The business of life sciences came into sharp focus after the pandemic highlighted the effectiveness of mRNA vaccines in protecting people against COVID. But what exactly is life sciences and is the recent market weakness a threat to future innovation ? or an opportunity? In the latest episode of Exchanges at Goldman Sachs, Amit Sinha, head of Life Sciences Investing in Goldman Sachs Asset Management, discusses the evolution of life sciences and how investors are approaching the risks and opportunities within the biotechnology sector.

The recent decline in commodity prices has provided a rare respite for central banks trying to rein in high inflation. But are the energy and food crises afflicting the world actually easing? In the latest episode of Exchanges at Goldman Sachs, commodity bull Jeff Currie, Goldman Sachs? Global Head of Commodities Research, and commodity bear Gary Shilling, President of A. Gary Shilling & Co., debate whether the recent commodity price declines will prove temporary or more lasting while Meghan O?Sullivan, Professor at Harvard University, discusses the geopolitical implications of the commodity crisis and Chris Barrett, Professor at Cornell University, dives deep into the global food crisis and explains what could solve it. This episode is based off of Goldman Sachs Research?s latest Top of Mind report. 

In this episode of Exchanges at Goldman Sachs: Great Investors, Tara Alhadeff, partner at Permira, talks with Alison Mass, chairman of Goldman Sachs? Investment Banking Division, about investing in iconic brands like Doc Martens, Valentino and Golden Goose and the outlook for discretionary spending in times of volatility.

The Asian American community has seen marked success in education, income and innovation but remains underrepresented in managerial and executive positions, according to new research from Goldman Sachs Research. In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research?s Hui Shan, Chief China Economist, and Daan Struyven, Senior Global Economist, discuss the contributions and challenges of the Asian communities in the U.S. and countries across the globe ? and the role that policymaking can play in creating a more equitable future. 

In this episode of Exchanges at Goldman Sachs: Great Investors, Eurie Kim, Managing Partner at Forerunner Ventures, speaks with Goldman Sachs? Katie Koch, Chief Investment Officer of Public Equity in Goldman Sachs Asset Management, about the evolution of direct-to-consumer businesses, her investment philosophy and the dislocation between private and public market valuations.

Small businesses are the life blood of the U.S. economy and the backbone of local communities , but the current economic environment is proving especially challenging. At last week?s 10,000 Small Businesses Summit, more than 2,500 small businesses owners convened in Washington, D.C., to share their experiences and advocate for meaningful policy change. In the latest episode of Exchanges at Goldman Sachs, recorded at the summit, Asahi Pompey, president of Goldman Sachs Foundation, and Joe Wall, a managing director in the Office of Government Affairs, joined host Allison Nathan and two small business owners, Natalie Kaddas and Merv Cutler, to talk about the crucial tests they?re facing ? and the opportunities they see. 

In this episode of Exchanges at Goldman Sachs: Great Investors, Howard Marks, Co-Chairman of Oaktree Capital Management, speaks with Goldman Sachs? Katie Koch, Chief Investment Officer of Public Equity in Goldman Sachs Asset Management, about his investment philosophy, his views on market cycles and why investing is the ?discipline of relative selection.? 

From geopolitical tensions, surging gas prices and energy shortages, how are major companies dealing with the energy transition? In the latest episode of Exchanges at Goldman Sachs, Giulia Chierchia, Executive Vice President of Strategy, Sustainability & Ventures at bp, and Michele Della Vigna, head of Natural Resources Research in EMEA for Goldman Sachs Research, discuss the impact of geopolitical tensions on global energy supplies and how major corporations are navigating the energy transition. 

In this episode of Exchanges at Goldman Sachs: Great Investors, Sandra Horbach, co-head of US Buyout and Growth at The Carlyle Group, talks with Goldman Sachs? Alison Mass, chairman of Goldman Sachs? Investment Banking Division, about what it was like to be a trailblazer in the private equity space and the evolution of diversity in the industry. 

One of the fastest-growing areas within the private financial markets is private credit? where money managers, instead of banks, lend directly to companies. In the latest episode of Exchanges at Goldman Sachs, Lotfi Karoui, Goldman Sachs Research?s chief credit strategist and head of the credit research group, and James Reynolds, global co-head of Private Credit within Goldman Sachs Asset Management, discuss the growth in private credit and how a challenging macro environment is shaping the opportunities ? and the risks ? in the asset class.

How is one of the most senior dealmakers in Europe navigating inflationary pressures? In the latest episode of Exchanges at Goldman Sachs: Great Investors, Tara Davies, Partner, Global Head of Core Infrastructure and Co-head of European Infrastructure at KKR, talks with Goldman Sachs? Alison Mass, Chairman of the Investment Banking Division, about the European infrastructure space and the inflation pass-through mechanic in infrastructure assets.

