In each episode of "Exchanges," people from the firm share their insights on developments shaping industries, markets and the global economy.
The podcast explores whether AI poses an existential risk to the software industry, a concern that has driven software stock sell-offs. Gabriela Borges from Goldman Sachs Research, details how improvements in coding algorithms and increased competition among AI companies have fueled investor concerns. The discussion hi...
Concerns about oil supply, inflation, and cross-asset volatility stemming from strikes in Iran are examined, focusing on the economic and market implications. Daan Struyven, Co-Head of Global Commodities Research and Head of Oil Research at Goldman Sachs, discusses the impact of reduced flows through the Strait of Horm...
The Japanese equity market's prospects following Prime Minister Sanae Takeichi's election victory are examined in this conversation with Bruce Kirk, Chief Japan Equity Strategist at Goldman Sachs Research. The discussion centers on how the election results could foster political stability and influence investor sentime...
The podcast explores the recent volatility in software stocks and the broader AI trade, questioning the sustainability of high valuations amid AI disruption risks. Ryan Hammond, a portfolio strategist at Goldman Sachs Research, notes that software stocks have experienced a significant valuation derating, approaching le...
David Craver, Co-CIO of Lone Pine Capital, discusses the evolving market landscape and its implications for long-term, fundamental investors. He notes increased single stock volatility and high valuations as key differences from the late 1990s, attributing these changes to passive flows and the rise of multi-strategy f...
The podcast explores the perceived affordability crisis in the U.S., questioning why it's a salient political issue despite real income being largely on its pre-pandemic trend across income quintiles. The discussion highlights housing, particularly owner-occupied housing, as the primary area where affordability is genu...
The podcast explores the "Donroe Doctrine," President Trump's updated version of the Monroe Doctrine, and its implications for U.S. foreign policy in Latin America. Hal Brands explains the doctrine's motivations as both a structural response to global instability and a reflection of Trump's focus on resource control an...
The discussion centers on investment strategies for 2026, particularly regarding U.S. versus non-U.S. assets. Sharmin Mossavar-Rahmani, Head of the Investment Strategy Group and Chief Investment Officer of Wealth Management at Goldman Sachs, suggests that while U.S. equities outperformed in 2025, non-U.S. markets, espe...
The global economic outlook for 2026 is positive, driven by fiscal stimulus, monetary easing, and a constructive regulatory environment. Goldman Sachs CEO David Solomon notes that geopolitical tensions and policy inconsistencies create uncertainty, potentially causing market drawdowns. While the U.S. maintains a growth...
The podcast "Goldman Sachs Exchanges" explores the outlook for global equities, currencies, interest rates, and commodities in 2026. Peter Oppenheimer suggests that equities will be driven by profit growth, particularly in EM and Asia, and advises diversification across sectors, including technology, financials, and in...
The global economic outlook for 2026 is explored through conversations with Goldman Sachs regional experts. David Mericle, Chief US Economist, anticipates strong US growth, driven by fiscal stimulus and easing financial conditions, though the labor market presents uncertainty. Andrew Tilton, Chief Asia-Pacific Economis...
The Goldman Sachs Exchanges podcast explores the economic and market outlook for 2026, characterized by "Sturdy Growth, Stagnant Jobs, Stable Prices." Jan Hatzius and Dominic Wilson discuss their optimistic growth forecast for the U.S., driven by factors like tax cuts and the fading impact of tariffs. While projecting ...
The podcast explores the potential implications of recent political developments in Venezuela for the oil and commodity markets. Daan Struyven, co-head of Global Commodities Research at Goldman Sachs, suggests that while the short-term effects on oil supply are ambiguous, the long-term impact could be significant, espe...
In this episode of Goldman Sachs Exchanges Great Investors, Tony Pasquariello interviews Eric Peters, who leads Coinbase Asset Management and One River Asset Management. Peters shares insights from his early career trading in the corn pit in Chicago, emphasizing risk management. He discusses his transition to Wall Stre...
In this episode of Goldman Sachs Exchanges, Michael Brammeier interviews Scott Goodwin, co-founder of Diameter Capital Partners, about the current credit landscape, signs of stress in the market, and Diameter's investment philosophy. Goodwin shares insights on consumer leverage, the housing recession, and the impact of...
Allison Nathan hosts a discussion on the tech race between the U.S. and China, featuring Mark Kennedy and Paul Triolo. Kennedy outlines the four arenas of the tech race: technology leadership, application, digital infrastructure, and self-sufficiency, noting the U.S.'s lead in core technologies but China's progress in ...
In this episode of Goldman Sachs Exchanges, Allison Nathan interviews David Kostin, the retiring chief US equity strategist at Goldman Sachs, about the current state of the US equity markets and his reflections on his career. Kostin addresses investor sentiment, the AI bubble, and market volatility, providing insights ...
In this episode of Goldman Sachs Exchanges, Allison Nathan interviews Stephan Feldgoise, head of global mergers and acquisitions at Goldman Sachs, about the surge in deal-making activity in 2025 despite geopolitical uncertainty and other headwinds. Feldgoise attributes the M&A market's resilience to strategic imperativ...
In this episode of Goldman Sachs Exchanges, Allison Nathan interviews Robert Kaplan, former president of the Dallas Fed and current vice chairman of Goldman Sachs, about the Federal Reserve's upcoming decisions. Kaplan discusses the complexities the Fed faces due to conflicting economic signals, including a weak labor ...
In this episode of Goldman Sachs Exchanges, Allison Nathan discusses the potential AI bubble with Eric Sheridan and Kash Rangan from Goldman Sachs Research. They explore the current state of AI infrastructure, platform, and application layers, noting the surprisingly high capital expenditure in infrastructure and the s...
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