May 17, 2022

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Goldman’s Equities CIO Advises Keeping the Faith on Growth, Tech

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(Bloomberg) — Shares of companies renowned for potentially innovative and disruptive products took a gut punch in the past year, but a senior executive at Goldman Sachs Asset Management has a simple message for investors in them: Keep the faith. 

Katie Koch, chief investment officer for public equities at GSAM, joined the “What Goes Up” podcast this week to discuss the state of play in markets and why, despite share prices that have crashed over the past year, investing in innovative companies is still a good idea for those with enough patience to ride out the market storm.

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Below are lightly edited and condensed highlights of the conversation. Click here to listen to the whole podcast, and subscribe on Apple Podcasts or wherever you listen. 

Q: You manage $20 billion of tech/innovation assets. Yet, so far this year, growth assets have underperformed. How are you thinking about this?

A: We are big believers on investing client capital into the innovation space. I did just want to impress upon something that we’ve been saying for the last several years, which is that we think when people step into these innovation themes, they really need to be committed for the long term. I don’t think any of these things are tactical trades. Generally, I think it’s really tough to time the markets, but I think it’s particularly true in a lot of these high-innovation areas. So I do want to say that it’s strategic, not tactical. 

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The second thing that I would say, is that I do think that the dislocation has been very severe, particularly in public markets. The very…

Bloomberg News

2022-05-14 19:37:29

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