Latest Interviews
Showing 811–825 of 1,198 interview transcripts.
Clear all filters- Goldman Sachs7 min
What’s Next for Emerging Markets Equities
Emerging market equities have rallied due to pandemic recovery, fiscal stimulus, and resilient corporate earnings, with a specific structural shift occurring as manufacturing capacity relocates from China to nations like Mexico. The sector's diversity drives distinct opportunities across fintech, where China and India lead adoption, and e-commerce in Latin America, which is projected to double its penetration rate within five years. Although near-term earnings may decline, Goldman Sachs maintains a positive outlook based on projected regional growth of 7% to 8% and the current discount of EM valuations relative to historical levels and developed markets.
- Goldman Sachs7 min
Face Masks and GDP
Goldman Sachs Research proposes a national face mask mandate as an economic alternative to lockdowns, projecting that increasing U.S. compliance from 70% to 85% could lower daily infection growth rates from 1.6% to 0.6%. The report argues this strategy would avoid the estimated 5% GDP reduction associated with equivalent restrictions on economic activity, citing data from East Asia and Southern Europe where mandates successfully slowed viral spread. While the analysis acknowledges potential measurement errors, it concludes that federal or decentralized mandates offer a statistically viable path to mitigate the Sunbelt's accelerating crisis.
- Goldman Sachs9 min
Small Cap Stock Performance
Following a post-March market bottom where small-cap stocks outperformed large-caps by 30%, investors are capitalizing on a recovery trade focused on domestically generated revenues. Portfolio managers have strategically avoided pandemic-impacted sectors like energy and retail, instead positioning capital in healthcare, technology, and consumer digitization companies capable of sustaining market share. This active, bottom-up approach leverages deep fundamental analysis to identify inflection points in firms pivoting toward therapeutics, educational technology, and cybersecurity, reinforcing the strategy's efficiency advantage over passive small-cap investing.
- Goldman Sachs11 min
Stress Testing the Big US Banks
The Federal Reserve implemented a new Stress Capital Buffer Framework for the 10th annual stress test, allowing 32 banks to bypass prior approval requirements for capital returns while withstanding simulated scenarios of 10% unemployment and a 50% market decline. All participating institutions passed with $140 billion in excess aggregate capital, positioning the banking system with double the 2008 reserves and liquidity sufficient to support over $1 trillion in incremental lending. To address projected unemployment peaks exceeding 15%, banks will resubmit capital plans in late 2020 while leveraging robust capital market activity to offset rising loan loss reserves and maintain operational profitability.
- Goldman Sachs23 min
Val Ackerman, Commissioner of the Big East Conference
On March 12, the Big East Conference suspended its tournament quarterfinals following a strategic assessment by its Board of Directors amidst state mandates on large gatherings and the broader coronavirus response. Under the leadership of President Val Ackerman, the conference simultaneously launched a diversity working group across its 11 member schools and advocated for NCAA rule changes permitting student-athletes to monetize their names, images, and likenesses. With UConn's recent addition strengthening its competitive profile and an expanded digital network, the conference is navigating complex return-to-play logistics while leveraging its status as the largest producer of collegiate women's sports programming.
- Goldman Sachs15 min
The Power of Advocacy: US Senators
Ben Cardin, Steve Daines, Maggie Hassan, Senator Cardin, Senator Daines, Senator Hassan
Following a near-unanimous congressional vote, the Paycheck Protection Program evolved through bipartisan legislative adjustments that extended loan forgiveness timelines and recalculated expense ratios based on direct feedback from small business owners. Senators Cardin, Hassan, and Daines facilitated these critical "bug fixes" by prioritizing storytelling and real-world data to ensure the safety net remained effective as economic conditions shifted rapidly. This collaborative process highlighted how transparent communication between legislators and the ground-level intelligence of local entrepreneurs created a flexible framework essential for preserving jobs during the national emergency.
- Goldman Sachs9 min
Paving the Way for the European Green Deal
The European Union's Green Deal outlines an ambitious, €7 trillion investment strategy to achieve net-zero emissions by 2050, targeting decarbonization across power, transport, manufacturing, and heating sectors. Funded through a hybrid model of private capital and public subsidies, the initiative leverages existing recovery funds to transform energy infrastructure while aiming for a five-to-one economic return multiplier. With strong backing from 19 member states and accelerated legislative timelines, the plan seeks to establish global climate leadership, though its success hinges on resolving potential bottlenecks between centralized mandates and local permitting processes.
