Latest Interviews
Showing 1–12 of 12 transcripts.
Clear all filters- Goldman Sachs16 min
Energy Disruptions Are Here to Stay
Amid escalating geopolitical tensions in the Middle East and Russia, the oil market has stabilized around $80–$85 for Q3 as investors focus on fundamental product deficits rather than headline volatility. While crude supply shocks have been partially mitigated by Russian export growth and strategic stockpiles, severe tightness in diesel and heating oil inventories threatens to sustain elevated prices through winter. Market analysts project a potential price dip to the $70s in Q4 if diplomatic progress occurs, though a significant supply response is unlikely before 2027 due to the long timeline required to rebuild global inventories.
- Goldman Sachs19 min
Innovation and Inflation: Twin Forces Reshaping Portfolios
Christian Mueller-Glissmann, Alexandra Wilson-Elizondo, Alison Nathan
Recorded on May 7, 2026, this market analysis addresses the 2026 stagflationary dynamic where traditional 60/40 portfolios fail to buffer against rising rates while the S&P 500 rallies on heavy technology concentration. Experts identify tactical opportunities in infrastructure and commodity carry strategies to mitigate momentum risks, though they warn that a potential labor market feedback loop or 30-year yield breakout could impose severe constraints on equity valuations. The discussion concludes by evaluating the low-probability risk of an AI positioning unwind alongside structural shifts in private credit leverage.
- Goldman Sachs12 min
“A Massive Broadening Trade”
Rich Privorotsky, Chris Hussey
Global markets are pivoting from a narrative of fading geopolitical risk to one dominated by Japanese bond volatility and a surging "real asset" rally driven by central bank diversification and inflation expectations. While U.S. mega-cap tech faces valuation compression due to AI investment concerns, capital is rotating aggressively into emerging markets and cyclical sectors like Greek banks to capitalize on a broader pro-growth strategy. As investors await critical tech earnings and Federal Reserve leadership nominations, the primary market risk remains a potential shift from rate cut expectations to aggressive hikes should U.S. labor data stabilize.
- Goldman Sachs7 min
Still Bullish on Big Tech
Peter Callahan, Mike Washington
In the second quarter, major technology companies surpassed market expectations by accelerating growth in e-commerce, cloud, and digital advertising, driven primarily by widespread artificial intelligence adoption. This momentum has coincided with rising capital expenditures on AI infrastructure, while analysts project a multi-year expansion cycle that remains resilient despite macroeconomic uncertainties regarding interest rates and tariffs. Although the current market rally is heavily concentrated in large-cap stocks, investors anticipate a potential catch-up trade in smaller-cap tech firms later in the year as inflation data and the Jackson Hole symposium provide new catalysts.
- Goldman Sachs19 min
Equity risks and alts opportunities
David Kostin, Padi Raphael, Allison Nathan
The Professional Investor Forum gathered advisors managing $1.3 trillion to analyze a U.S. market recovering to pre-tariff levels despite a 50% recession probability, as first-quarter earnings beat expectations by 12% before new April policy shifts. Goldman Sachs forecasts a recession-free 2025 baseline, though participants anticipate earnings compression in the second quarter if tariffs are implemented. Consequently, investment strategies are pivoting toward private market allocations and equal-weighted indices to mitigate concentrated stock risk while managing capital flows repatriated from Europe and steady inflows from Asia.
- Goldman Sachs19 min
Why China’s economy is struggling
Goldman Sachs has lowered its 2024 China GDP growth forecast to 4.7% below the official 5% target, citing persistent oversupply in the property sector and weak consumer demand. While the government retains fiscal capacity to expand central debt to 110–120% of GDP, current strategy focuses on stabilizing homeowners rather than rescuing developers due to fears of asset bubbles. The report warns that a potential 60% U.S. tariff could further suppress growth by 2 percentage points, likely forcing a shift to aggressive stimulus if domestic resilience fails.
