The Walker Webcast

Peter Oppenheimer, Chief Global Equity Strategist for Goldman Sachs

Apr 18, 2024

Peter Oppenheimer, Chief Global Equity Strategist for Goldman Sachs, discusses market cycles vs. super cycles, secular trends like AI and decarbonization, opportunities and risks for investors. Willy and Peter navigate economic cycles, market dynamics, uncertainties, the future of the US dollar, and global markets.

01:07:40

Episode guests

Willy

Peter Oppenheimer

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Episode notes

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Quick takeaways

Investing in European companies with similar competitiveness but lower valuations can offer opportunities for diversification.

Commodities present investment potential due to increased demand for materials like copper, driven by AI and decarbonization trends.

Despite the dominance of the US dollar as a reserve currency, structural shifts may lead to long-term currency valuation adjustments.

Deep dives

Structural Shifts in the Economy and the Impact on Asset Valuations

The US stock market's high valuations have been fueled by lower cost of capital, while European companies show similar global competitiveness but trade at lower P/E ratios. Diversifying geographically may offer investment opportunities due to valuation disparities.

Introduction

3min

Exploring Peter's Academic Path and Interdisciplinary Thinking

2min

Discussion on Fitness Routines and Changes in Investment Banking

2min

Exploring Goldman Sachs Culture and Financial Market Dynamics

4min

Navigating Economic Cycles and Market Dynamics

31min

Navigating Global Uncertainties and Economic Shifts

11min

The Future of the US Dollar and Global Markets

14min

On this Walker Webcast, Willy was joined by Peter Oppenheimer, chief global equity strategist for Goldman Sachs. He is also the author of Any Happy Returns: Structural Changes and Super Cycles in Markets, which analyzes the complex factors impacting structural changes in financial markets and investor opportunities.

He and Willy discussed the difference between market cycles and longer-term structural trends (what he refers to as “Super Cycles”), secular trends like AI and decarbonization that are shaping the emerging Post-Modern Cycle, the biggest opportunities and risks investors should be thinking about, and so much more.

If you’re looking to better understand upcoming market conditions and returns, you won’t want to miss this webcast.

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The Walker Webcast

Peter Oppenheimer, Chief Global Equity Strategist for Goldman Sachs

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Structural Shifts in the Economy and the Impact on Asset Valuations

Commodities' Super Cycle and Investment Opportunities

The Dollar's Role as the Reserve Currency and Relative Value

Aging Demographics and Risks of Rising Interest Rates

AI and Decarbonization as Future Growth Drivers

Environmental Concerns and Decarbonization Challenges

Remember Everything You Learn from Podcasts