In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Chairman and CEO David Solomon joined Valentijn van Nieuwenhuijzen, CIO of NN Investment Partners, in The Hague to discuss Goldman Sachs? recent acquisition of NN IP, the economic environment and the challenges facing companies and investors. This episode is repurposed from NN IP?s recent Market Talk podcast ?David Solomon on the economy, investing and sustainability.? 

How is the leader of the world?s largest sovereign wealth fund navigating slowing economic growth, rising inflation and geopolitical conflicts? In Exchanges at Goldman Sachs: Great Investors, we speak with the world?s most respected investors about their investing strategies, career trajectories and their outlook on markets and the economy. In the latest episode, Nicolai Tangen, Chief Executive Officer of Norges Bank Investment Management, talks with Goldman Sachs? Katie Koch, Chief Investment Officer of Public Equity in the Asset Management Division, about the fund?s mission, why he expects the investing environment to be more difficult and living life as a ?perpetual student.?  

The scale and sophistication of cyberattacks are rising exponentially. But so are the levels of investment, innovation and corporate activity in the space. In the latest episode of Exchanges at Goldman Sachs, David Campbell, managing director in growth equity in Goldman Sachs Asset Management, and Marco Poletti, Goldman Sachs? head of Cybersecurity Investment Banking, discuss the evolution of technology and the acceleration of investment and M&A activity within the space.

Investors are facing one of the most challenging backdrops in recent years amid slowing economic growth, rising inflation and geopolitical conflicts. In this special series, Exchanges at Goldman Sachs: Great Investors, we speak with the world?s most respected investors about their investing strategies, career trajectories, and their outlook on markets and the economy. In our most recent episode, Joe Bae, Co-CEO of KKR, talks with Goldman Sachs? Alison Mass, Chairman of the Investment Banking Division, about shifts in the macroeconomic environment, building the firm?s business in Asia and his work to combat anti-Asian discrimination and violence.

Against a challenging backdrop of sky-high inflation, rising rates and growing recession concerns, the S&P 500 has had an undeniably grim start to the year, with the tech-heavy Nasdaq and unprofitable growth companies performing even more dismally. In the latest episode of Exchanges at Goldman Sachs, host Allison Nathan turns to three equity market heavyweights ? Cathie Wood, Founder, CEO, and CIO of ARK Invest; Cliff Asness, Founder and CIO of AQR Capital Management; and David Kostin, GS Chief U.S. Equity Strategist ? for their thoughts on where equities are heading from here and what that means for investors. This episode is based on Allison Nathan's Top of Mind report.

Investors are facing one of the most challenging backdrops in recent years amid slowing economic growth, rising inflation, and geopolitical conflicts. In this special series, Exchanges at Goldman Sachs: Great Investors, we speak with the world?s most respected investors about their investing strategies, career trajectories, and their outlook on markets and the economy. In our most recent episode, Brad Gerstner, founder and CEO of Altimeter Capital, talks with Goldman Sachs? Katie Koch, Chief Investment Officer of Public Equities in the Asset Management Division, about the tech downturn and the launch of Altimeter at the peak of the financial crisis.

The pandemic spurred a new generation of retail investors, many of whom are now stepping away from the markets. In the latest episode Exchanges at Goldman Sachs, John Marshall, head of derivatives research in Goldman Sachs Research, Greg Tuorto, a portfolio manager of small to midcap stocks in our Asset Management Division, and David Jeria, who manages the Americas equity execution team in our Global Markets Division, explain how the role of the retail investor in the markets has evolved and how their trading patterns have shaped market liquidity.  

Investors are facing one of the most challenging backdrops in recent years amid slowing economic growth, rising inflation, and geopolitical conflicts. In this special series, Exchanges at Goldman Sachs: Great Investors, we speak with the world?s most respected investors about their investing strategies, career trajectories, and their outlook on markets and the economy. In our inaugural episode, Tricia Glynn, Managing Director at Advent International, talks with Goldman Sachs? Alison Mass, Chairman of the Investment Banking Division, on ?breaking glass moments? in the industry, her outlook on the private equity landscape, and how she finds her best investments. 

The private financial markets have grown sharply in recent years as easy monetary policies drove investors towards illiquid markets offering higher yields. In the latest episode of Exchanges at Goldman Sachs, Mike Koester, co-president of the Alternatives business in Goldman Sachs? Asset Management Division, explains how investors in the private markets are navigating cyclical headwinds and a slowdown in the pace of fundraising. 

