Goldman Sachs Exchanges

Equity Bear Market: A Paradigm Shift?

Jun 21, 2022

Cathie Wood, Founder and CEO of ARK Invest, is renowned for her focus on high-growth companies. Cliff Asness, from AQR Capital Management, specializes in value investing, while David Kostin is the Chief U.S. Equity Strategist at Goldman Sachs. They dive into the tumultuous equity markets, discussing how inflation and rising rates are reshaping investment strategies. The conversation highlights the evolution of technology, the transition from growth to value stocks, and the potential of disruptive innovations like AI, urging a strategic reevaluation for investors.

26:27

Episode guests

David Kostin

Cliff Asness

Cathie Wood

AI Chapters

Episode notes

Intro

3min

From Dream to Reality: The Evolution of Technology in Today's Market

3min

Valuation Dynamics in Innovative Markets

11min

Navigating the Transition from Value to Disruptive Growth

4min

Navigating Equity Market Risks and Value Opportunities

6min

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.

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