Latest Interviews
Showing 856–870 of 1,198 interview transcripts.
Clear all filters- Goldman Sachs8 min
Tracking China’s Economic Recovery
Goldman Sachs China Equity Research deployed a custom aggregated demand tracker synthesizing 58 weekly data inputs to gauge real-time economic recovery against lagging official statistics. The analysis reveals aggregate demand reached 81% of pre-pandemic levels by late April, driven by strong rebounds in consumer staples and construction while discretionary sectors like air travel remain severely depressed. Concurrently, the firm projects a structural shift toward new infrastructure spending, which is expected to grow by over 20% this year to offset near-term slowdowns and drive future productivity.
- Goldman Sachs1h 1m
Phasing in the Reopening of the Economy
Sharmin Mossavar-Rahmani, Dr. Luciana Borio, Dr. Florian Krammer, Sharmeen Mosavaramani
As of April 2020, global infections surpassed 3.2 million with 61,600 U.S. fatalities, prompting a complex transition toward economic reopening despite many states failing to meet sustained case reduction criteria. Therapeutic advancements, notably the NIH's findings on baricitinib, offer potential mortality reductions while experimental monoclonal antibodies and multiple vaccine platforms aim for deployment by mid-year to address the pathogen's persistence. Public health officials warn that premature relaxation of restrictions risks autumnal resurgence, necessitating robust testing expansion and contact tracing to manage recurring waves until herd immunity is achieved.
- Goldman Sachs8 min
Jason Mathews on Major Themes Driving Markets
Analysts are divided between an optimistic camp anticipating a six-week economic reopening supported by stimulus and a pessimistic camp warning of long-term damage from massive job losses and reduced equity buybacks. The energy sector faces intense scrutiny regarding solvency amidst negative oil prices, prompting investors to seek firms with strong balance sheets or bet on tanker companies holding storage capacity. Meanwhile, over $1 trillion has flowed into money market funds, creating a significant liquidity reserve that may fuel future market appreciation once the current focus on COVID-19 outcomes shifts to election-related volatility.
- Goldman Sachs23 min
Deepak Chopra, MD, Founder of The Chopra Foundation
Dr. Andrew Newberg outlines a framework for managing crisis by applying the S-T-O-P technique to dissolve emotions through non-judgmental physical observation and biological self-regulation. He connects historical technological advancements following past upheavals to a future where algorithms correlate mental and biological states to foster creativity over anxiety. This approach culminates in a philosophy of emotional intelligence that progresses from empathy to love, driving biological healing through limbic resonance while promoting a post-crisis ecosystem built on humility and shared purpose.
- Goldman Sachs9 min
How Corporate CEOs are Navigating the Shutdown
Over the past eight weeks, corporate clients have transitioned from securing liquidity to navigating Q1 earnings calls, where board members are actively intervening on capital allocation and workforce strategies amid a market where 90% of clients face disruption. While M&A activity remains suppressed pending stability, emerging pent-up demand suggests a resurgence in the second half of the year as leaders adapt operational models and shift engagement practices toward hybrid video interactions. Goldman Sachs has facilitated this crisis response by increasing internal communication frequencies and leveraging virtual platforms to guide clients through sector-specific reopening protocols and strategic value reassessments.
- Goldman Sachs8 min
How the Shutdown is Driving Millennial Investing Themes
Over the last five years, the fundamental equity team has identified the 2.3 billion millennial demographic as a primary driver of tech-enabled consumption and wellness trends. The pandemic accelerated these behaviors by forcing mass adoption of e-commerce, streaming services, and remote work tools across all age groups, resulting in record adoption metrics for platforms like Shopify, Disney+, and Zoom. Looking ahead, the team expects a rebound in experiential spending driven by pent-up demand and continues to prioritize investments in sustainable packaging, genomics-driven healthcare, and companies capable of surviving the lockdown period.
- Goldman Sachs57 min
The State of the Real Estate Market
Sharmin Mossavar-Rahmani, Alan Kava, Roy March, Ralph Rosenberg, Sharmeen Mosavaramani
On April 24, 2020, Goldman Sachs, KKR, and Eastdale executives analyzed a global real estate market defined by record cap rate spreads, an 80% drop in private transaction volumes, and divergent sector performance driven by the COVID-19 pandemic. While hospitality and retail faced existential threats from plummeting occupancy and accelerating structural decline, industrial and life science sectors demonstrated resilience through e-commerce growth and near-perfect rent collections. Industry leaders anticipate a prolonged recovery period where well-capitalized banks may stabilize the market, yet a sharp bifurcation remains between distressed "have-to" sellers and liquidity-rich investors poised to acquire depressed assets.
- Goldman Sachs7 min
The Case for Variable Dividends
Goldman Sachs co-head of single stock research Jim Cramer identifies a severe market correction where dividend-paying stocks have trailed the broader market by over 15% due to investor fears regarding unsustainable fixed payouts during economic downturns. He proposes shifting to variable dividends tied to a fixed percentage of free cash flow, a mechanism designed to prevent balance sheet depletion and forced equity issuance by automatically adjusting payouts as earnings fluctuate. This strategy specifically targets cyclical sectors like semiconductors, energy, and consumer discretionary, aligning dividend obligations with actual financial performance rather than rigid commitments that the market currently penalizes.
