Latest Interviews
Showing 1–15 of 165 transcripts.
Clear all filters- Goldman Sachs11 min
Live Market Insights: Addressing Client Questions on the Mid-Year 2026 Outlook
Sharmin Mossavar-Rahmani, Matt Weir, Nicola Gifford
Analysts project a robust 2026 outlook for U.S. equities, forecasting S&P 500 earnings growth of approximately 17% driven by broad-based margin expansion and macroeconomic resilience following a transition to energy independence. Portfolio strategies reflect this optimism by maintaining U.S. allocations while adding targeted exposure to AI supply chain leaders in Korea and Taiwan, while explicitly advising against the high costs of systematic put option hedging. Future market dynamics will be shaped by the tension between hyperscalers deploying 100% of operating cash flow into AI capital expenditures and the counterbalancing force of $1.3 trillion in projected corporate share buybacks.
- Goldman Sachs17 min
Jon Winkelried on Lessons from Goldman Sachs and TPG’s Next Chapter
Jon Winkelried, Matt McClure, John Winkle-Reed
John Winkle-Reed, who rose from a 1981 Goldman Sachs intern to co-president before retiring in 2009, applied his leadership philosophy of active listening and decision transparency to transform TPG from a $64 billion founder-led buyout firm into a $310 billion diversified public alternative asset manager. His strategic shift from a siloed structure to a unified "one firm" orientation overcame significant internal resistance, enabling the 2022 public listing and major acquisitions like Angela Gordon in 2023. Currently serving as sole CEO since 2021, Winkle-Reed has integrated artificial intelligence as a central growth driver while steering the organization's geographic and operational evolution from a San Francisco-centric model to a global enterprise with its largest workforce in New York.
- Goldman Sachs12 min
Are Hedge Funds Still Bullish on AI Stocks?
Vincent Lin, Chris Hussey, Vinny Lin
Following a historic 32% drawdown in high-beta momentum strategies, the market has stabilized as hedge funds reduced semiconductor exposure from record levels while managing a four-fold surge in volatility. Despite the sharp correction driven by heavy selling pressure in technology sectors, equity funds have maintained healthy returns and are currently repositioning near median exposure to capitalize on dipping AI infrastructure valuations. Analysts now advise utilizing limited-loss option structures to navigate upcoming earnings for mega-cap hyperscalers, while monitoring the risk of rising stock correlations that could undermine the current low-correlation alpha opportunities.
- Goldman Sachs19 min
US Midyear Outlook: Geopolitical Shocks, the New Fed Era, and Growth
Recent U.S. economic data reveals unexpectedly resilient job growth and stickier inflation stabilizing near 3%, driven by geopolitical tensions in the Middle East and AI-related price measurement distortions. Goldman Sachs forecasts core PCE inflation to settle around 2.1% with real GDP growth of 2%, prompting expectations that the Federal Reserve will maintain current interest rates through July while shifting its policy stance toward neutralizing inflation regardless of its source. Despite market speculation regarding rate hikes, the primary economic risk remains a potential escalation of the Middle East conflict that could trigger sustained price increases and destabilize financial markets.
- Goldman Sachs9 min
David Solomon Joins CNBC to Discuss 2Q Earnings, the Deal-Making Environment, and AI
Goldman Sachs reported a 39% year-over-year revenue increase and 78% earnings growth, attributing this performance to a "technology super cycle" where AI infrastructure demands have created a capital formation environment with supply constrained by high demand. Management characterized the current market as being in the early stages of a long-term trend, citing the $1 trillion in capex from six major firms and robust capital raising activity from entities like Alphabet as evidence of sustainable growth rather than a bubble. Despite acknowledging potential economic dislocations, the firm expects the U.S. economy to navigate speed bumps effectively while leveraging strong client demand to drive selective deal origination and $20 billion in quarterly revenue across capital markets, M&A, and wealth management.
- Goldman Sachs18 min
How Falling Launch Costs and AI Are Driving the Space Economy
Michael Tarulli, Erik Sparks, Alison Nathan
Driven by a 95% cost reduction through rocket reusability, the global space economy has shifted from government dominance to an 80% commercial model currently valued at $625 billion. Key technological transitions to Low Earth Orbit constellations and AI integration are fueling growth toward a projected trillion-dollar market by 2040, though investors still prioritize order backlogs over profitability amidst high launch failure risks. While geopolitical tensions and collision cascade threats challenge sustainability, the sector is rapidly evolving toward autonomous manufacturing, commercial stations, and eventual off-world resource extraction as a universal utility by 2050.
- Goldman Sachs10 min
AI: What Investors Should Know
Jim Covello, Sharmin Mossavar-Rahmani
Goldman Sachs analysts project that global AI capital expenditures will surpass $3 trillion by 2026, though they warn of distinct "earnings bubbles" in public markets and "valuation bubbles" in private sectors driven by unsustainable demand. While consumer adoption remains strong, enterprise integration faces hurdles due to data fragmentation, leading experts to predict a strategic shift toward specialized Small Language Models that prioritize efficiency over mass labor replacement. The investment landscape is further complicated by geopolitical divisions favoring the U.S. in chip infrastructure and China in model production, alongside concerns over circular financing practices that delay profitability for large-cap companies.
