Christian Mueller-Glissmann, head of asset allocation research at Goldman Sachs, and Alexandra Wilson-Elizondo, co-CIO at Goldman Sachs Asset Management, dive deep into the investment landscape for 2025. They discuss how successful strategies from 2024 may need reevaluation. The conversation highlights the importance of diversification and alternative assets to navigate economic shifts. They also explore the complexities of the bond market and the necessity of hedging strategies like gold and currencies to mitigate risks in today's volatile climate.

In this conversation, Richard Ramsden, the Business Unit Leader of the Financials Group at Goldman Sachs Research, and Alex Blostein, an expert on the asset management industry, delve into the promising landscape for financial services. They discuss the potential recovery in capital markets and the impact of a steepening yield curve. Ramsden highlights how potential regulatory easing under a new administration could shape bank performance, while Blostein explores shifting trends in asset management, including the move towards fixed income and private equity.

Stephan Feldgoise, co-head of global mergers and acquisitions at Goldman Sachs, shares insights on the accelerating pace of deal-making, particularly in energy and healthcare. He discusses how moderating inflation and rate cuts could boost activity by 10% in 2025. Feldgoise also highlights the importance of long-term strategies amid varying regional interests and the role of generative AI in shaping private equity investments. Despite ongoing risks, there's a growing optimism for large transactions as geopolitical obstacles lessen.

Hui Shan, Chief China economist at Goldman Sachs, and Michael Pettis, Professor at Peking University, delve into China's economic landscape. They discuss the nuances of China's policy stimulus and its potential effectiveness against both domestic challenges and external pressures, such as U.S. trade policies. The conversation uncovers shifts towards consumption over infrastructure, critiques of manufacturing subsidies, and the impact of political dynamics, including potential tariffs from the U.S. The experts evaluate if these measures can truly revitalize China's sluggish GDP growth.

Stacy Sonnenberg, Head of Global Sports Finance at Goldman Sachs, and Willow Bay, Dean of the USC Annenberg School of Journalism and owner of Angel City FC, dive deep into the booming world of women's sports. They discuss remarkable growth trends in attendance and viewership, investment opportunities, and the unique traits of the women’s sports audience. Bay shares her experiences leading a top franchise and the cultural shift that’s reshaping perceptions, emphasizing the importance of equity and community engagement in driving future success.

David Mericle, Chief US Economist at Goldman Sachs Research, dives into what investors expect from a potential second Trump administration. He discusses significant concerns over universal tariffs and how these fears influence market pricing. The talk explores investor reactions to recent tariffs on imports and anticipated immigration policies. Additionally, Mericle analyzes sentiments on the 2017 tax cuts and the implications of government spending cuts, all while offering insights into the long-term economic landscape and Federal Reserve projections.

In the third episode of a four-part series on the changing dynamics in the business of sports, host Nicole Pullen Ross discusses the physical fan experience with Greg Carey, Global Co-Head of Sports Investment Banking, and Stacy Sonnenberg, Head of Global Sports Finance. They discuss what’s driving interest in the new sports-entertainment complexes, the creative ways of financing these infrastructure projects, and what it all means for teams and their fans. Nicole is also joined by Gillian Zucker, CEO of Halo Sports and Entertainment and President of Business Operations for the LA Clippers, to discuss how the team intends to make its new home — the Intuit Dome — a “basketball mecca.” Nicole Pullen Ross is Head of Sports and Entertainment for Goldman Sachs Private Wealth Management. She is also Head of the Private Wealth Management business for the New York region at Goldman Sachs.

David Kostin, Chief US equity strategist at Goldman Sachs Research, and Owen Lamont, Senior VP and portfolio manager at Acadian Asset Management, delve into market concentration and investor fears. They discuss how the top 10 S&P 500 stocks dominate the market, potentially leading to lower long-term returns. They also debate whether concerns about volatility and risk are overstated and explore how AI and geopolitical factors might influence future market stability. Their insights challenge the conventional wisdom surrounding concentrated investments.

Jared Cohen, president of global affairs at Goldman Sachs, dives into the profound implications of AI on geopolitics. He discusses the critical role of data center diplomacy and the U.S.'s need for strategic partnerships to maintain its tech leadership. Cohen highlights the limitations of U.S. AI infrastructure and its geopolitical ramifications, while also exploring the evolving dynamics between U.S. companies and Gulf states. The conversation touches on China's ambitious AI strategy and the complexities faced by Middle Eastern nations in fostering partnerships.

Dave Dase, Global Co-Head of Sports Investment Banking, and Gene Sykes, Co-Chair of Mergers and Acquisitions, dive into the shifting tides of sports media. They explore the staggering valuations of sports teams and the fierce competition between traditional broadcasters and tech giants for premium content. The conversation highlights how athletes are leveraging social media to create personal brands and drive social issues. Also on the table is the excitement surrounding the 2028 LA Olympics and the role of technology in transforming fan engagement.