Goldman Sachs CEO David Solomon has crossed the Pacific for the first time in almost two years. You’d think this return to semi-normalcy, striding upon the global stage, might put him in something of a happy, hopeful mood. It has not.
"When I step back and I think about my 40-year career, there have been periods of time when greed has far outpaced fear. We're in one of those periods," Solomon said during an interview at the Bloomberg New Economy Forum in Singapore on Wednesday.
"Generally speaking, my experience says that those periods are not long-lived. Something will rebalance it and bring a little bit more perspective," Solomon added…. "Everyone feels quite smart right now because most of the things you invest in are going up. That's not the way it normally works," he said. "My experience tells me this is a moment in time that's not a sustainable moment."
“Certainly, being restricted in terms of leaving or coming back, the family pressure, etc., that’s not a great dynamic for talent,” Mr. Solomon said [of Hong Kong and China] Wednesday. “That’s certainly a headwind for global talent in that part of the world, right at this moment….”
“I haven’t been to Hong Kong and China, and don’t expect that I’ll be able to go for quite some time,” he said.
American hedge fund manager Ray Dalio is launching a new China fund through a local subsidiary, according to a report in China’s Securities Times, citing sources.
The fund aims to raise more than 3 billion yuan ($468.8 million), according to the report on Tuesday.
Goldman Sachs CEO is worried about excessive market greed [CNN]
Goldman CEO Calls China, Hong Kong Covid-19 Policies a ‘Headwind for Global Talent [WSJ]
Ray Dalio’s Bridgewater is reportedly looking to raise $469 million in new China fund [CNBC]
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