex marriages in Japan, Goldman Sachs’ Hiroki Inaba, Masakazu Yanagisawa and Akoko Koda discuss the evolution of gay rights in Japan and companies’ efforts to create more inclusive environments.

Zach Pandl, co-head of foreign exchange strategy for Goldman Sachs Research, explains why he’s still long-term bearish on the greenback. 

Jennifer Davis and Vishaal Rana of the Investment Banking Division discuss the fate of brick-and-mortar retail locations and why the seamless omnichannel experience is the future of consumer retail.

Goldman Sachs’ Benny Adler, co-head of the Americas Franchise Trading team, explains the supply-and-demand dynamics behind the “unprecedented’ amount of equity issuance. 

With fiscal stimulus and accommodative monetary policy buoying the U.S. economic recovery, prominent economists from former Treasury Secretary Lawrence Summers to former IMF Chief Economist Olivier Blanchard have raised concerns that the U.S. economy could be headed for overheating and inflation. In the latest episode of Exchanges at Goldman Sachs: Top of Mind, host Allison[...]

With valuations and rising interest rates, Goldman Sachs' Brett Nelson, head of tactical asset allocation for the Investment Strategy Group, discusses the outlook for U.S. equity markets.

A new report from Goldman Sachs Global Investment Research examines the history of financial bubbles and the qualifications for what defines one. Peter Oppenheimer, chief global equity strategist, discusses how today’s strong equities performance may have elements that resemble a bubble, but looks at other factors that argue against that assessment.

As supply-chain disruptions cause delays and higher prices, Global Investment Research’s Joseph Briggs explains the impact on inflation and the rates market. 

In this special episode, four leaders across Goldman Sachs—Alec Phillips of Goldman Sachs Research, Amelia Garnett of Global Markets, Susie Scher of the Investment Banking Division, and Ashish Shah of the Asset Management Division—discuss what the $1.9 trillion American Rescue Plan means for the economy, markets, corporations and investors.   Recorded March 17, 18, and[...]

Rising interest rates in 2021 have bolstered the funding status of corporate defined pension plans to their highest levels in years. Goldman Sachs Asset Management’s Mike Moran explains how pensions plans have fared in 2020 in his latest report as well as his outlook for this year. 

In this episode, Gizelle George-Joseph of Goldman Sachs Research discusses the staggering gaps Black women face across a range of economic measures—including wealth, earnings, and access to healthcare—as outlined in her team’s recent Black Womenomics research report. Next, David Solomon, Chairman and CEO of Goldman Sachs, and Margaret Anadu of the Asset Management Division discuss[...]

Marty Young of Goldman Sachs Research discusses his team’s new report on the US housing market, one of the most rate-sensitive sectors of the US economy, and why he expects house price appreciation to continue to remain positive even in the event of an interest rate shock. 

Diana Dieckman and Freddie Parker of Prime Service within Goldman Sachs’ Global Markets Division talk about the state of the hedge fund industry and the current sentiment among fund managers and allocators. 

Mathew McDermott, head of Digital Assets for Goldman Sachs’ Global Markets Division, discusses the cryptocurrency trading environment for institutional investors. 

The volatile start to 2021—with some heavily-shorted stocks unexpectedly skyrocketing in late January—seemed to have subsided. But with some of these stocks again on the rise, we ask what factors caused this volatility, how likely it is to repeat, what could prevent this, and what it signals about, or for, markets. Allison Nathan, creator and[...]

Paget MacColl, co-head of the Americas Institutional Client Business within Goldman Sachs Asset Management, shares takeaways from GSAM’s annual healthcare diagnostic, which surveys CIOs of nonprofit healthcare organizations and hospital systems. MacColl is joined by Stefan Strein, chief investment officer for the Cleveland Clinic, who talks about managing a portfolio through a public health crisis[...]

To start the episode, Joe Wall of Goldman Sachs’ Office of Government Affairs gives an overview of survey results from nearly 1,300 Goldman Sachs Small Businesses participants who answered questions about PPP funding, access to capital, affordable healthcare, the personal toll of COVID-19, and more. Then, two graduates of the Goldman Sachs 10,000 Small Businesses[...]

Kash Rangan, lead software analyst for Goldman Sachs Research, talks about how the pandemic has accelerated investment in the software sector and the key opportunities that lie ahead. 

Peter Oppenheimer, Goldman Sachs’ chief global equity strategist and head of Macro Research in Europe, talks about why the changing mix of policy support in this cycle suggests a possible inflection point towards a more reflationary environment.

Stephan Feldgoise and Mark Sorrell, co-heads of global mergers & acquisitions in Goldman Sachs’ Investment Banking Division, discuss the key drivers behind historic levels of M&A activity, their positive outlook for dealmaking in 2021, and the resurgence of cross-border transactions. 

Catie O’Brien of Goldman Sachs Research talks about her outlook for the airline industry in 2021 and why her team is forecasting an uptick in demand in the second half of the year. 

Sharmin Mossavar-Rahmani, Chief Investment Officer for Goldman Sachs Private Wealth Management, discusses her team’s investment outlook for 2021 and why she is telling clients to stay invested. “Our recommendation of US preeminence and staying invested has served our clients well,” Mossavar-Rahmani says. “People might think that those two themes have outlived their value, and our[...]

Joe Duran, head of Personal Financial Management, a Goldman Sachs company, discusses the rise in retail investing and what it means for individual investors’ portfolio strategies. 

In this special episode, four leaders across Goldman Sachs—Raj Mahajan of the Global Markets Division, John Marshall of Goldman Sachs Research, Lizzie Reed of the Investment Banking Division, and Greg Tuorto of Goldman Sachs Asset Management— discuss the historic rise of retail investing and its profound implications for market participants.

With the strength of the IPO market and the surge in IPOs via SPACs continuing into 2021, host Allison Nathan, creator and editor of the firm’s Top of Mind report, asks experts whether or not these trends are sustainable. She speaks with Goldman Sachs’ head of Global Equity Capital Markets, David Ludwig, Professor of Finance[...]

Scott Rubner of Goldman Sachs' Global Markets Division recaps historic inflows into global equities in January and talks about the ongoing retail trading phenomenon and what it means for markets.

Pierre Hudry, head of Goldman Sachs' Paris office, talks about the landscape in France for both small businesses and large corporations as the economy recovers from the pandemic. 

One year after Goldman Sachs’ first-ever Investor Day, Stephen Scherr, the firm’s Chief Financial Officer, provides an update on how the firm is tracking against its goals and why 2021 will be a “year of execution.”

Alec Phillips, chief political economist for Goldman Sachs Research, talks about the policy outlook for the year ahead.

Jennifer Roth of Goldman Sachs' Global Markets Division gives a quick update on why investors have been turning to emerging markets amid the global backdrop of low interest rates.

Olympia McNerney of Goldman Sachs’ Investment Banking Division talks about the continued momentum behind SPACs as an alternative path for companies to raise money in the public markets. 

As part of a client call hosted on January 8th, Jan Hatzius, Goldman Sachs’ chief economist, talks about why his team continues to forecast above-consensus growth for 2021, despite the weak US jobs report for December. 

Joe Wall of Goldman Sachs’ Office of Government Affairs explains what’s included -- and what’s not – in the US’ second stimulus package of 2020. Wall also talks about other policy priorities that investors are watching for in the new year. This podcast was recorded on the morning of December 21, 2020. 

Richard Ramsden, business unit leader of the Financials Group for Goldman Sachs Research, provides an update on the financial services industry and the market backdrop going into 2021.

Jeff Currie, head of Commodities Research for Goldman Sachs Research, talks about why his team is bullish on commodities for 2021.

Drew Pavlovich of Goldman Sachs’ Consumer and Wealth Division recaps a historic year in financial markets and talks about how clients are positioning their portfolios going into 2021. 

Gregg Lemkau, co-head of the Investment Banking Division, reflects on how the industry and the firm have changed – and stayed the same – since he joined Goldman Sachs in 1992.  

Moran Forman of Goldman Sachs’ Global Markets Division gives her take on how institutional investors are viewing market pricing and volatility going into the last few weeks of the year.

Scott Rubner of Goldman Sachs' Global Markets Division breaks down the record-setting November in equity markets and talks about investor sentiment going into year-end.

Andrew Tilton, chief Asia-Pacific economist for Goldman Sachs Research, talks about his team’s economic outlook for Asia-Pacific in 2021, and why they’re forecasting above-consensus growth. “We’re optimistic about growth in Asia-Pacific next year,” Tilton says. “We think the region could grow more than 7% in 2021. We’re optimistic about the world also – we think[...]

