What will the second half of the year bring for markets and how should investors position now?
I'm Alyssa Nathan and this is Goldman Sachs Exchanges.
I'm joined once again by Christian Mueller-Glissman,
who heads asset allocation research in Goldman Sachs Research,
and by Alexandra Wilson-Elizondo,
Co-Chief Investment Officer of the Multi-Asset Solutions business in Goldman Sachs Asset Management.
For a change,
I am in London this week and Christian and I are both in the London office and Alexandra is joining from our New York studio.
This has become a biannual event and I'm looking forward to our conversation.
Yeah, great to have you in London.
Thanks so much for having us.
So let's get started.
Christian and Alexandra, when we last spoke in January,
you both emphasized that investors should really be thinking about diversifying away from the mega cap U.S. tech companies that everyone was so focused on.
into different stocks, different assets, even different geographies.
And that's turned out to be a pretty good strategy if you look back to the first half of the year.
But there's been a lot of unexpected shifts in terms of US policy, in terms of the economy.
And given those unexpected shifts, what has surprised you most about the market reaction to them?
Christian, maybe you can kick us off.
Yeah, no, I think you're absolutely right.