Solomon, CEO of Goldman Sachs: The market is in a "greedy moment" that is difficult to last

Financial Associated Press (Shanghai, editor Shi Zhengcheng) news, local time on Wednesday, Goldman Sachs CEO David Solomon (David Solomon) in the Singapore Innovation Economy Forum publicly raised his concerns about the market prospects of the US stock market.

In an interview, Solomon said that looking back on his 40-year career, he has experienced many moments of "greed far more than fear", just like the state we are in now. His personal experience is that these periods do not last long, and there will always be a rebalancing of the entire market.

Under the influence of the "epidemic release" led by the Central Bank of Europe and the United States, many risk assets have risen in the past year, even setting historical records, and large banks, including Goldman Sachs, have also made a lot of money during this period. Solomon stressed that if subsequent policymakers raise interest rates, the matter alone will cut off some market prosperity.

It is worth mentioning that the theme of the meeting in Asia is naturally inseparable from China. Last month, Goldman Sachs (Gao Hua) passed the approval of the China Securities Regulatory Commission, becoming the second wholly foreign-owned securities firm in China, which also ended the 17-year history of joint ventures. Solomon said on Wednesday that his personal view is that China wants to strengthen its capital markets, including increasing listing activity on the mainland and Hong Kong stock exchanges, and that the involvement of foreign institutions can help achieve this goal, so it is expected to receive sustained support.

According to previous plans, Goldman Sachs plans to double the number of employees in China to 600 in the next few years to strengthen asset management and wealth management business, and as of last month, Goldman Sachs has expanded its enrollment of 116 employees in the mainland during the year.