Goldman Sachs Research remains confident about the global recovery in 2021, says Peter Oppenheimer, the firm’s chief global equity strategist. “We are optimistic for equity markets, risk assets and indeed the economy,” Oppenheimer says in this episode, and goes on to explain why he thinks the current bull market is transitioning from a “hope” phase[...]

Wolfgang Fink, CEO of Germany and Austria for Goldman Sachs, talks about why Germany’s economy has weathered the pandemic better than that of many of its European neighbors and what’s ahead on the road to recovery. 

David Kostin, Goldman Sachs Research’s Chief U.S. Equity Strategist, looks back at an events-heavy week and what it means for markets in the days ahead.

Salveen Richter, lead analyst for the US Biotechnology sector in Goldman Sachs Research, talks about Pfizer’s clinical-trial results for its COVID-19 vaccine and the obstacles that still lie ahead for FDA approval and widespread distribution.

Jan Hatzius, Chief Economist for Goldman Sachs, and Alec Phillips, Chief Political Economist, discuss the outlook for economic recovery and the impact of the US election on global growth in 2021. This podcast leverages a Goldman Sachs Research client call, hosted the morning of November 9th, 2020. 

Ashok Varadhan, global co-head of Goldman Sachs’ Global Markets Division, on how markets have moved in response to the US election and what investors expect in terms of economic recovery and policy agendas looking ahead. 

Amelia Garnett of Goldman Sachs' Global Markets Division talks about the key conversations she's having with investors ahead of the November 3rd election.

From the 2020 virtual Builders + Innovators Summit, Goldman Sachs' Kim Posnett speaks with two founders -- Irving Fain of Bowery Farming and Sheila Gujrathi of Gossamer Bio -- about their experiences leading through an unexpected year and the backdrop for entrepreneurship more broadly.

Alec Phillips, chief US political economist for Goldman Sachs Research, provides an update on investors’ expectations for the upcoming election on November 3rd. 

Jason Granet, head of the firm’s LIBOR transition effort, gives an update on the timing and impact of the industry-wide transition away from the London Inter-bank Offered Rate (LIBOR).

Tony Pasquariello of Goldman Sachs' Global Markets Division gives an update on US equity performance and why 2020 has driven so much trading activity.

Charlotte Keenan, head of the Office of Corporate Engagement’s international responsibilities, talks about how small businesses in the U.K. are pivoting and persevering through the pandemic.

Jason Mathews of Goldman Sachs’ Global Markets Division explains what the futures market indicates about investors’ outlook for the election and another round of U.S. fiscal stimulus. 

Mike Moran, senior pension strategist for Goldman Sachs Asset Management, discusses how COVID-19 and the resulting market volatility have impacted defined benefit pension plans and participants in defined contribution plans, and what to consider going forward.

Back in February, Erin Riley of Goldman Sachs’ Markets Coverage Group was our first podcast guest to discuss the coronavirus and its implications for markets. In this episode, she’s back on the show to discuss the current state of things and where investors go from here after the equity market’s stunning recovery. Riley says her[...]

Matt McClure, co-head of the Global Industrials Group in Goldman Sachs' Investment Banking Division, discusses the high volume and velocity of deal activity in the sector since March. 

As the pandemic has increased our reliance on digital platforms and services, debate around tech regulation has come into the spotlight, from antitrust enforcement to consumer privacy protection to national security concerns. In this episode, Faryar Shirzad, global head of Goldman Sachs’ Office of Government Affairs, gives an overview of the moving parts of tech[...]

Jennifer Roth of Goldman Sachs’ Global Markets Division talks about how emerging-market economies are trying to steer their way toward a recovery, and how investors are responding to those efforts.

As lockdown measures turned our real lives digital, we’ve looked to social media to connect with the outside world. This has only accelerated trends within the industry, like the increasing appetite for user-generated short-form video. To explore these shifting habits, Heather Bellini and Piyush Mubayi of Goldman Sachs Research discuss consumers’ social media consumption in[...]

The pandemic began a massive, unexpected work-from-home experiment. That has led companies to rely on technology in new ways to keep their employees connected, productive, and happy.   Heather Bellini of Goldman Sachs Research and Ryan Nolan of the Investment Banking Division talk about the opportunity for software to unlock productivity gains in the world’s 1.25[...]

Staying at home has resulted in sharp increases in streaming-video consumption, as well as entertainment companies moving some of their big releases from movie theaters to on-demand video. This has upended the entertainment landscape, creating challenges and opportunities for content creators, distributors and exhibitors. In this episode, Brett Feldman of Goldman Sachs Research, Adam Agress[...]

Tony Pasquariello of Goldman Sachs' Global Markets Division explains how and why major stock market indices have backtracked somewhat from record highs in August, and what it all means for the forward-looking equity outlook. "I don't think we should get too worked up about the turbulence we've encountered in September, just given the astonishing run[...]

Three interns from Goldman Sachs' first virtual intern class share their perspectives with Bentley de Beyer, global head of Human Capital Management. 

Dominic Ashcroft and Luke Gillam, co-heads of EMEA Leveraged Capital Markets in Goldman Sachs’ Investment Banking Division, talk about the “cautiously optimistic” sentiment among corporate clients. 

Goldman Sachs’ Chief Strategy Officer Stephanie Cohen talks with three "Launch with GS" CEOs about their founder journeys and lessons learned while leading through times of crisis. The founders, who are all part of the "Launch With GS" Black and Latinx Entrepreneur Cohort, are Helen Adeosun of CareAcademy, Sean Mitchell of REZI, and Max Tuchman[...]

Michael Cassell of Goldman Sachs' Global Markets Division talks about the cautious optimism with which investors are viewing the current equity market rally.

David Kostin, Goldman Sachs' chief U.S. equity strategist, shares Goldman Sachs Research's latest forecasts for the S&P 500.

Tony Pasquariello of Goldman Sachs' Global Markets Division and Joe Wall of the Office of Government Affairs discuss how investors are viewing the upcoming U.S. election in November. 

Katie Koch, co-head of the Fundamental Equity business within Goldman Sachs Asset Management, talks about why diversity gives investing teams a competitive edge. 

Olympia McNerney of Goldman Sachs talks about what’s been driving the surge in SPACs as an alternative avenue for companies to raise money in the public markets. 

Susie Scher, co-head of the Global Financing Group in Goldman Sachs' Investment Banking Division, talks about how companies are meeting their financing needs in this environment and the broader sentiment for banking activity in the second half of 2020. Additionally, Scher shares her thoughts on how to recruit and develop diverse talent, as well as advice[...]

Christian Mueller-Glissmann of Goldman Sachs Research discusses his new research about asset allocation with the risk of ‘fat and flat’ markets.

In this episode of our Venture Capital Horizon series with Heath Terry of Goldman Sachs Research, we dive into the future of e-commerce and the adoption of robotics in everything from manufacturing to packaging and delivery.

Jose Manuel Barroso, chairman of Goldman Sachs International, provides an update on Europe’s latest fiscal stimulus package. 

Mike Siegel of Goldman Sachs Asset Management summarizes key investment trends from GSAM’s 2020 Insurance Report. 

Jim Esposito, global co-head of Goldman Sachs’ Global Markets Division, recaps a “gritty” second quarter, the importance of technological resilience, and the ongoing commitment to client centricity. 

Steve Strongin, a senior advisor at Goldman Sachs, discusses the future of ESG investing, based on a new Goldman Sachs Research report, Sustainable ESG Investing: Turning Promises into Performance. 

Tony Pasquariello of Goldman Sachs' Global Markets Division recaps the historic market rally of the second quarter and talks about how institutional investors are viewing Q3 and the remainder of 2020.

Zach Pandl of Goldman Sachs Research explains the factors driving U.S. dollar weakness.

Richard Ramsden of Goldman Sachs Research explains what the results from U.S. banks’ latest stress tests say about the health of the industry.

Kristin Olson, global head of the Alternative Capital Markets Group in Goldman Sachs' Consumer and Investment Management Division, explains where investors are finding value in alternative asset classes.

Amelia Garnett of Goldman Sachs' Global Markets Division provides an update on how institutional investors are weighing market risks, from an uptick in COVID-19 cases to the U.S. election.

Tim Ingrassia, co-chairman of Global Mergers & Acquisitions for Goldman Sachs Investment Banking, provides an update on the recent M&A slowdown. “I fully expect M&A to normalize and recover because all those deals that aren’t happening right now, some significant percentage of them are deals that will happen,” Ingrassia says. “And so then it’s a[...]

