Core Viewpoint - Investors are evaluating Goldman Sachs (GS) and Tradeweb Markets (TW) to determine which stock represents a better value opportunity in the financial investment banking sector [1]. Valuation Metrics - GS has a forward P/E ratio of 15.88, while TW has a significantly higher forward P/E of 31.99 [5]. - The PEG ratio for GS is 1.41, indicating a more favorable valuation compared to TW's PEG ratio of 2.06 [5]. - GS's P/B ratio stands at 1.86, compared to TW's P/B ratio of 3.83, further highlighting GS's relative undervaluation [6]. Analyst Outlook - GS currently holds a Zacks Rank of 2 (Buy), reflecting an improving earnings estimate revision trend, while TW has a Zacks Rank of 4 (Sell) [3]. - The positive earnings outlook for GS positions it as a superior value option compared to TW [7].

Major US banks, including JPMorgan Chase, Bank of America and Goldman Sachs, are reportedly refusing to lend Argentina $20 billion without explicit assurances or collateral, according to The Wall Street Journal. The reluctance highlights the difficulties fending off attempts to stabilise the South American nation's finances as its economy falters and relations with foreign lenders ...

Three back-to-back violent incidents in the space of 10 months have awakened a new reckoning in corporate security that is fundamentally altering the way companies protect their executives, data from a new Goldman Sachs Ayco report found. The shocking New York City murder of UnitedHealthcare CEO Brian Thompson in December 2024 was followed by a July Midtown Manhattan shooting that claimed the lives of two security guards and two executives at Blackstone and Rudin Management. Last month, a lone gunman alle ...

Core Viewpoint - A J.P. Morgan analyst has downgraded Goldman Sachs from overweight to neutral, indicating that Barclays and Deutsche Bank present more potential upside opportunities [1] Company Summary - Goldman Sachs has been downgraded, reflecting a shift in investment sentiment towards other banks [1] - The analyst's assessment suggests a comparative analysis where Barclays and Deutsche Bank are viewed as more favorable investments at this time [1]

Upgrades - BofA upgraded Eversource (ES) to Buy from Neutral with a price target of $85, up from $73, citing an "improving regulatory tone" and a projected 6% EPS growth through 2029 [2] - Leerink upgraded Exelixis (EXEL) to Outperform from Market Perform with a price target of $48, up from $38, following the Phase 3 STELLAR-303 trial results, which established important levers for long-term investment despite a 12% stock decline [3] - Citi upgraded Nextracker (NXT) to Buy from Neutral with a price target of $114, up from $66, highlighting its dominant position in tracker sales and potential revenue contributions from acquired businesses by FY30 [4] - Citi upgraded Sunrun (RUN) to Buy from Neutral with a price target of $26, up from $11, noting benefits from rising electricity rates and increased leverage over suppliers due to market shifts [5] - Raymond James upgraded Capri Holdings (CPRI) to Outperform from Market Perform with a price target of $25, indicating a favorable turnaround position supported by improving demand and conservative guidance [6] Downgrades - JPMorgan downgraded Goldman Sachs (GS) to Neutral from Overweight with a price target of $750, up from $625, citing high current valuations compared to European investment banks [7] - BNP Paribas Exane downgraded Verizon (VZ) to Neutral from Outperform with a price target of $44, raising concerns about strategic direction following a recent CEO change [7] - BNP Paribas Exane downgraded NuScale Power (SMR) to Underperform from Neutral with a price target of $25, down from $41, due to concerns over cumulative shipments and financial commitments [7] - Citi downgraded NuScale to Sell from Neutral with a price target of $37.50, down from $46, highlighting potential sales by Fluor and stretched valuations [7] - TD Cowen downgraded Tempus AI (TEM) to Hold from Buy with a price target of $88, up from $72, viewing the stock as fairly valued after a significant rally [7] - Wells Fargo downgraded Cleveland-Cliffs (CLF) to Underweight from Equal Weight with an unchanged price target of $11, describing the recent stock rally as "excess exuberance" [7]

David Solomon, Goldman Sachs chairman and CEO, joins 'Squawk Box' to discuss the evolution of alternative assets, his thoughts on corporate results, regional banks and credit concerns, impact of AI boom, M&A outlook, and more. ...

There there was a lot of talk of bubbles just over the last week. Uh bubbles in AI, bubbles in markets. You don't particularly like that term.It's not one you want to use yourself. >> Yeah. You know, I don't I don't I don't like to be, you know, overdramatic.>> Bubble and bubbles. >> Um you know, I've been looking at tech multiples and trying to put tech multiples in a historical context. You know, I've looked at um a variety of datas, a variety of data on public company tech multiples and you know, also pr ...

Alternative Assets and Market Trends - Goldman Sachs 的 CEO David Solomon 讨论了另类资产的演变 [1] - 讨论了 AI 繁荣的影响 [1] - 讨论了并购前景 [1] Financial Performance and Concerns - 讨论了公司业绩 [1] - 讨论了区域性银行和信贷问题 [1]

Core Insights - Goldman Sachs is hosting its 24th annual alternative summit, featuring prominent figures from various sectors, indicating the growing importance of alternative assets in the financial landscape [1][2]. Group 1: Alternative Assets Overview - The alternative assets sector has seen significant growth, with Goldman Sachs managing over $500 billion in alternatives across private equity, private credit, infrastructure, and real estate [4]. - The private capital formation is still in its early stages, suggesting potential for further growth and development in the market [5]. - The U.S. capital markets are highlighted as the most robust globally, with a strong private capital formation ecosystem that supports economic strength [6][7]. Group 2: Access and Investment Considerations - Historically, alternative investments have been limited to wealthier investors due to their illiquid nature, but there is a push for broader access to these products [7][11]. - Investors are encouraged to consider their liquidity needs and time horizons when investing in alternatives, with suggestions of a 20-25% allocation in retirement accounts for long-term investors [10][23]. - The discussion around the transparency and valuation of private assets is crucial as these products become more integrated into public markets, raising questions about the need for independent verification [14][15]. Group 3: Market Dynamics and Valuation - The valuation of private equity assets has been slower due to discrepancies between marked values and actual market conditions, particularly following the market fluctuations in 2020 and 2021 [16][22]. - The industry perspective suggests that maintaining different valuations for private assets compared to public markets is a feature rather than a bug, emphasizing the unique nature of private investments [17]. - The importance of marking assets accurately for liquidity options is highlighted, as it affects the value delivered to investors seeking liquidity [19].

Group 1 - The recent rebound in the US stock market is primarily driven by short sellers being forced to cover their positions, rather than a genuine recovery in market fundamentals [1][2] - Goldman Sachs' index of heavily shorted stocks has surged by 16% this month, significantly outperforming the S&P 500's 0.7% increase, indicating a potential "squeeze" effect on short sellers [1][2] - Investor sentiment is shifting towards caution, as evidenced by traders selling call options to raise funds for downside protection, contrasting with earlier concerns about missing out on gains [2][3] Group 2 - Both discretionary and systematic traders are reducing their exposure to US equities, with discretionary fund managers moving from a "neutral" to a "significantly underweight" position [3][4] - Systematic traders, particularly trend-following funds, have also decreased their stock positions to the lowest level in over three months, indicating a cautious approach [3][4] - The speculative fervor in the market is not limited to heavily shorted stocks but is also evident in other high-risk areas, raising concerns about market fragility [5]