Latest Interviews
Showing 661–675 of 1,304 transcripts.
Clear all filters- Goldman Sachs10 min
What to Expect At China’s ‘Two Sessions’
The 2021 Two Sessions mark the commencement of China's 14th Five-Year Plan and the Communist Party's centennial, serving as the primary venue for outlining a shift toward domestic consumption, technological self-reliance, and environmental sustainability. While Goldman Sachs anticipates that the government may forgo a specific numeric GDP target to avoid overstimulation, the event will instead prioritize key metrics on inflation, employment, and the implementation of normalizing fiscal and monetary policies. These deliberations set the strategic framework for balancing economic resilience with long-term goals such as carbon neutrality and reduced reliance on external markets.
- Goldman Sachs16 min
Digital Transformation and the Future of Software
A February 2021 analysis of digital transformation trends reveals that corporate IT buyers are accelerating spending, reallocating approximately 15% of budgets toward cloud adoption and security while shifting strategic vendor relationships to leaders like Microsoft and ServiceNow. Despite the software sector achieving a 90% gain in 2020 that rivals dot-com era valuations, investors are increasingly adopting a barbell strategy that favors high-growth technology stocks and value assets over mid-range equities. The discussion highlights that while immediate remote work tools dominate headlines, fundamental digital infrastructure and undervalued artificial intelligence capabilities represent the most attractive long-term opportunities as the market navigates a projected sevenfold expansion in cloud substitution.
- Goldman Sachs8 min
The Future of ESG Finance
Goldman Sachs successfully raised $800 million through its first five-year non-callable sustainability bond, which was four times oversubscribed and allocated primarily to ESG-focused investors. These funds will finance new assets addressing climate transition and inclusive growth, operationalizing the firm's $750 billion sustainable finance commitment while bypassing greenwashing concerns via a rigorous, independently audited framework. By securing commitments for a recurring 12-to-18 month issuance cycle and attracting new investor segments, the bank solidified its strategic position in advancing sustainable economic growth.
- Goldman Sachs15 min
Markets Update: Inflation and Equities
Peter Oppenheimer, Jake Seward
Goldman Sachs predicts a historic global reflationary shift driven by synchronized 6.5% GDP growth and massive infrastructure investment, contrasting sharply with the previous decade of deflationary trends. This macroeconomic recovery is fueling record equity inflows and a projected 35% rise in corporate profits, as value and cyclical sectors like banks and industrials outperform defensive assets. Simultaneously, the transition from zero interest rates to a robust growth environment is expected to diminish the appeal of low-volatility strategies while revitalizing dividend yields and restoring long-term investor confidence.
- Goldman Sachs7 min
The Return of Stock Buybacks
Following a 45% contraction in 2020 buyback authorizations triggered by Federal Reserve restrictions on the financial sector, corporate share repurchases are projected to rebound by 60% in 2021 as banks resume activity and strong earnings growth fuels a shift away from cash hoarding. Despite this surge in authorization volume, the market pace is viewed as unsustainable for the full year, though analysts estimate total spending will still increase 15% to support balance sheet strength and offset equity dilution. This resurgence, driven by historic cash reserves and low interest rates, is expected to reignite political scrutiny regarding the use of capital for shareholder returns during the upcoming economic recovery.
- Goldman Sachs8 min
China Net Zero: The Clean Tech Revolution
Sharmini Chetwode, Liz, Harmony
Driven by global political pressure and domestic sustainability goals, China targets peak emissions by 2030 and net zero by 2060 despite accounting for 64% of global emission growth since 2000. The nation's decarbonization roadmap relies on scaling renewables to address half of emissions while utilizing clean hydrogen and carbon capture for hard-to-abate industrial and transport sectors, necessitating a threefold surge in clean energy demand and base metal consumption. To enforce these transitions, the People's Bank of China is prioritizing green finance and the PBOC has launched an emissions trading scheme expanding to seven sectors, aiming to mitigate rising trade friction from the EU's proposed carbon border adjustments.
- Goldman Sachs13 min
Big, Bold, Strategic Moves: The 2021 M&A Outlook
Stephan Feldgoise, Mark Sorrell, Jake Seward, Stefan Feldgeus
Goldman Sachs reported a historic $1.8 trillion in M&A volume during late 2020 and early 2021, driven by abundant private capital, open credit markets, and a strategic shift from risk mitigation to aggressive growth positioning. The firm executed over 100 transactions largely through virtual innovation, including drone site visits, while clients increasingly pursued larger, complex deals and unsolicited bids. Looking ahead, the investment bank forecasts a surge in cross-border activity and large-ticket transactions exceeding $10 billion as vaccine distribution eases restrictions and boards prioritize global repositioning.
