Liz Hoffman
speaker
299 appearances
5 recordings
1 series
first heard Aug 2017
last heard Aug 2020
Liz Hoffman’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsNo recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.
Appearances
Post-crisis, banks' proprietary trading desks, which were good clients of Goldman, they got shut down or spun off.
Hedge funds have had a really tough year or two in terms of performance.
They've got outflows.
If you are a hedge fund manager and you wake up every day worried that your clients are going to pull money, you're not going to go to Goldman and say, hey, I want a 10-year swap on the Japanese yen.
It doesn't make any sense.
The demand for the things they're really good at is drying up.
The criticism is that they probably haven't moved quickly enough to other places where the demand is stronger.
Things that are just simpler.
It's not quite that simple, but the easiest way to think about it is these huge commercial banks, J.P.
Morgan and Citi, they have these massive scale, they're like a Walmart, right?
You can go there, you can get anything.
And they can sell it, they can produce it cheaply, they can sell it cheaply, they have distribution, they've got scale.
Goldman is much more like, I live in Brooklyn, like an Italian tailor in Brooklyn, right?
They're making these things one at a time, they're putting a lot of care into them.
But that costs money.
The overhead's expensive, and the customers have to show up.
Otherwise, you have these things sitting on the rack, and there's a carrying cost to that.
They're really expensive.
It is on a bit of a charm offensive.
Including with PIMCO.
Showing 241–260 of 299 · page 13 of 15
← Previous
Next →