The Prof G Pod with Scott Galloway Prof G Markets: Goldman’s Earnings Slump, an ETF for Options Trading, and Fractional Jet Ownership
41 snips
Oct 23, 2023 
Joining Scott is Ed Elson, a media analyst who brings sharp insights into market trends. They discuss Goldman Sachs' recent earnings struggles compared to its peers and highlight an ETF making options trading accessible for retail investors. The duo delves into the booming trend of fractional jet ownership, exploring its appeal for affluent travelers seeking convenience. With a mix of serious analysis and personal anecdotes, this conversation is both enlightening and entertaining.
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Banks and Interest Rates
- Big banks saw positive earnings due to rising interest rates, but Goldman Sachs and Morgan Stanley struggled.
- Their struggles stem from their reliance on investment banking, which has seen declining activity.
Consistent Cash Flow
- Investors prefer consistent cash flow over fluctuating profits.
- Goldman Sachs and Morgan Stanley are shifting towards wealth management for more predictable earnings.
Banks Profiting from Interest Rates
- Banks benefit from rising interest rates as they charge more for loans but haven't increased savings account rates.
- This expands their profit margins significantly.