In this episode, Philip Berlinski, COO of Global Equities, provides an update on equity markets, from the growth in day trading to the role of active management in the COVID-19 crisis to the impact of the U.S. presidential election in November. 

In this episode, Hari Moorthy, head of Transaction Banking for Goldman Sachs, talks about innovations in banking technology for corporations and what it’s been like to build the first-ever digital-only transaction bank over the past two years.  

Lizzie Reed of Goldman Sachs’ Investment Banking Division gives an update on what’s been driving investor interest in equity markets. 

Fred Baba, a managing director in Goldman Sachs' Global Markets Division, reflects on a raw and honest email he wrote this week about his experience with racism and discrimination as a black man in America, as well as how his co-workers can best support the black community moving forward. Baba's email has been shared around[...]

Steve Strongin, a senior advisor for Goldman Sachs, discusses a new framework for investing after COVID-19.

Michael Cassell of Global Markets gives a quick update on how investors are approaching market risks, from U.S.-China tensions to ongoing COVID-19 uncertainty. 

Heath Terry of Goldman Sachs Research explores clean energy and the advances in nuclear power technology as part of his team’s Venture Capital Horizon series.

Tony Pasquariello, global head of hedge fund coverage for Goldman Sachs’ Global Markets Division, provides an update on how investors are reacting to the gradual re-opening of the U.S. economy, historic government stimulus efforts, potential vaccine developments, and ongoing US-China tensions. 

Goldman Sachs has committed $500 million in lending capital to provide Paycheck Protection Program, or PPP, loans to small businesses suffering in this crisis. In this episode, Margaret Anadu, head of the firm’s Urban Investment Group, provides an update on the more than 8,000 small businesses across the country that the firm has reached through[...]

In this episode, leveraging a client call from Goldman Sachs Investment Banking, leaders from across the financial services industry discuss the pandemic’s impact on the ESG landscape, including how corporations and investors are responding. The conversation features Mark Wiedman, a senior managing director at BlackRock, Katherine Collins, head of Putnam Investment’s sustainable investing, Martin Whittaker,[...]

Asahi Pompey, global head of Corporate Engagement and president of the Goldman Sachs Foundation, interviews three graduates of the Goldman Sachs 10,000 Small Businesses program to talk about their experiences with PPP loans, what’s keeping them up at night, and how they’re pivoting to adapt to changing industries and a changing society. The entrepreneurs are Khari Parker,[...]

Jen Roth of Goldman Sachs' Global Markets Division provides an update on how COVID-19 is impacting investor sentiment in emerging markets. 

In a recent client call held by Goldman Sachs Research, Brian Dodge, President of the Retail Industry Leaders Association, discusses how retailers will re-open. Dodge is joined by Goldman Sachs Research’s Kate McShane, Alex Walvis, and Jenna Giannelli, who all cover the retail sector. 

Alex Blanchard of Goldman Sachs’ Global Markets Division shares an update on how global central banks are responding to liquidity concerns. 

Goldman Sachs CFO Stephen Scherr and other senior leaders across the firm discuss topics that are top of mind for CFOs in the current environment, from financing markets and liquidity concerns, to earnings guidance and economic outlooks. 

Sarah Kiernan of Goldman Sachs’ Global Markets Division gives her quick take on the latest market volatility, including investors’ reactions to record-low oil prices.  

To share Goldman Sachs’ latest analysis on record price declines in oil markets, this episode leverages a client call, featuring Jeff Currie, Damien Courvalin and Brian Singer of Goldman Sachs Research, and Anthony Dewell of EMEA Commodity Trading in Global Markets. The call was held the morning of April 21st, 2020. 

In this episode, Terry Hagerty, co-head of homebuilding & building products investment banking for Goldman Sachs, discusses how COVID-19 has impacted the outlook for housing and the broader building products sector. Despite the severity of the current slowdown, Hagerty points to favorable demographic tailwinds as reasons to expect a return to industry growth into 2021.[...]

As volatility continues in the public markets, Meena Flynn of Goldman Sachs’ Consumer and Investment Management Division gives her analysis on the latest swings and explains how investors with permanent capital are positioning themselves. 

Ashok Varadhan, global co-head of Goldman Sachs’ Global Markets Division, talks about how financial trading has adapted to a primarily remote workforce and also shares takeaways from the division’s strong first quarter performance. 

Goldman Sachs Chairman and CEO David Solomon shares his views on the pandemic and the economic impact, alongside other of the firm’s senior leaders. 

In this episode, Margaret Anadu, head of Goldman Sachs’ Urban Investment Group, talks about COVID-19’s impact on US small businesses and explains the firm’s recent announcement to commit $500 million in capital for emergency loans to small businesses. Then, three entrepreneurs and graduates of Goldman Sachs’ 10,000 Small Businesses program share their personal stories -- Erin Andrews[...]

Anne Marie Darling of Goldman Sachs’ Global Markets Division analyzes the S&P 500 index’s historically fast fall into bear market territory and shares results of the April Marquee QuickPoll, a survey of institutional clients which found that about half of respondents don’t believe lows have been set yet.  

In an effort to provide timely and valuable updates regarding ongoing market volatility and potential economic impacts, we’re sharing a “Market Update” call hosted by our Investment Banking Division. In the conversation, Goldman Sachs President and COO John Waldron provides an update on the current environment, alongside other senior leaders across the firm.

Andrew Wilson of Goldman Sachs Asset Management explains how volatility in U.S. financial markets from the COVID-19 outbreak is playing out across Europe as well. “European markets have been very much in the eye of the storm,” Wilson says. “So the focus is on what policy responses are coming out of Europe, just as much[...]

Goldman Sachs’ top economists and strategists discuss revised forecasts for the US economy and corporate earnings and the prospect of federal stimulus programs in the face of the COVID-19 outbreak. 

Joe Montesano, head of Americas Equity Trading for Goldman Sachs, analyzes how the coronavirus pandemic continues to add volatility to markets. Montesano also talks about parallels and differences in today's market environment compared to that of the 2008 global financial crisis.

Amid the uncertainty surrounding the coronavirus pandemic, Goldman Sachs’ global medical director Dr. Michael Rendel joins by phone to talk about what employees can do to stay healthy and productive while working remotely – from setting up comfortable work stations to taking time for meditation and exercise. Dr. Rendel also talks about the importance of[...]

Alex Blanchard of Goldman Sachs' Global Markets Division analyzes the Fed's recent decisions to increase liquidity amidst market volatility.

Jeff Currie, global head of Commodities Research for Goldman Sachs, explains the latest on the price war in the oil market. 

Amelia Garnett of Goldman Sachs' Global Markets Division provides a quick update on how investors are responding to ongoing volatility around coronavirus concerns.

The latest episode of Exchanges at Goldman Sachs premieres a new monthly feature: An examination of a topic at the center of conversations in the venture-capital community. This week, Goldman Sachs Research’s Heath Terry explores the growing world of computational biology—using the power of big data to revolutionize drug discovery, disease prevention and cancer detection. Terry[...]

After a volatile week in markets, Erin Riley of Goldman Sachs’ Consumer and Investment Management Division talks about how coronavirus is weighing on investor sentiment. 

Sean Legister, a vice president in the Global Markets Division, talks about overcoming imposter syndrome on the Goldman Sachs trading floor and what led him to start Breakfast Bites, a monthly fireside chat connecting black colleagues with senior leaders. Legister tells podcast host Jake Siewert, “When I looked at the black population, particularly within the[...]

Michael Cassell of our Global Markets Division shares the top numbers he's watching in markets right now.

From the 2020 Global Macro Conference in Hong Kong, Steve Strongin and Jan Hatzius of Goldman Sachs Research sat down for a discussion all about connections: why economic cycles and market cycles are increasingly independent, why economic volatility has declined while market volatility has largely remained the same, and how shocks like political surprises and[...]

Jordan Meer of Goldman Sachs' Renewable Power Group gives his quick take on the five numbers he's watching in renewable energy markets.

Sharmin Mossavar-Rahmani, chief investment officer of Goldman Sachs’ Private Wealth Management Division, summarizes her team's 2020 investment outlook and explains why she's telling clients to stay invested in the stock market.

Denis Coleman, co-head of Goldman Sachs' Global Financing Group in the Investment Banking Division, joins host Jake Siewert to talk about the business and financing environment in Europe.