- Goldman Sachs7 min
The Rise of Chinese Beauty Brands
China's cosmetics market, the world's largest and fastest-growing with a 20% annual growth rate, is being propelled by the high-spending post-90s demographic and a cultural shift toward local brands. While multinational giants like L'Oréal currently dominate the prestige segment with 90% market share, domestic leaders such as Proya are capitalizing on a mass market that local firms already control at 50%. Driven by digital innovation and expanding premiumization, this landscape projects a significant long-term expansion in local brand dominance within the mass sector as the premium segment slows.
- Goldman Sachs27 min
Right Honourable David Lammy, Member of Parliament for Tottenham
David Lammy analyzes the Windrush scandal, systemic racism in the criminal justice system, and the disproportionate impact of the pandemic on BAME communities to highlight a "burning injustice" where only 60 of 5,000 affected individuals have received compensation. He critiques the government's failure to adopt his review's recommendations and notes rising ethnic minority representation in prisons despite low diversity in policing and the judiciary. To combat this "new tribalism," Lammy proposes a national civic service to foster an encounter culture, urging a shift from identity politics to a shared human identity that addresses global challenges and repairs fractured social unity.
- Goldman Sachs8 min
The Future of Fintech
Economic volatility has accelerated the secular shift toward electronic payments, remote service delivery, and AI-driven data analytics across the global fintech landscape. While traditional banks and tech giants like Apple and Visa compete to modernize legacy infrastructure with cloud-based platforms, emerging markets such as India and China are leapfrogging physical limitations through mobile-first ecosystems led by players like Ant Financial. This dual push aims to replace outdated mainframe systems to enhance financial inclusion for small businesses and consumers while fostering real-time competitiveness against disruptive startups.
- Goldman Sachs21 min
Peter Oppenheimer, Goldman Sachs Chief Global Equity Strategist
This analysis classifies twenty-seven bear markets since 1880 into structural, cyclical, and event-driven categories, noting that event-driven crises now trigger faster recoveries due to unprecedentedly rapid policy responses. While the simultaneous monetary and fiscal stimulus of 2020 accelerated the economic rebound, the resulting record debt levels constrain future crisis tools and signal a long-term environment of lower growth and returns. Consequently, investors are advised to focus on dividend-paying assets and structural opportunities in digitalization and decarbonization, maintaining a long-term horizon to capture the best risk-adjusted returns within a low-volatility cycle.
- Goldman Sachs7 min
Trends in Japanese Markets
Following the 2016 implementation of negative interest rates and yield curve control, Japan's financial sector absorbed the shock as ineffective transmission mechanisms failed to stimulate loan demand or economic growth. Concurrently, aggressive corporate governance reforms under the Abe administration successfully revitalized shareholder activism, driving record share buybacks and dividend payouts before the pandemic temporarily halted cash return trends. While corporate priorities have shifted toward maintaining higher cash reserves for resilience, activist investors continue to enforce board independence and structural alignment as a permanent feature of Japan's market dynamics.
- Goldman Sachs11 min
The Future of European Equities
Goldman Sachs Research characterizes the current environment as the onset of a new bull market defined by "fat and flat" returns, where high valuations and zero interest rates cap upside potential despite market resilience to economic scarring. The firm advises shifting from broad index strategies to alpha-generating sector rotations, specifically targeting "mutating" value companies in energy and automotive sectors that are successfully pivoting toward decarbonization. In Europe, this outlook is supported by decisive ECB liquidity measures and the EU Recovery Fund, which are expected to fuel growth in digital infrastructure, renewables, and capital goods through coordinated fiscal transfers.
- Goldman Sachs21 min
Eric Yuan, Founder and CEO of Zoom
Zoom CEO Eric Wan details the platform's unprecedented growth to 300 million daily users and the company's simultaneous infrastructure expansion and security overhauls in response to the crisis. Beyond operational challenges, Wan outlines a strategic pivot toward deeper B2B integration and a future vision where video conferencing incorporates AI translation and haptic feedback. He concludes by noting that while remote work may boost productivity, it necessitates new cultural policies to address mental fatigue and promote sustainable employee happiness.
- Goldman Sachs31 min
Marc Morial, President and CEO of the National Urban League
During a Juneteenth discussion, Morial connects the historical significance of the holiday to the modern consciousness ignited by George Floyd's death, framing the resulting protests as a unique, multiracial coalition demanding substantive police reform. He advocates for the Justice in Policing Act, which includes federal standards, bans on chokeholds, and a national database to prevent officers fired for brutality from moving between jurisdictions, while simultaneously condemning voter suppression tactics and praising the Supreme Court's landmark decision protecting LGBTQ+ employees. Drawing from these civic struggles and the COVID-19 pandemic, Morial outlines a leadership philosophy that emphasizes decisive crisis management and the necessity of uniting diverse constituencies when coherent plans are initially unavailable.