Goldman's Kostin: Opportunities in US on Value Side

The video discusses the return of alpha in 2023, emphasizing a shift from macro-driven market returns to stock picking. It highlights opportunities in value investing, particularly in energy and healthcare sectors, due to their earnings potential. The discussion also covers the equity risk premium, market valuation, and the competitive returns of cash compared to equities, with a focus on stable growth and valuation trends.

What is the expected shift in market returns for 2023 compared to the previous year?

• From value-driven to growth-driven

• From macro-driven to individual-driven

• From growth-driven to value-driven

• From individual-driven to macro-driven

Which sectors are identified as having potential opportunities in active management?

• Technology and Finance

• Real Estate and Industrials

• Consumer Goods and Utilities

• Healthcare and Energy

What is a major concern regarding market valuation according to the transcript?

• High levels of valuation

• Decreasing levels of valuation

• Stable levels of valuation

• Low levels of valuation

How do changes in interest rates affect equity performance?

• Equities remain stable as rates rise

• Equities are unaffected by rate changes

• Equities rise as rates rise

• Equities fall as rates rise

What is the competitive advantage of cash returns compared to equities?

• Lower volatility

• Higher volatility

• Lower yield

• Higher risk