Sarah Kiernan of Goldman Sachs' Global Markets Division gives her quick take on the five numbers she's watching in markets.

This week, Goldman Sachs opened its doors for its first-ever Investor Day in its 150-year history. In this episode, Goldman Sachs CFO Stephen Scherr recaps the day and explains how leadership is trying to increase transparency with clients by releasing three-year financial targets, restructuring its business segments, and more. Scherr, who has been at Goldman Sachs[...]

Scott Rubner of Goldman Sachs Global Markets talks through the five numbers he’s watching in markets, from $671 billion of money market inflows to the 32% “January effect.” Then, Catie O’Brien, also of Global Markets, provides a deep dive into the airline industry, including how the Boeing 737 Max is impacting supply and profitability, and[...]

To start the episode, Goldman Sachs' Oscar Ostlund talks through the five numbers he’s watching in markets, from China’s debt-to-GDP ratio to the Euro-USD exchange rate. Then, Michele Della Vigna of Goldman Sachs Research explains his latest “carbonomics” research and how climate change is reshaping the energy industry through technological innovation and capital markets pressure.  

David Kostin, chief US equity strategist for Goldman Sachs Research, discusses his team's forecasts for US stocks in the year ahead. But before that, Tony Pasquariello, global head of hedge fund coverage for Goldman Sachs Securities Division, walks through the five numbers he's watching in markets.

In this episode, John Goldstein, head of Goldman Sachs’ Sustainable Finance Group, talks about the firm’s recent sustainability announcement to invest or finance $750 billion of capital over the next 10 years across two themes–climate transition and inclusive growth. Goldstein highlights the commercial motivation behind the firm’s sustainability strategy. “This is grounded in a core view[...]

In this episode, Jake Siewert sits down with Jari Stehn of Goldman Sachs Research to discuss his team’s outlook for Europe’s economy in 2020. “We think 2020 is going to be a better year for Europe than 2019,” Stehn says. “We expect growth to be 1.1% next year, which is a bit above consensus, and[...]

Healthcare CEOs in the US are “trying to set course in an otherwise unpredictable, highly uncertain world,” according to this episode’s guest, Marshall Smith, global head of Goldman Sachs’ healthcare investment banking. The uncertainty, stemming from global growth concerns, trade policy risk and drug pricing debates, is a consistent theme across the healthcare industry, but[...]

The latest episode of Exchanges at Goldman Sachs was recorded at the firm’s recent 2019 Builders + Innovators Summit, which convened nearly one hundred entrepreneurs from various industries to share their stories and learn from one another. Host Jake Siewert was joined by Investment Banking Division co-head Gregg Lemkau, as well as Brynn Putnam, founder[...]

What’s all the buzz around direct listings? How are companies weighing IPOs vs. alternatives to raising capital in the public markets? Those questions were the focus of a recent panel at the Goldman Sachs Private Innovative Company Conference. Goldman Sachs’ Will Connolly, Spotify CFO Barry McCarthy, and Latham & Watkins partner Greg Rodgers sat down[...]

In this episode, David Solomon reflects on his first year as Goldman Sachs CEO: “I've been very focused on making sure that our client focus is at the center of everything we do, and that we really work with our clients as one firm,” he says. “We're a divisional firm, we've always been a divisional[...]

Adapting to a warmer world could drive one of the largest infrastructure build-outs in history, according to a new report from Goldman Sachs’ Global Markets Institute, titled Taking the heat: making cities resilient to climate change. The report acknowledges the importance of reducing carbon emissions but focuses on the need to adapt to ongoing changes[...]

What’s it like to be a Goldman Sachs intern? In this episode, two interns from this past summer talk about their experiences at GS, as well as what they value in an employer—from diversity to work-life balance. Also in the studio was head of Human Capital Management Dane Holmes to discuss how the interns’ perspectives—and[...]

John Waldron is a busy man. He’s almost a year into his role as Goldman Sachs COO and President, and he’s also a father of six. In this episode, Waldron demystifies his day-to-day and explains why he’s even more focused on executing on the title “COO” than “president.” “My role right now really is to[...]

Technology is changing the structure of the financial industry, says Marty Chavez, global co-head of the Goldman Sachs Securities Division. In this episode, he discusses how the industry is reshaping. “If you look inside a financial services firm, you’ll find there has traditionally been a relatively small number of roles that we talk about—so there’d[...]

For this special episode of Exchanges, we’re running our newest podcast, Top of Mind at Goldman Sachs. Hosted by Allison Nathan, a senior strategist in Goldman Sachs Research, Top of Mind examines the macroeconomic issues that are shaping the global economy. In each episode, Allison interviews Goldman Sachs experts—as well as influential policymakers, academics, and[...]

The next 10 years of mobility will bring more change in the way that people and products move than any decade since the invention of the automobile, Goldman Sachs Research’s Heath Terry explains in this episode. Emerging technologies and business models like ride-hailing and sharing, autonomous driving and delivery, micro-mobility and even eVTOL (flying cars,[...]

In this episode, Jennifer Davis, head of retail investment banking for Goldman Sachs, explains how retailers are expanding their growth strategies against a backdrop of continued e-commerce growth and shifting demographics. While Davis acknowledges that growth strategies are “very specific to a retailer or brand,” she outlines three key areas of focus for her clients:[...]

Although financial markets tend to be explained largely in quantitative terms, human behavior still plays a major role in driving price action, says Sheba Jafari, head of technical analysis for Goldman Sachs’ Securities Division. Jafari, who looks at historical patterns to predict movements in markets, explains: “In my opinion, the mere fact that we have[...]

While systematic investing has origins in academia dating back to the 1950s, only in the past several years has it evolved into practical applications for portfolio construction. In this episode, Heather Shemilt and Tom Leake of the Goldman Sachs Securities Division explain how ARP strategies work and the diversification and customization benefits they offer investors.[...]

When Kathy Matsui first published research on "Womenomics," exploring the economic outcomes of women in the workforce, Japan had one of the lowest female participation rates in the developed world. Now, 20 years later, Japan's female participation rate is 71%, which tops the US and Europe. In this episode, Kathy Matsui joins us in the[...]

The 2017 tax overhaul created incentives for investing in certain low-income communities across America, or "opportunity zones" as they're called. In this episode, Margaret Anadu, head of Goldman Sachs Urban Investment Group, explains the opportunity zone investing landscape and the role of private capital in revitalizing struggling communities. "There's no way we're going to change[...]

In this episode, Steve Strongin of Goldman Sachs Research discusses a new report from Goldman Sachs' Global Markets Institute, titled "What the Market Pays For." One of the main findings is that equity investors tend to pay for persistence or what is sometimes called "visibility." Strongin also discusses why large corporations often feel that they[...]

The findings of Goldman Sachs Asset Management's (GSAM) annual insurance survey are in, and insurance companies generally believe that US markets are in late stages of the economic cycle. Of the companies surveyed, 84% indicated that the US will see a recession within the next two years, but only 2% think that the recession will[...]

In the wake of the financial crisis, the low interest rate environment gave consumers little incentive to put their money into savings accounts. That's changing in the UK, says Goldman Sachs' Des McDaid, with savings rates "back on the agenda." In this episode, McDaid, who oversaw the launch of Marcus by Goldman Sachs in the[...]

When banks reigned in their lending activities after the global financial crisis, there was a gap in the market as small-to-medium sized businesses had nowhere to go to raise capital that they needed to grow. In this episode, Greg Olafson and Nishi Somaiya of Goldman Sachs' Securities Division discuss how alternative asset managers have filled[...]

Emerging market economies are showing early signs of stabilization, according to Kevin Daly of Goldman Sachs Research, and a number of the factors that contributed to the weakness of EM economies last year have now been reversed. "There has already been the beginnings of a recovery from the lows pasted in September-October last year," he[...]

Technology is changing the physical layout of cities, says Jim Garman, who runs real estate investing for Goldman Sachs' Merchant Banking Division in Europe. For instance, while e-commerce is driving down demand for brick-and-mortar storefronts, it's accelerating demand for warehouses and other logistical assets. "Logistics has become a very in-favor asset class for investors," Garman[...]

Integrating ESG - environmental and social governance - into asset managers' portfolios is becoming a "business imperative," says Richard Manley, head of Environmental Social Governance Research in Goldman Sachs Research. In this episode, Manley explains the business case for ESG, why Europe is leading other regions and what households can do to lower their carbon[...]