- Goldman Sachs9 min
José Manuel Barroso on Europe’s Economic Relief Package
European leaders unanimously approved a 540 billion euro economic relief package utilizing funds from the European Stability Mechanism, the European Investment Bank, and a new employment support program to address the pandemic's asymmetric economic damage. While Chancellor Merkel signaled increased German financial commitment, key negotiations remain unresolved regarding the ratio of loans to grants and the integration of this plan with the 2021 Multi-Financial Framework. The crisis is accelerating a strategic shift toward greater European sovereignty, boosting digital transformation priorities while prompting a cautious re-evaluation of the Green Deal's immediate implementation.
- Goldman Sachs7 min
What Shutdowns Mean for Real Estate Investing
Goldman Sachs analyzes a bifurcated real estate market where data centers and logistics sectors have thrived while retail and hospitality face severe rent collection challenges and business closures. The firm highlights that while stimulus measures have driven a 27 percent recovery in REIT equity, tight credit standards and shifting commercial patterns now constrain the residential housing market. Long-term investment outcomes ultimately depend on the effectiveness of economic stimulus in stabilizing employment and resolving legal disputes over commercial leases.
- Goldman Sachs42 min
Jeff Maggioncalda, CEO of Coursera
Jeff Maggioncalda, Catherine Tate
Coursera leverages its ecosystem of 55 million learners, 165 elite universities, and 40 industry partners to rapidly expand access during the 2020 pandemic, seeing a twelve-fold surge in new learner acquisition and a five- to eighteen-fold spike in demand across diverse domains. CEO Jeff Maggioncalda highlights a structural transformation where 50 universities transitioned to the "Coursera for Campus" model within months, driving over 5.9 million total enrollments and prompting a permanent shift toward blended learning and credentialing as a standard business continuity strategy. This growth is underpinned by innovations like the "Course Match" algorithm and a freemium funnel that reduces student acquisition costs to $1,250, positioning online degrees and corporate deep-skilling tracks as essential solutions for a global higher education landscape facing significant infrastructure disparities.
- Goldman Sachs27 min
Paul Farmer CBE, CEO of Mind
Experts and organizations including Mind, Samaritans, and Goldman Sachs are addressing a pandemic-induced surge in mental health crises by promoting protective strategies such as strict routine maintenance, digital detoxification, and structured remote work environments. Historical precedents from the SARS outbreak and 2008 economic crash inform current protocols for vulnerable demographics, including frontline workers facing PTSD risks and students navigating educational uncertainty. Ultimately, the initiative aims to leverage these challenges to normalize mental health care as a societal priority and institutionalize resilience-building practices for the next decade.
- Goldman Sachs6 min
The Record Volumes and Big Deals Reshaping the Credit Markets
Following a record $265 billion monthly volume in March 2020, the investment-grade and high-yield syndicate markets sustained unprecedented activity driven by Federal Reserve credit facility expansions and strong corporate refinancing needs. Borrowers leveraged historically favorable financing conditions to extend debt duration and bolster liquidity, while investor demand broadened from traditional holders to include high-yield-focused accounts capitalizing on the market's resilience. With major refinancing waves anticipated in May, market participants expect the current flow of supply to be met by sustained inflows as the Fed's backstop measures stabilize conditions without acting as the primary market driver.
- Goldman Sachs9 min
Harit Talwar on the Future of Consumer Banking
Goldman Sachs deployed proactive relief measures for its Marcus and Apple Card customers, offering interest-free payment deferrals and penalty-free early CD access to support a demographic of average loan balances between $10,000 and $15,000. By transitioning 100% of its workforce to remote operations, the institution maintained uninterrupted digital and call center support, which resonated with a client base prioritizing employee safety and continuous service during a period of heightened financial anxiety. These actions have accelerated industry-wide shifts toward 24/7 digital-first banking models and established brand social responsibility as a primary driver for consumer decision-making.
- Goldman Sachs44 min
Adm. Timothy J. Keating, USN (Ret.) and Brig. Gen. Robert S. Spalding III, USAF (Ret.)
Timothy J. Keating, Robert S. Spalding III, Admiral Timothy Keating, Brigadier General Robert S. Spalding III, Norman Nye, Tim Keating, Rob Spalding
Hosted by Goldman Sachs's Norman Nye on April 15, 2020, Admiral Timothy Keating and Brigadier General Rob Spalding assessed how the COVID-19 pandemic accelerated U.S.-China geopolitical rivalry, particularly regarding Taiwan, supply chain decoupling, and 5G surveillance infrastructure. The experts concluded that the crisis would permanently shift global alignment toward a "democratic bloc" prioritizing national security over economic integration, forcing a reshoring of critical industries and tighter restrictions on Chinese technology. They further warned that economic strains could provoke China to employ gray zone tactics while the United States pivots toward strengthening alliances in the Indo-Pacific, India, and Latin America.