The world?s largest investors ? insurers ? are relatively optimistic about the investment landscape, despite rising concerns about inflation. In the latest episode of Exchanges at Goldman Sachs, Mike Siegel, global head of the insurance asset management and liquidity solutions businesses in Goldman Sachs Asset Management, breaks down the results of the firm?s latest insurance survey.

How low can tech go? The sharp sell-off in technology shares is one of the sector?s worst stretches in years. In our latest Exchanges at Goldman Sachs, Brook Dane, portfolio manager in Goldman Sachs Asset Management, and Peter Callahan, a U.S. TMT sector specialist in our Global Markets Division, discuss the drivers and implications of the tech sector?s market rout.

As investors pull back from risk assets amid fears of slowing economic growth, what does the future of digital assets and cryptocurrencies hold? In our latest Exchanges at Goldman Sachs, Mathew McDermott, global head of digital assets at Goldman Sachs, looks at how the recent volatility in crypto assets is affecting investor demand for digital assets, which is gaining broader acceptance among institutional investors. 

Amid the Russia-Ukraine conflict, COVID-19 lockdowns and associated supply chain disruptions, globalization is arguably facing its biggest test of the post-Cold War era. In this episode of Exchanges at Goldman Sachs, Adam Posen, president of the Peterson Institute for International Economics, Dani Rodrik, professor at the Harvard Kennedy School of Government, and Jim O?Neill, former chairman of Goldman Sachs Asset Management, discuss where globalization is headed from here and what that could mean for society, the economy, and markets. This episode is based on Goldman Sachs Research?s latest Top of Mind report ?(De)Globalization Ahead??

The road to reducing greenhouse gas emissions to zero by 2050 has never been more urgent, but geopolitical tensions, supply chain disruptions and rising inflation have led to renewed focus on energy security. In this episode of Exchanges at Goldman Sachs, Kara Mangone, global head of climate strategy, and John Goldstein, head of Goldman Sachs's Sustainable Finance Group at Goldman Sachs, which recently released its 2021 Sustainability Report, discuss how governments, companies and investors are navigating this transition. 

As COVID-19 lockdowns in China threaten to further upend supply chains and the global economy, investors are reevaluating their exposure to China. In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research?s Kinger Lau, chief equity strategist in Macro Research, and Hui Shan, Goldman Sachs? chief China economist, discuss the outlook for China?s economy and the markets.

Against a challenging macroeconomic backdrop, a growing number of companies are turning to spinoffs, separations and carve-outs in an effort to create value for shareholders. In the latest episode of Exchanges at Goldman Sachs, Ben Snider, senior strategist on the U.S. Portfolio Strategy macro team in Goldman Sachs Research, and David Dubner, global head of M&A Structuring in the Investment Banking Division, explain why an increased focus on corporate margins is leading to a change in restructuring strategies. 

For decades, investors have relied on a 60/40 portfolio ? a mix of 60% stocks and 40% bonds ? for steady growth and income. But rising stagflation risks are raising the possibility of a ?lost decade? of returns for investors in these balanced portfolios while changing the playbook for portfolio construction, according to Christian Mueller-Glissmann, head of asset allocation research in Goldman Sachs Research, and Maria Vassalou, co-chief investment officer of Multi-Asset Solutions in the Asset Management Division, in the latest episode of Exchanges at Goldman Sachs. 

Innovations in the U.S. and China have largely overshadowed Europe's tech scene. But now, thanks to supportive government policies and a surge of private capital, the sector is set to take off. In our latest Exchanges at Goldman Sachs, Lisa Yang, head of the European Media and Internet Research team, and Alexander Duval, head of Europe Tech Hardware, Semiconductors and Video Games, discuss the drivers behind Europe?s digital acceleration.

How is Europe weaning itself from Russian oil and gas? In our latest Exchanges at Goldman Sachs, Goldman Sachs Research?s Samantha Dart, senior energy strategist on the commodities team, Alberto Gandolfi, head of the European Utilities Research team, and Michele Della Vigna, head of Natural Resources Research in EMEA, explain the alternatives to ? and timing of ? Europe?s independence from Russian resources and how these shifts are reshaping the global energy markets.

In the latest episode of Exchanges at Goldman Sachs, Former President of the Federal Reserve Bank of Boston Eric Rosengren, Vice Chairman of BlackRock Philipp Hildebrand, and Goldman Sachs? Head of Global Investment Research and Chief Economist Jan Hatzius discuss how policymakers and businesses are navigating the looming risk of stagflation.

In the latest episode of Exchanges at Goldman Sachs, Salveen Richter, Lead Analyst for the U.S. Biotechnology Sector in Goldman Sachs Research, explains how new innovations in gene editing are transforming the future of medicine and the greater biotech investment landscape. 