From our office in London, this episode is all about Europe's investing environment, including how investors are preparing for possible Brexit scenarios, drivers of the region's economic slowdown and where clients are finding alpha. "The number one issue that clients in Europe are facing is how do we get returns," says Andrew Wilson, CEO of[...]

A Goldman Sachs Research study of the last 100 years suggests US recessions can be boiled down to five major causes - and several (like industrial and oil supply shocks) look structurally less threatening today. But among those that still bear close watching are the financial balances of households and corporations, which GS Research's Chief[...]

In France, Goldman Sachs Investment Banking clients are focused on key three risk factors, according to Goldman Sachs' Pierre Hudry: geopolitical outlook, market stability and rising shareholder activism. Amid the uncertainty, however, French management teams remain focused on scaling businesses to compete on the global stage. "Achieving scale and being able to compete notably with[...]

This episode is all about Europe's technology sector, from the pace of tech disruption and the growth of AI, to how companies are innovating in the face of political and regulatory constraints and more. Jo Hannaford of Goldman Sachs' Technology Division, points to Europe's geography as a key driver for development and innovation in technology[...]

The bumpy deceleration underway in China will be met with additional economic policy easing, albeit with some notable differences to previous stimulus, says Goldman Sachs Research's Andrew Tilton. He expects a slightly smaller and later stimulus relative to other slowdowns, leveraging not only Chinese policymakers' typical favored tools like infrastructure spending but also a tax[...]

Last year, venture capital investment in China surpassed North American totals for the first time in history, bringing Chinese business models to a stage and scale that "the entire world needs to pay attention to" in the eyes of Goldman Sachs Research's Piyush Mubayi. Corporate venture capital plays a major role: the country's big tech[...]

Making a comeback alongside higher spot prices this year will be the rapid growth in US shale, says Jeff Currie, with new pipeline capacity unlocking supply from the Permian Basin and re-anchoring the market around a fast-cycle, lower-cost New Oil Order. This podcast was recorded on January 10, 2019. All price references and market forecasts[...]

"Startups right now are all using technology in different ways to drive growth, to drive expansion internationally...to continue to innovate their products..." says Kim Posnett of Goldman Sachs Investment Banking, who expects a strong IPO and M&A market for tech companies in 2019 given the pervasiveness of technological applications and access to capital. In this[...]

"[As a founder] there is no stopping. The commitment is bottomless in a way that I've never had before...and so it requires a level of emotional resilience and balance that is not the easiest thing to do," says Josh Hoffman, co-founder and CEO of biotech startup Zymergen in the latest episode of the firm's podcast,[...]

In our first ever podcast taped in Hong Kong, we're exploring one of the highest growth sectors in China: healthcare. Stephanie Hui, head of Goldman Sachs' Merchant Banking Division in Asia-Pacific, ex-Japan, joins us in the studio to discuss the drivers behind healthcare's explosive growth in China and how investors are viewing the industry's risk[...]

In this episode, we sit down with Amanda Hindlian and Sandra Lawson, two of the authors of a Goldman Sachs Global Markets Institute report called "Closing the gender gaps: Advancing women in corporate America." The report aims to contribute to the ongoing dialogue surrounding gender equality by analyzing some of the drivers of the gender[...]

This episode is all about the London Interbank Offered Rate, or LIBOR as it's commonly called. Beth Hammack, Goldman Sachs' global treasurer, and Jason Granet, head of the firm's LIBOR transition efforts, discuss what LIBOR is, what went wrong with the interest rate and now why and how the financial industry is moving to an[...]

Poland is sometimes overshadowed by its European neighbors, but it's an important player within the region, according to Goldman Sachs' Artur Tomala and Brent Watson. In this episode, Tomala and Watson describe Poland's economic, business and political environment and why robust job opportunities are leading many Poland emigrates to return home. "We're starting to see[...]

Europe's energy sector is undergoing a transformation toward sustainable energy sources, says Goldman Sachs Research's Alberto Gandolfi. In this episode, Gandolfi discusses why clean energy has started to undercut the cost of conventional generation. "In several regions of Europe right now, renewables are way, way cheaper than any other technology. So we think they're going[...]

International Goldman Sachs Asset Management CEO Sheila Patel joins us in the studio to discuss key trends facing investors, from where opportunities remain in emerging markets assets to the growth of ESG investing to sovereign wealth funds' shift towards transparency. "Across the board [with both legacy and new sovereign wealth funds] what you've seen go[...]

Europe's business environment is in focus as companies simplify their corporate structure, global trade tensions continue and the tech industry faces increased scrutiny. Marc Nachmann, co-head of the Goldman Sachs Investment Banking Division, joins us to talk through how these factors and more are shaping business decisions and M&A in Europe. "CEO confidence remains quite[...]

"The scale of deals we're seeing [in Asia] is something we've never seen before," says Alison Mass of the Goldman Sachs Investment Banking Division. While Mass has been traveling to Asia for more than twenty years to meet with private equity clients, her most recent business trip with colleague Brian DeCenzo felt different in terms[...]

Looking at investor returns, European equities are trailing U.S. peers while beating emerging-market stocks in 2018. As part of our closer look at emerging economic and market themes in Europe, Sharon Bell of Goldman Sachs Research discusses the factors that explain this performance, zeroing in on U.K., German and French stocks. Bell breaks down investors'[...]

Is there a bubble in technology? Goldman Sachs Research's Peter Oppenheimer doesn't think so. Despite the recent stumbles in some of tech's biggest names, the sector continues to dominate global stock indexes. "The thing that's really set apart [today's] technology revolution as we're seeing it expressed in the stock market since the financial crisis is[...]

Germany is in focus in Europe and around the globe as its historically strong economy undergoes a transformation adapting to the digital age. As part of our closer look at emerging economic and market themes in Europe, we sat down with Wolfgang Fink, chief executive officer of Goldman Sachs Germany and Austria, to talk about[...]

From the financial problems facing Americans to how psychology explains people's saving and spending habits, this episode is all about money. Entrepreneur Adam Dell, founder of Clarity Money, a personal finance app that was acquired by Marcus by Goldman Sachs in April 2018, joins us to talk about all this and more, including how he[...]

Rising trade tensions with the United States should not obscure the importance of China's progress in transforming its economy and opening its markets, according to Goldman Sachs Research's Tim Moe. On the latest episode of our podcast, Exchanges at Goldman Sachs, he says the size of the Chinese economy and its diminished reliance on trade[...]

From consumers' growing influence and vertical consolidation to the shift to value-based care and questions around drug pricing policy, there's a lot going on in the healthcare industry. Jo Natauri, global head of healthcare investing in Goldman Sachs' Merchant Banking Division, joins us in the studio to discuss what corporations and investors are focused on.[...]

Fifty years ago, if you asked Americans how they mainly saved for retirement, chances are they'd answer: "my pension." That's no longer the case. After surging in the post-World War II years, corporate pensions have been on the decline in the US over the past couple decades, largely driven by a stricter regulatory environment and[...]

From subscription services with generous discounts on concessions to comfier theaters, the film industry is moving aggressively to get more people off their sofas and to the box office, says Drew Borst of Goldman Sachs Research, so far with mixed results. Some efforts (think: reclining seats) are likely to prove more successful than others (think:[...]

It's not a matter of if Extended Reality (XR) will touch all aspects of our lives-it's a matter of when, says Heather Bellini of Goldman Sachs Research. By 2025, XR is projected to generate over $100 billion in sales, with the consumer and e-commerce sectors being its biggest beneficiaries. The technology carries broad implications for[...]

eSports - professional video gaming - has over 350 million viewers worldwide. In this episode, Ryan Nolan, global head of digital gaming in Goldman Sachs' Investment Banking Division, and his colleague Moritz Baier, a former eSports world champion, discuss how eSports is going mainstream after facing early skepticism. "I think the entire ecosystem is going[...]

The oil and natural gas investment cycle is entering an "age of restraint," according to a newly-published report from Goldman Sachs Research. In this episode, we sit down with Michele Della Vigna, Commodity Equity business unit leader in EMEA, to understand what this means for the sector. "The period of restraint is a period where[...]

As cryptocurrency volatility continues, Steve Strongin, Charlie Himmelberg and Jeff Currie of Goldman Sachs Research reaffirm their cautious stance on the long-term viability of bitcoin and other first-generation cryptocurrencies. "This should be a battle of the best technology, and instead it seems to be a common wave of enthusiasm," says Strongin, head of GS Research,[...]

The fintech sector has been evolving rapidly as new startups emerge and large financial institutions figure out how to adapt...or else get left behind. To understand where we are in the "three waves of fintech," we spoke with Jeff Gido, global head of the financial technology sector in Goldman Sachs' Investment Banking Division. "We're seeing[...]

