Bloomberg Talks
Blackstone's Steve Schwarzman Talks the Return of "Animal Spirits" to Markets
Jan 18, 2024
Blackstone CEO Steve Schwarzman predicts interest rate cuts in 2024, signaling the return of 'animal spirits' to the markets. He discusses the importance of AI as core curriculum. The podcast also covers topics such as investment opportunities, liquidity concerns, private equity in 401ks, and economic speculations under a second term President Biden.
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Quick takeaways
- Blackstone CEO Steve Schwarzman predicts interest rate cuts in 2024, signaling the return of 'animal spirits' to the markets.
- Schwarzman emphasizes the importance of embracing AI technology, stating it is no longer an elective but 'core curriculum' across Blackstone's portfolio companies.
Deep dives
Economic Outlook and Investments for 2024
Blackstone CEO, Steve Schwartzman, predicts that 2024 will be a good year for the economy, starting slower but with a positive impact on the stock market. The expectation of interest rate cuts is generating optimism and creating opportunities for investments. Schwartzman highlights different sectors like data centers, energy transition, healthcare, and European real estate as areas with potential for good deals. Additionally, he stresses the importance of embracing AI technology, which has become a core part of the due diligence process across Blackstone's portfolio companies.
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