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Why Do Smaller Companies Receive Higher Valuations for New Initiatives?

Exchanges at Goldman Sachs
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Whats It Really Like to Be a Goldman Sachs Intern?

Exchanges at Goldman Sachs
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6 months ago

Tech in Europe: Innovating Amidst Constraints

Exchanges at Goldman Sachs
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1 year ago

Talent and Technology: What's Driving Poland's Growth

Exchanges at Goldman Sachs
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The Scene from China: VC and Tech Reach New Scale

Exchanges at Goldman Sachs
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1 year ago

Europe's Energy Evolution

Exchanges at Goldman Sachs
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1 year ago

Tech Talk 2019

Exchanges at Goldman Sachs
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Why Does Goldman Sachs President and COO John Waldron View Himself as COO First and President Second?

Exchanges at Goldman Sachs
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Goldman Sachs and the 1MDB Scandal

The Journal.
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2 months ago

Goldman Sachs CFO Stephen Scherr Recaps the Firms First-Ever Investor Day

Exchanges at Goldman Sachs
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Whats on David Solomons Mind as He Enters Year Two as CEO?

Exchanges at Goldman Sachs
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6 months ago
Exchanges at Goldman Sachs

Automatic TRANSCRIPT

In this episode, Steve Strongin of Goldman Sachs Research discusses a new report from Goldman Sachs' Global Markets Institute, titled "What the Market Pays For." One of the main findings is that equity investors tend to pay for persistence or what is sometimes called "visibility." Strongin also discusses why large corporations often feel that they aren't rewarded for innovation the way small firms are. The reason for this, Strongin explains, is how the market perceives the "deep pocket risk" involved. Investors worry that large firms may overspend on failing projects because they have the resources to do so. Smaller companies, however, don't have as much money to be able to do the same. Strongin also discusses how corporate reporting can be managed to improve firms' valuations. <br><br> This podcast was recorded on May 1, 2019. <br><br><i> All price references and market forecasts correspond to the date of this recording. This podcast should not be copied, distributed, published or reproduced, in whole or in part. The information contained in this podcast does not constitute research or a recommendation from any Goldman Sachs entity to the listener. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty, as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefor (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed. The views expressed in this podcast are not necessarily those of Goldman Sachs, and Goldman Sachs is not providing any financial, economic, legal, accounting or tax advice or recommendations in this podcast. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by Goldman Sachs to that listener, nor to constitute such person a client of any Goldman Sachs entity. <br><br> Copyright 2019 Goldman Sachs & Co. LLC. All rights reserved.</i>