Small businesses make up over 99 percent of all U.S. enterprises, and they employ 60 million Americans, nearly half the national workforce. In this episode, we sit down with Steve Strongin and Amanda Hindlian of Goldman Sachs' Global Investment Research Division to discuss the state of small businesses in America. We also hear directly from[...]

What are the markets telling us about expectations for the economy and monetary policy? We sat down with Francesco Garzarelli, co-chief markets economist of the Global Macro Research team, who says recent upticks in volatility reflect a stronger US growth outlook and uncertainty about how the Federal Reserve will respond to it. He discusses why[...]

The popularity of podcasts is surging, as millions of listeners turn to their smartphones each day for audio content ranging from quick news to immersive storytelling. So what makes a great podcast, and how are podcasts changing traditional media and journalism? To answer those questions, we sat down with two of the most popular podcast[...]

The U.S. is in its second-longest equity bull market in the post WWII-era, at nearly nine years. Can financial markets continue on their upward course, or is the recent volatility a sign that bearish conditions are on their way? Sharmin Mossavar-Rahmani, chief investment officer of the Goldman Sachs Investment Strategy Group, discusses her team's 2018[...]

"We are looking at a once-in-a-generation secular change in the way we produce power," says Gonzalo Garcia, co-head of the Global Natural Resources Group in Goldman Sachs' Investment Banking Division and co-head of Latin America for the firm. In addition to discussing the shift to renewable energy and how CEOs are adapting, Garcia also addresses[...]

Now over the hurdle of tax reform, the question becomes which political priorities the Trump Administration will tackle next. Alec Phillips, chief US political economist for Goldman Sachs Research, says the potential for a mid-term election shakeup is likely to delay legislative progress on infrastructure and compromise on immigration, but he does expect movement on[...]

Venture capital has taken on a higher profile in the public imagination in recent years, thanks to the dramatic success of several early bets that have since become household names. Heath Terry, lead internet sector analyst for Goldman Sachs Research, shares where venture firms are focused now and what that means for the future of[...]

The year's most notable elections in Europe produced largely market-friendly results, stability that has helped support the deal-making environment across the continent. Anthony Gutman, co-head of UK Investment Banking at Goldman Sachs and co-head of Investment Banking Services in EMEA, discusses the sectors and geographies where activity has been most robust, why activism is on[...]

Banks in the United States are well-positioned to benefit from corporate tax reform, says Goldman Sachs Research's Richard Ramsden. What's less clear is how they'll continue to fend off challenges from technology companies, which have already made inroads in certain businesses, like payments. Richard shares his outlook for the sector heading into 2018, talking through[...]

Ride-hailing companies are poised for explosive growth over the next decade, according to Stefan Burgstaller, head of European industrials equity research. Their prominence may usher in the era of the 'pay-as-you-go' car, which could have dramatic effects on the entire automotive ecosystem. This podcast was recorded on November 2, 2017. All price references and market[...]

Eric Ryan and Adam Lowry were childhood friends who started a business together. Then it got crazy. They discuss building Method, the innovative homecare company, out of the dirtiest bachelor pad in San Francisco, and why both got the itch to start-up a second time, Eric with Olly Nutrition, and Adam with Ripple Foods. This[...]

From the 2017 Goldman Sachs Builders + Innovators Summit: Shan-Lyn Ma, co-founder and CEO of online wedding destination Zola, and Gregg Renfrew, founder and CEO of skincare and cosmetics brand Beautycounter, are joined by Goldman Sachs co-head of Investment Banking John Waldron to discuss fundraising, recruiting top talent and building brands that last. This podcast[...]

Hugh Lawson, head of Goldman Sachs Asset Management's Institutional Client Strategy and ESG and Impact investing efforts, is joined by Scott Brown, CEO of New Energy Capital, and Elizabeth McGeveran, Director of Impact Investing at the McKnight Foundation, to discuss how socially conscious investing has become mainstream and where it could be headed. This podcast[...]

Eight years into the "most unloved" bull market in history, many investors are asking how much longer the upswing can last. Peter Oppenheimer, chief global equity strategist for Goldman Sachs Research, discusses why identifying the peak may be less important than recognizing a bear market once it starts, and what history can tell us about[...]

Harvey Schwartz, president and co-COO of Goldman Sachs, took a year off after high school, though it wasn't part of any kind of grand plan - he readily admits there wasn't one. But it did introduce him to his first mentor, and the concept of investing in other people's success that has been a defining[...]

Markets are up, volatility is down and clients have questions. David Solomon, president and co-COO of Goldman Sachs, discusses the rise in passive investing, how technology is making the world more competitive and his 35-year career on Wall Street. This podcast was recorded on September 7, 2017. This podcast should not be copied, distributed, published[...]

After a distinguished career in politics that included roles as prime minister of Portugal and president of the European Commission, José Manuel Barroso was named chair of Goldman Sachs International in 2016. He discusses the future of European integration amidst populist movements across the region, the challenges and opportunities in global trade and his role[...]

Paul Russo, co-COO of the Equities Franchise in the Goldman Sachs Securities Division, explains how technological change and regulatory reform helped develop a growing class of institutional investor - systematic traders - and what a rising interest rate environment could mean for the equity markets. This podcast was recorded on August 30, 2017. This podcast[...]

Jörg Kukies, co-CEO of Goldman Sachs in Germany and Austria, discusses Germany's unique role within Europe and on the global stage during a period of significant political and economic developments in Europe and globally. This podcast was recorded on September 13, 2017. This podcast should not be copied, distributed, published or reproduced, in whole or[...]

For all the pain that e-commerce has inflicted on retailers, the brick-and-mortar store is far from dead, according to Goldman Sachs Research's lead retail analyst Matt Fassler. Instead, he says, survivors of the latest round of retail disruption will succeed in part by narrowing their sights, focusing either on efficiently distributing goods or improving the[...]

With energy demand expected to double in Asia by 2030, and with a billion people currently without electricity, Ankur Sahu, co-head of Goldman Sachs' Merchant Bank in Asia-Pacific, says that renewables fill a crucial gap in the marketplace. Investors have been faced with ample opportunity, he says, so much so that an industry previously thought[...]

Health care is projected to make up nearly forty percent of the US federal budget by 2025. In an effort to slow down cost increases, some in the industry have begun to explore value-based contracts, potentially transforming the industry's economics. Jami Rubin and Robert P. Jones of Goldman Sachs Research discuss how placing an emphasis[...]

Digitization ravaged the music business, but nearly 20 years after the launch of Napster, the industry has returned to growth on the back of a "second digital revolution," according to Lisa Yang of Goldman Sachs Research. Streaming services are leading the way, growing the revenue pie for artists and labels both and creating new opportunities[...]

The retail sector is at the epicenter of technological disruption and changing consumer behavior. But according to Goldman Sachs' Kathy Elsesser, global chair of the Healthcare Group and the Consumer and Retail Group in Investment Banking, and Kim Posnett, global head of Internet Investment Banking, these shifts are more evolution than revolution. An omnichannel approach,[...]

Long dominated by government agencies, space is now in play for private companies and venture capitalists, who see big potential in areas like launch, communications and exploration. Noah Poponak, senior Aerospace and Defense equity research analyst for Goldman Sachs Research, says this investment interest has helped reduce launch costs and spur innovation across related industries,[...]

Environmental, social and governance metrics have matured to the point where they can help mainstream investors beat their benchmarks, says Goldman Sachs Research's Derek Bingham. As a member of the GS SUSTAIN team, which seeks to identify companies with long-term growth potential, Bingham and his colleagues study which sustainability measures most closely align with returns[...]

The two-year negotiation process of Brexit has officially commenced amidst Europe's year of elections, meaning the broader sense of uncertainty that has underpinned much of the region's business operations will continue for the foreseeable future. Richard Gnodde, vice chairman of Goldman Sachs and chief executive officer of Goldman Sachs International, discusses how companies - Goldman[...]

Tim Moe, chief Asia Pacific equity strategist for Goldman Sachs Research, says recent economic data indicate global growth has perhaps reached "peak momentum." While that could mean more modest returns for equity investors going forward, there is still value to be found in Asia, he argues, most notably in China. This podcast was recorded on[...]

The manufacturing sector has long offered a window into the changing nature of work and the evolution of technology. Clare Scherrer, global co-head of the Industrials Group in Goldman Sachs' Investment Banking Division, discusses how industrial businesses are managing technology and workforce investments amidst economic and political change. This podcast was recorded on February 27,[...]