- Goldman Sachs12 min
Behind the Numbers: Goldman Sachs’ CFO on Second Quarter Earnings Results
Goldman Sachs reported a robust second quarter driven by record investment banking backlog levels, $1 billion in equity underwriting revenues, and a 18% return on equity in global markets. The firm is accelerating a strategic transition toward a fund-format model while prioritizing capital returns through doubled dividends and variable share repurchases to support stock value. Despite facing macroeconomic, geopolitical, and cybersecurity risks, management remains confident in the outlook, noting a significant return to physical office collaboration and strong sponsor-led M&A activity.
- Goldman Sachs15 min
Oscar Munoz, Executive Chairman of United Airlines
United Airlines Executive Chairman Oscar Munoz leveraged his background in crisis management and direct government lobbying to secure CARES Act funding and implement rapid liquidity measures that enabled the carrier to navigate the pandemic's immediate threats. Under Munoz's leadership, the airline shifted from reactive survival to proactive customer-centric innovation by eliminating change fees and advocating for global rapid testing protocols to facilitate safe international travel. With a strategic focus on passenger safety and profitability, United projects a phased return to full operations by 2022, contingent on vaccine deployment and the successful integration of hybrid digital and physical customer service models.
- Goldman Sachs7 min
Goldman Sachs’ Third-Quarter Earnings
Goldman Sachs CFO Steven Schwartz attributed strong third-quarter earnings to the firm's intermediary model and strategic initiatives that successfully expanded market share across Global Markets and Investment Banking. Leadership recently realigned division heads with defined business segments to ensure cohesive operations while deploying calibrated capital to navigate anticipated fourth-quarter volatility driven by geopolitical and economic uncertainties. Looking toward 2021, the firm aims to execute a dual strategy of reinforcing incumbent businesses and scaling new value-add initiatives like transaction banking without the operational distractions that previously defined the sector.
- Goldman Sachs18 min
Innovation - Goldman Sachs 2020 Investor Day
Marco Argenti, Stephanie Cohen, David
Marco Argenti, former co-CIO of Goldman Sachs, leads a technology transformation designed to evolve the firm into a "vertical cloud" provider by prioritizing modular APIs and externalizing services like Marquee and Apple Card. Chief Strategy Officer Stephanie Cohen reinforces this strategy by shifting engineering focus toward differentiated capabilities, resulting in a dynamic framework that combines buying, building, partnering, and investing to capture a $60 billion retail deposit base and expand quantitative trading volumes through external broker-dealers. This approach leverages Goldman Sachs' heritage in equity markets and deep pre-IPO relationships to create a self-reinforcing platform that enables developers to embed financial services directly into client workflows while generating durable, fee-based revenue.
- Goldman Sachs16 min
Goldman Sachs at 150: Part 9 – Crisis (2008)
In June 2006, Lloyd Blankfein succeeded Hank Paulson as CEO of Goldman Sachs, guiding the firm through the unfolding U.S. housing bubble and the subsequent 2008 financial crisis. While the collapse triggered a cascade of market failures and froze global credit, Goldman Sachs mitigated significant financial losses despite admitting they spent the period "scrambling" to manage emerging risks. Following the turmoil, the bank faced intense reputational backlash for its resilience and government bailouts, prompting leadership to establish a Business Standards Committee, enhance transparency regarding derivatives, and commit to a more robust public dialogue about their societal influence.
- Goldman Sachs6 min
10,000 Small Businesses: Miami Graduation Highlights
Sandra Williams, Leticia Pollock, Lloyd Blankfein
The Miami Dade College chapter of the Goldman Sachs 10,000 Small Business program has graduated over 70 entrepreneurs who collectively generate $55 million in annual revenue and employ more than 1,000 people. Success stories from alumni like QQ Research Consultants and Panther Coffee illustrate how participants achieve aggressive growth targets and expansion plans while maintaining full-time operations through rigorous night and weekend study. Chairman Lloyd Blankfein highlights the initiative's role in revitalizing struggling communities by empowering owners to realize their life dreams rather than focusing solely on monetary accumulation.