- Goldman Sachs13 min
Big, Bold, Strategic Moves: The 2021 M&A Outlook
Stephan Feldgoise, Mark Sorrell, Jake Seward, Stefan Feldgeus
Following a pandemic-induced dip, the M&A market achieved a record $1.8 trillion in second-half 2020 deal value, a rebound driven by vaccine optimism and robust capital availability that propelled activity to double pre-pandemic levels by early 2021. Goldman Sachs facilitated over 100 of these transactions through a predominantly virtual execution model, which clients now favor for efficiency while major cross-border and large-ticket deals exceeding $10 billion resume traditional global patterns. The 2021 outlook predicts aggressive strategic repositioning fueled by abundant private equity dry powder, innovative financing structures, and a heightened appetite for hostile approaches as boards prioritize growth over caution.
- Goldman Sachs16 min
Gregg Renfrew, Founder and CEO of Beautycounter
Founded by Greg Renfrew to address the regulatory gaps in the U.S. beauty industry, Beauty Counter launched in 2006 with a mission to replace untested chemicals through its proprietary "Never List" and holistic clean standards. The brand differentiated itself by leveraging a peer-to-peer sales model to bypass traditional gatekeepers before expanding into major retailers like Target and Sephora to validate its safety-focused approach. Renfrew's company continues to drive systemic change by advocating for federal cosmetic reform while broadening its product line to include Counterman and integrating physical retail spaces with digital content capabilities.
- Goldman Sachs6 min
The ‘Equitization’ of the Credit Markets
Credit markets are undergoing an "equitization" trend driven by the rapid expansion of ETFs, which now represent 15% to 30% of daily trading value in investment grade and high yield sectors respectively. This structural shift has attracted new equity-style participants, reduced transaction costs, and demonstrated robust liquidity performance during the 2020 market stress. Moving forward, the market prioritizes sustainability flows, with issuers committing to expanded ESG-focused solutions to meet evolving client demands.
- Goldman Sachs13 min
The Outlook for Airlines in 2021
Facing a demand trajectory where passenger volume remains roughly 60% below 2019 levels, the airline industry has weathered a $24 billion loss in the first three quarters of 2020 while securing $54 billion in public debt and utilizing $25 billion in CARES Act grants. Despite operational adjustments such as discontinued middle seat blocking and waived change fees, financial experts project a prolonged recovery period with full pre-pandemic demand not resuming until 2023 due to heightened debt loads and suppressed corporate travel. With consolidation unlikely among the top four domestic carriers and fleet strategies focused on retiring older aircraft, the sector anticipates a gradual return to pre-pandemic business models by 2023.
- Goldman Sachs6 min
Silver’s Retail Rally
Following a late January rally driven by retail investors seeking to replicate equity market maneuvers, silver prices have settled near $27 per ounce after hitting a peak of $29. Market analysts distinguish this event from stock speculation by highlighting structural hedges from corporate participants and a constrained global physical supply estimated at $50 to $60 billion, which limits the potential for retail manipulation. Concurrently, a growing investor thesis positions silver as an inflation hedge while aggressive government targets for solar power expansion in the US and China are expected to significantly boost long-term industrial demand.
- Goldman Sachs9 min
What’s Behind the Surge in Small-Cap Stocks?
Small-cap stocks have delivered record-breaking returns driven by favorable macroeconomic conditions, including the Federal Reserve's low interest rate environment, anticipated fiscal stimulus, and the potential for supply chain reshoring under the Biden administration. Significant capital inflows of nearly $19 billion and upward earnings revisions of 50% have fueled this momentum, particularly within the financial, housing, and cyclical sectors which are poised for M&A consolidation as large-cap firms seek growth targets. Despite valuations reaching historic extremes in the growth segment, the Russell 2000 Value index remains attractively priced relative to large-cap peers, even as rising corporate tax risks and heavy retail participation introduce new market dynamics.
- Goldman Sachs22 min
2021 Investment Outlook: “US Resilient”
Sharmin Mossavar-Rahmani, Jake Seward
Goldman Sachs CIO David Koston presents a 2021 investment strategy centered on the "U.S. Resilient" framework, advocating for sustained U.S. equity exposure despite elevated valuations while assigning a base case 8% total return with specific tactical allocations to bank loans over high-yield bonds. The outlook highlights China as the primary emerging market growth driver and warns of downside risks including vaccine efficacy against variants and geopolitical tensions, though upside potential remains tied to robust fiscal stimulus and pent-up consumer demand. Ultimately, the analysis urges clients to maintain long-term equity participation rather than attempting to time exogenous shocks like the pandemic, citing historical evidence that institutional resilience and economic fundamentals will eventually drive market recovery.
- Goldman Sachs17 min
Marcus Samuelsson, Chef and Author of "The Rise: Black Cooks and the Soul of American Food"
Marcus Samuelsson, Margaret Anadu
Award-winning chef Marcus Samuelsson joined Goldman Sachs' Margaret Anadu to discuss the strategic evolution of Black cuisine, emphasizing the need to dismantle monolithic stereotypes through cultural granularity and regional differentiation. Drawing on his journey from Harlem's Red Rooster to pandemic-era community relief efforts, Samuelsson highlighted the critical necessity of Black authorship in media and leadership to ensure equitable access and representation within the American food industry. The dialogue underscored that true progress requires parallel shifts in storytelling, business infrastructure, and historical acknowledgment to transform Black culinary traditions into ubiquitous, accessible elements of the national culinary landscape.