President Trump's policy agenda is a source of intense interest for investors and clients around the world. Michael Paese, co-head of the Office of Government Affairs at Goldman Sachs, and Alec Phillips, US political economist in Goldman Sachs Research, discuss how the president's agenda has evolved as he's transitioned from the campaign trail to the[...]

Sheila Patel, chief executive officer of Goldman Sachs Asset Management International, shares how her discussions with clients in Asia have changed since the election of Donald Trump, with a focus on trade, risk and the evolution of active and passive strategies in an age of technological disruption. This podcast was recorded on February 10, 2017.[...]

The United States appears poised to revisit its trading stance with China - and Asia more broadly - after the inauguration of President Donald Trump. Andrew Tilton, chief Asia economist of Goldman Sachs Research, considers the Asian economies most at-risk of disruption and the evolving roles of both China and the US in the region.[...]

US equities have returned nearly 300% since the trough of the global financial crisis, and now sit at historically high valuations. Sharmin Mossavar-Rahmani, chief investment officer of Private Wealth Management at Goldman Sachs, says that high valuations alone are not enough to warrant underweighting equities. What's important is context: she explains her optimism towards the[...]

Each new generation comes of age with different experiences and preferences than their parents. Goldman Sachs Research's Hugo Scott-Gall, Lindsay Drucker Mann and Christopher Wolf discuss how the differing habits of three generations that make up the bulk of US consumption today -- Gen X, Millennials and Gen Z - are changing how Americans spend[...]

Artificial intelligence - the science of teaching computers to think like humans - could reshape the global economy by making both capital investments and labor costs more efficient. That would provide a meaningful boost to productivity growth, which has stagnated since the internet boom of the 1990s. Heath Terry of Goldman Sachs Research discusses the[...]

Gary Cohn reflects on his journey from a difficult childhood struggle with dyslexia to serving as president and chief operating officer of Goldman Sachs. As he departs the firm after 26 years, Cohn shares some of the experiences that have shaped him, and reflects on the value of diversity, the importance of perseverance and learning[...]

Investors have flocked to financials since Donald Trump's election in expectation of a steepening yield curve and regulatory reform boosting bank bottom lines. Richard Ramsden, business unit leader of the Financials Group in Goldman Sachs Research, explains how tightening monetary policy, higher inflation and a potential infrastructure spend could be even more important for the[...]

As President-elect Donald Trump makes the transition from the campaign trail to the White House, investors will be watching carefully to determine the economic issues at the top of his agenda. Alec Phillips, Goldman Sachs Research's political economist in Washington, discusses where Trump can act on his own without Congress, why corporate tax changes are[...]

As the UK moves closer to triggering formal talks on its exit from the European Union, investors are focused on the terms of the new relationship it will strike with Brussels. Goldman Sachs' Chief European Economist Huw Pill discusses the spectrum of issues to be resolved in the negotiations and what the ultimate outcome between[...]

Tyler Haney, founder and CEO of activewear brand Outdoor Voices, and Tata Harper, founder and co-CEO of Tata Harper Skincare, are joined by Goldman Sachs' David Solomon to discuss entrepreneurship and the global health and wellness movement. This podcast was recorded on October 20, 2016. The information contained in this recording was obtained from publicly[...]

Purpose-driven loans - for housing, education and automobiles - comprise most of the consumer credit market, with credit cards making up most of the rest. But the industry is undergoing a profound shift, as new entrants leverage responsive technologies to offer better experiences for consumers. Harit Talwar, head of Digital Finance at Goldman Sachs, discusses[...]

Quantitative easing by the world's major central banks has helped deflate bond yields and pushed valuations across asset classes to historic levels. Peter Oppenheimer, chief global equity strategist and head of Macro Research in Europe for Goldman Sachs Research, discusses how the long-term case for investing in stocks has evolved and why he sees the[...]

Technology's rapid progress and expanding scope are having a significant impact on the nature of work. Steve Strongin, head of Goldman Sachs Research, and Sandra Lawson, director of the Global Markets Institute, explain why preparing for the jobs of the future is about more than STEM. This podcast was recorded on September 7, 2016. All[...]

Technology companies are entering areas traditionally dominated by the media and telecom industries, forcing legacy players to adapt. Michael Ronen and Dave Dase of the Investment Banking Division discuss the emerging partnerships, developing rivalries and most promising opportunities in the new media landscape. This episode was recorded on August 8, 2016. The information contained in[...]

Until recently, low carbon technologies like wind and solar were a niche part of the global energy landscape. But Goldman Sachs Research's GS SUSTAIN team, which focuses on identifying long-term industry leaders, says that low carbon technologies like onshore wind, solar PV, LEDs and hybrid/electric vehicles are now "taking off the training wheels" and rapidly[...]

Heath Terry and Matt Fassler of Goldman Sachs Research discuss the explosive growth of e-commerce and how brick-and-mortar retailers are contending with changing consumer habits, generational shifts and technological disruption. This podcast was recorded on June 30, 2016. All price references and market forecasts correspond to the date of this recording. This podcast should not[...]

Jami Rubin, business unit leader of the Healthcare Research Group for Goldman Sachs Research, discusses top trends in healthcare, including progress in the fight against cancer, diabetes and Alzheimer's, cutting-edge science in gene therapy and gene editing, and how the drug industry is dealing with debates over pricing and mergers. This podcast was recorded on[...]

The UK's vote to leave the EU sets in motion a series of complex adjustments for the UK and Europe that will take years to play out. Huw Pill, chief European economist in Goldman Sachs Research, discusses the economic and market implications of the Brexit vote. This podcast was recorded on June 27, 2016. All[...]

Armen Avanessians, chief investment officer of Goldman Sachs Asset Management's Quantitative Investment Strategies team, discusses how big data can help investors make smarter, better informed decisions. This episode was recorded on April 26, 2016. The views and opinions expressed herein should not be construed as an offer to buy or sell any securities and such[...]

A better external backdrop is just part of the reason why emerging market assets have surprised in the first half of 2016. Kamakshya Trivedi, chief Emerging Markets macro strategist in Goldman Sachs Research, considers the local and global factors influencing asset prices in developing economies around the world, including China, Brazil and India. This podcast[...]

Export-heavy Germany is contending with a wave of disruptive changes that are altering the competitive landscape for both the country's largest corporations and its globally admired small and medium-sized enterprises, the Mittelstand. Wolfgang Fink, co-CEO of Goldman Sachs in Germany and Austria, discusses how German companies are adapting to twenty-first century market pressures. This podcast[...]

Kathy Elsesser, global co-head of the Consumer Retail and Healthcare Group in the Investment Banking Division at Goldman Sachs discusses how the slowdown in deal-making in the first quarter of 2016 has affected the consumer retail space, why the sector is so attractive to activist investors and whether the rise of e-commerce means the end[...]

What does it mean to be an environmental, social and governance (ESG) investor? For John Goldstein, co-founder of Imprint Capital and a managing director in Goldman Sachs Asset Management, investing for ESG requires the same rigor and discipline as "traditional" investing, and the distinction between the two is growing increasingly irrelevant. With better tools to[...]

Hugo Scott-Gall recaps the technologies and topics discussed at the second-annual Goldman Sachs Research Innovation Symposium, including the evolving markets for drones, the surprising demographics of the sharing economy and the opportunity at the intersection of digital services and traditional healthcare. This episode was recorded on March 18, 2016. This podcast should not be copied,[...]

Heather Bellini, head of the Technology Research Group in Goldman Sachs Research, discusses the multi-billion dollar industry forming around virtual and augmented reality, and the $300 billion in enterprise IT spend at stake as companies pursue cloud strategies. This podcast was recorded on March 1, 2016. All price references and market forecasts correspond to the[...]

Peter Oppenheimer, Goldman Sachs Research's chief equity strategist and head of European Macro Research, weighs in on the recent rally in equity markets, the "third wave" of the financial crisis, the likelihood of a global recession, and more. This podcast was recorded on March 9, 2016. All price references and market forecasts correspond to the[...]

Jan Hatzius, Goldman Sachs' chief economist, and Jeff Currie, global head of Commodities Research, explain why volatility in the oil, equity and credit markets could be sending false signals about the underlying strength of the broader economy. This podcast was recorded on February 23, 2016. All price references and market forecasts correspond to the date[...]