- Goldman Sachs10 min
Geopolitics, AI, and Private Credit: Navigating Three Key Investor Concerns
Following Middle East strikes that disrupted global oil production and slightly altered Federal Reserve rate cut expectations, U.S. equities have recovered to record highs as historical data indicates a 95% probability of recovery within eight weeks. The firm attributes this resilience to America's energy insulation and revised 2026 earnings growth forecasts, while advising a strategic overweight in U.S. assets alongside a selective tilt toward the software sector. Although private credit risks remain contained and systemic stress is deemed unlikely, investors are urged to maintain long-term market participation through customized asset allocations rather than attempting to time the current volatility.
- Goldman Sachs10 min
Why US Stocks Could Climb Higher
Goldman Sachs Head of US Equity Sales Trading John Flood characterizes the current market as a "buy dip" environment driven by record-breaking trading volumes and robust earnings momentum that has lifted the S&P 500 toward the 8,000 mark. Key supply-side dynamics, including $140 billion in recent IPOs and broadened corporate buyback activity, are offsetting sector rotation into semiconductor stocks while institutional investors continue to dominate demand. Despite macroeconomic risks centered on potential interest rate hikes, the prevailing outlook remains bullish with a strategic preference for high-momentum assets in the United States and Asian markets.
- Goldman Sachs20 min
Thelma Golden on Preserving Black Culture and the New Era of the Studio Museum in Harlem
Thelma Golden, serving as Ford Foundation Director and Chief Curator of the Studio Museum in Harlem, continues her career-long mission to center artists of African descent while overseeing the museum's relocation into a new state-of-the-art facility in November. Her leadership leverages strategic partnerships with entities like Goldman Sachs to transform the institution from a temporary loft into a permanent cultural anchor that preserves the legacy of the 1968 founding while supporting contemporary creation. This expansion aims to solidify the museum's role as a vital space where art functions as both a historical mirror and a visionary window for processing current societal realities.
- Goldman Sachs11 min
Why Rates Could Keep Rising
Phillip Lee, Chris Hussey, Phil Lee
Rising real yields are driven by a convergence of inflation uncertainty, resilient growth, and elevated fiscal deficits, causing market expectations to shift from anticipated rate cuts to a prolonged pause or potential hikes. The Federal Reserve's upcoming June guidance from its new Chairman underscores this uncertainty, while higher mortgage rates are stifling the housing market and eroding consumer spending power. Institutional investors are consequently adopting a bear-steepener strategy, maintaining dynamic patience in fixed income portfolios to navigate the divergence between robust equity performance and weakening underlying consumption.
- Goldman Sachs15 min
How to Trade Oil Now
Oil markets are currently navigating a binary valuation dependent on a potential memorandum signing, which determines whether prices stabilize near $95–$105 or re-price higher following a 30-day sell-off window. While the April ceasefire has removed the immediate risk premium on infrastructure, refined product shortages and yield shifts are expected to constrain European jet fuel supplies and sustain elevated summer prices for at least three to six months. Investor sentiment has subsequently pivoted from directional trading to downside hedging, anticipating that full supply normalization and a bearish market scenario will not materialize until nine months post-conflict.
- Goldman Sachs19 min
Will AI Make Markets Less Efficient?
Osman Ali, Alison Nathan, George Lee
Goldman Sachs' Global Co-Head of Quantitative Investment Strategies, Osman Ali, discusses how his team leverages AI and machine learning to analyze market sentiment across 15,000 stocks daily, capturing the fact that over half of recent equity returns are now driven by themes rather than fundamentals. Ali explains that while advanced language models enhance market efficiency, their widespread adoption creates new alpha opportunities through crowding effects and predictable herd behavior, which the firm actively models to exploit. This strategy relies on a hybrid approach combining proprietary data, custom technology, and human experience to navigate a zero-sum game where increasing market complexity continuously generates fresh sources of value.
- Goldman Sachs18 min
Winning the Right to Invest: 20VC’s Harry Stebbings
Harry Cassell reframes media distribution as a critical weapon for securing investment rights, leveraging a data-driven content strategy that generated $6.1 million in 36 hours to differentiate his platform from traditional venture capital models. Critiquing the current market's saturation by large multi-stage funds, he emphasizes founder empathy, specific personality traits, and a robust LP network to navigate an environment where capital is commoditized and growth expectations have shifted. Looking toward Europe, Cassell predicts a decade of massive company creation driven by lower barriers to entry and increased founder resilience, citing early successes like Lovable as evidence of a reinvigorated ecosystem ready to compete globally.
- Goldman Sachs10 min
Big Opportunities in Small Cap Equities
Following a period of underperformance, small and mid-cap stocks present a valuation opportunity driven by anticipated Federal Reserve rate cuts, a robust earnings cycle, and surging M&A activity. Investment strategies focus on high-potential sectors including biotechnology, semiconductor capital equipment, and defense innovation while cautiously monitoring domestic manufacturing and onshoring trends. Analysts expect strong January performance to catalyze investor inflows, though the outlook remains tempered by the need for sustained software stability and gradual credit market normalization.