Asks how Blankfein would manage risk from Iran war given his risk management background.
David Westin
Lloyd Blankfein
Iran war likely temporary market disruption; oil prices will be affected but markets will revert to pre-war anxieties.
Asks about best/worst case outcomes from Iran conflict.
David Westin
Lloyd Blankfein
Geopolitically important but less so for markets; base case remains positive with GDP growth, inflation improving, rates coming down, and fiscal/AI stimulus.
Asks if risk management changes in late cycle.
David Westin
Lloyd Blankfein
We are late cycle; lack of discipline due to long period without reckoning since 2008; low rates led to undisciplined investments.
Asks about globalization retreat and multipolar world risks.
David Westin
Lloyd Blankfein
World less integrated than thought; supply chains and national security now prioritize domestic sourcing.
Asks lessons from tech bubble for current AI investment boom.
David Westin
Lloyd Blankfein
AI is good bet; hyperscalers have founders' skin in the game; some investments will be wasted but necessary experimentation.
Asks about private credit risks given illiquidity and opacity.
David Westin
Lloyd Blankfein
Private credit is riskier due to illiquidity; expansion into retail space is concerning late cycle.