Gary Cohn, president and chief operating officer of Goldman Sachs, shares his perspective on the state of global markets -- including China's economic slowdown, volatile oil prices and the evolution of Silicon Valley. This podcast was recorded on February 3, 2016. This podcast should not be copied, distributed, published or reproduced, in whole or in[...]

Don Duet, co-head of the Technology Division at Goldman Sachs, discusses the technological transformation of the financial services industry, and how advances in open source, big data, blockchain and other areas are driving further innovation. This podcast was recorded on January 12, 2016. This podcast should not be copied, distributed, published or reproduced, in whole[...]

US banks are at an inflection point after the Federal Reserve's decision to raise its benchmark interest rate for the first time in nearly a decade. Goldman Sachs Research's Richard Ramsden discusses front-burner issues for the industry in the year ahead, including the pace of future hikes, the rise of new entrants and the growing[...]

Kyung-Ah Park, head of Environmental Markets at Goldman Sachs, represented the firm at the UN Climate Change Conference in Paris. She discusses the historic climate agreement adopted by 196 parties and ways the business community can help facilitate the transition to a low carbon economy. This podcast was recorded on December 15, 2015. This podcast[...]

Colin Coleman, head of the Investment Banking Division for Goldman Sachs in Sub-Saharan Africa, discusses South Africa's resilience amidst a challenging environment for emerging markets and steps it can take to boost productivity and broaden economic opportunity. This podcast was recorded on November 2, 2015. The information contained in this recording was obtained from publicly[...]

In the second and third quarters of 2015, pay-TV services lost nearly one million subscribers to online streaming options. Brett Feldman and Drew Borst, equity research analysts in Global Investment Research at Goldman Sachs, share how the media and telecom industries are responding and why this is a golden era for consumer choice. This podcast[...]

"There's never been a better time to start a business," says Philip Krim, co-founder and CEO of Casper. He joined Mariam Naficy, founder and CEO of Minted, and David Solomon, co-head of the Investment Banking Division at Goldman Sachs, to discuss what's most important for successful companies and the one class business school graduates wish[...]

Timothy Moe, co-head of Macro Research in Asia for Goldman Sachs, explains why China's markets could be poised for a rebound and what China's transition to a consumer-driven economy means for markets across Asia. This podcast was recorded on October 14, 2015. All price references and market forecasts correspond to the date of this recording.[...]

Stefan Burgstaller, head of European Automotive Equity Research at Goldman Sachs, discusses the innovations that could define the car of the future, including widespread Internet connectivity, the adoption of ultra-lightweight materials and the development of autonomous driving technology. This podcast was recorded on July 21, 2015. This podcast should not be copied, distributed, published or[...]

David Kostin, chief US equity strategist at Goldman Sachs, discusses why he sees a flatter trajectory for US stocks after an ''extraordinary run," and why the decline in energy prices will have important implications for corporate profits and capital spending in 2016. This podcast was recorded on October 5, 2015. All price references and market[...]

Tim O'Neill, global co-head of the Investment Management Division at Goldman Sachs, on the seduction of big data, why a market needs both active and passive investors, and the greatest challenge for investors of every generation. This episode was recorded on September 15, 2015. The views and opinions expressed herein should not be construed as[...]

Jeff Currie, global head of Commodities Research at Goldman Sachs, explains why prolonged oversupply and steady production out of the US and OPEC will continue to hold down oil prices, and the feedback loop driving down commodity prices around the world. This podcast was recorded on September 11, 2015. All price references and market forecasts[...]

Dina Powell, head of Goldman Sachs' Impact Investing business and president of the Goldman Sachs Foundation, discusses how investing in the New Orleans small business community has helped to revitalize the city. She is joined by two graduates of the Goldman Sachs 10,000 Small Businesses program: Kristen Preau Moore, CEO and owner of Cook Me[...]

Steve Strongin, head of the Global Investment Research (GIR) Division, and Charlie Himmelberg, GIR's co-head of Global Markets Research and global head of Credit and Mortgage Strategy Research, discuss the importance of liquidity in the market, the vulnerabilities of less-liquid markets and proposals to restore liquidity without undermining market safety. This episode was recorded on[...]

Heath Terry and Ryan Nash, analysts in Global Investment Research at Goldman Sachs, explore how the twin forces of regulation and technology are opening the door for a new and expanding class of competitors aiming to shake up financial services. This episode was recorded on June 3, 2015. This podcast should not be copied, distributed,[...]

Kathryn Koch, head of Fundamental Equity Client Portfolio Management within Goldman Sachs Asset Management, discusses key trends impacting equity markets globally, including the ongoing Greek debt negotiations, stock volatility in China, and the boom in M&A activity. This episode was recorded on July 6, 2015. The views and opinions expressed herein should not be construed[...]

Gary Cohn, president and chief operating officer of Goldman Sachs, discusses key issues impacting the global economic landscape, including the anticipated rise in interest rates, market liquidity and the relationship between clearing houses and systemic stability. This podcast was recorded on June 17, 2015. This podcast should not be copied, distributed, published or reproduced, in[...]

R. Martin Chavez, chief information officer of Goldman Sachs, discusses some of the game-changing trends in technology today -- including the shift to cloud, open source for enterprise, and big data -- and how financial institutions are embracing these innovations to provide a better experience for clients. This episode was recorded on April 1, 2015.[...]

Lloyd Blankfein, chairman and CEO of Goldman Sachs, discusses a range of global economic issues -- including the United States' evolving policies on trade, energy and infrastructure, opportunities and challenges facing China's economy, and the impact of technology on the financial services industry -- along with lessons from his own career. This episode was recorded[...]

Hugo Scott-Gall, head of Thematic Research at Goldman Sachs, discusses the disruptive innovations that dominated discussion at the Goldman Sachs Innovation Symposium. This podcast was recorded on March 18, 2015. This podcast should not be copied, distributed, published or reproduced, in whole or in part. The information contained in this podcast does not constitute research[...]

Kevin Daly, senior European economist in Global Investment Research at Goldman Sachs, discusses factors influencing the growth outlook in the UK, including housing, wages and energy prices. This podcast was recorded on March 30, 2015. This podcast should not be copied, distributed, published or reproduced, in whole or in part. The information contained in this[...]

Margaret Anadu, a managing director in the Urban Investment Group at Goldman Sachs, discusses impact investing and the firm's efforts to help rebuild communities in Newark and New York City. This podcast was recorded on April 1, 2015. This podcast should not be copied, distributed, published or reproduced, in whole or in part. The information[...]

George Lee, chief information officer for the Investment Banking Division at Goldman Sachs, discusses the disruptive potential of artificial intelligence. This podcast was recorded on March 4, 2015. The information contained in this recording was obtained from publicly available sources and has not been independently verified by Goldman Sachs. Neither Goldman Sachs nor any of[...]

Michael Sherwood, a vice chairman of Goldman Sachs and co-CEO of Goldman Sachs International, discusses the economic potential of Growth Markets around the world, including India and China. This podcast was recorded on March 4, 2015. This podcast should not be copied, distributed, published or reproduced, in whole or in part. The information contained in[...]

Mark Schwartz, a vice chairman of Goldman Sachs and chairman of Goldman Sachs Asia Pacific, discusses China's reform efforts, future growth and prospects for an enhanced investment relationship with the United States. This podcast was recorded on February 13, 2015. This podcast should not be copied, distributed, published or reproduced, in whole or in part.[...]

Sheila Patel, chief executive officer of International Goldman Sachs Asset Management, discusses what makes 2015 a "year of change" for investors. This episode was recorded on February 4, 2015. The views and opinions expressed herein should not be construed as an offer to buy or sell any securities and such views/opinions may differ from those[...]

Jeff Currie, global head of Commodities Research at Goldman Sachs, discusses the surge in US oil production, the changing role of OPEC and how lower oil prices are impacting the global economy. This podcast was recorded on December 15, 2014 This podcast should not be copied, distributed, published or reproduced, in whole or in part.[...]

Jonathan Beinner, chief investment officer of Global Fixed Income at Goldman Sachs Asset Management (GSAM), discusses trends for investors to watch in 2015. This podcast was recorded on December 15, 2014 The views and opinions expressed herein should not be construed as an offer to buy or sell any securities and such views/opinions may differ[...]

Jami Rubin, head of US healthcare research at Goldman Sachs, discusses how immuno-oncology is transforming the treatment of cancer. This podcast was recorded on November 25, 2014 This podcast should not be copied, distributed, published or reproduced, in whole or in part. The information contained in this podcast does not constitute research or a recommendation[...]