In the latest episode of Exchanges at Goldman Sachs, Jung Min, co-COO of Global Technology, Media and Telecom (TMT) and co-head of TMT in Asia Pacific Ex-Japan in Goldman Sachs? Investment Banking Division, explains the evolution of the gaming industry and why the sector is poised to become the next battleground for big tech.

In the latest episode of Exchanges at Goldman Sachs, Beth Hammack, Goldman Sachs? co-head of the Global Financing Group in the Investment Banking Division, explains how tightening financial conditions and volatile markets are affecting companies? ability to raise capital.

In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research?s Daan Struyven, senior global economist, Peter Oppenheimer, chief global equity strategist, and Kamakshya Trivedi, co-head of Global Foreign Exchange, Interest Rates and Emerging Markets Strategy Research, discuss the implications of the Russia-Ukraine conflict on global economies, equities and emerging markets. 

In the latest episode of Exchanges at Goldman Sachs, David Mericle, Goldman Sachs Research?s chief U.S. economist, and Brian Friedman, Global Markets Division?s global head of Market Strats, discuss how the hawkish shift in Fed policy is affecting economic growth, markets and investors.

In the latest episode of Exchanges at Goldman Sachs, Jeffrey Currie, Global Head of Commodities Research in the Goldman Sachs Research, discusses why he believes commodities are entering a supercycle and how the current geopolitical landscape is shaping commodity markets.  

In the latest episode of Exchanges at Goldman Sachs, Toll Brothers CEO and Chairman Doug Yearley and Terry Hagerty, Goldman Sachs? co-head of Homebuilding and Building Products, discuss the outlook for the housing and home building market in 2022.

In the latest episode of Exchanges at Goldman Sachs, Sharmin Mossavar-Rahmani, Head of the Investment Strategy Group and Chief Investment Officer for the Consumer and Wealth Management Division, discusses the investment themes outlined in ISG?s 14th annual investment outlook and explains why investors should continue to stay invested.

In the latest episode of Exchanges at Goldman Sachs, Jeffrey Shaman, Director of the Climate and Health Program at Columbia University?s Mailman School of Public Health, and Dr. Eric Topol, Founder and Director of the Scripps Translational Science Institute, discuss the rapid spread of the Omicron variant of SARS-CoV-2 and the potential shift to an endemic phase of the pandemic in 2022. 

In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research?s David Kostin and Global Markets Division?s Jonathan Shugar share their thoughts on how the recent jump in bond yields and sell off in growth stocks are reshaping markets and investor strategy.

In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Chairman and CEO David Solomon shares his thoughts on the year ahead and what he expects for the global economy, markets and corporate activity.

The ?metaverse? has captured the imagination of technology investors, but what is it, and what does it signal for the next era of computing? In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research's Eric Sheridan examines how the blending of elements of the physical and digital worlds via virtual reality, augmented reality, gaming and immersive online communities is contributing to the rise of a more decentralized Web 3.0. 

The record wave of M&A activity that we witnessed in 2021 is showing no signs of slowing as we turn the page on a new year. Goldman Sachs? Stephan Feldgoise and Mark Sorrell, co-heads of the global mergers and acquisition business in the Investment Banking Division, explain the drivers behind the deal-making activity and the outlook for 2022. 

In part 5 of our special miniseries, host Kara Mangone talks to Sarah Lawlor, Chief Operating Officer of the Sustainable Solutions Council in the Global Markets Division about the tools available to ESG investors and how they can find and access opportunities in a Net Zero future.

Despite mixed progress on global climate action at COP26, a key takeaway emerged: the private sector is stepping up to tackle climate change. In this episode, experts from former Bank of England Governor Mark Carney to Engine No. 1?s founder Chris James debate the role?and effectiveness?of the private sector in driving change. 

Retirement expectations in the wake of COVID-19 are evolving and may be at odds with reality, according to the inaugural Retirement Survey & Insights Report from Goldman Sachs Asset Management. 

In part 4 of our special miniseries, host Kara Mangone talks to John Greenwood of our Investment Banking Division and Ahmed Saeed of the Asian Development Bank on the role public-private partnerships will play in the drive to Net Zero.

India?s digital transformation is driving a surge in tech IPOs that is reshaping its markets and economy. Goldman Sachs Research?s Tim Moe, Sunil Koul and Santanu Sengupta explain the drivers that are powering economic growth and markets, fueling IPOs and creating emerging investment opportunities. 

In part 3 of our special miniseries, host Kara Mangone explores nature based solutions in sustainable finance with Peter Kelly and Lisa Williams of GS' Asset Management Division.