Goldman Sachs Group, Inc. (The) (NYSE: GS) – Lessons from the first SALT New York conference on finance, technology and geopolitics

Why should I go?

This is the question some were probably wondering as SkyBridge Capital, a global investment firm, sought to bring together thousands of the world’s most prominent investors and thought leaders for three days of collaboration and networking. high level.

Let’s answer the question with some key lessons from New York’s first SALT event.

The context: Founded in 2009, SALT events are the convergence of asset managers and owners, entrepreneurs, investment advisers and policy experts.

Designed to educate attendees on the topics most understood by world leaders and renowned fund managers, SALT also provides the opportunity to network with companies and individuals who impact the way the world works and lives.

The event is not all business though. Participants enjoy a high class dinner and entertainment with afterparties hosting exceptional talents, musicians, and more.

NY 2021: Founder of SkyBridge Capital Antoine Scaramucci, former Trump White House communications director and Goldman Sachs Group Inc (NASDAQ: GS), hosted SALT NY 2021 (September 13-15), one of New York City’s first major events at the newly renovated Jacob K. Javits Convention Center.

It was New York’s first SALT event; 10 times before, the Bellagio Hotel in Las Vegas – famous for its exotic parties, concerts and dinners – was the venue.

“Our goal has always been to empower big, important ideas and foster a community to tackle common challenges,” Scaramucci told Reuters ahead of the event.

“We are also bringing SALT to New York for the first time to help spur revitalization efforts in the city, and we want to show leadership in returning to a semblance of normalcy while maintaining a safe environment for our participants.”

Despite a worrying resurgence of the coronavirus, the flagship Wall Street conference saw record attendance, running out of food and seats for its nearly 2,300 vaccinated delegates and speakers.

In large rooms, famous investors, businessmen and politicians like Steven cohen, Jon Najarian, Kevin o’leary, Catherine Bois, Sam Bankman-Fried, John kelly and Jeb bush talked about everything from the implications of innovation to immigration, equality and regulatory developments.

Halfway through, SALT hosted The Chainsmokers at Marquee New York, among other more private events.

Lessons from SALT: While there are too many lessons to share, we’re targeting a few, starting with the one offered by a panel featuring Cohen from Point72, Ilana Weinstein of the IDW Group, Dmitry Balyasny of Balyasny Asset Management and Mike rockefeller by Woodline Partners.

“If you can’t remember anything else, talent is everything.”

This is according to Weinstein, who said that human capital is as important as financial capital. The reason is, you can’t generate alpha if your business doesn’t have the means to attract and retain the best and the brightest.

In a conversation between André Sorkin from CNBC and Wood from ARK Invest, SALT attendees heard a different take on the inflation debate.

Wood argued that market forces make the world highly deflationary: for example, with new technologies, she said costs go down as demand rises. Alternatively, there is the potential for creative destruction as well as cyclical deflation.

“The bull market will not end at least … until the number of millennials has peaked”, said Bois.

In a talk on why diversity can work better, Rupal bhansali Ariel Investments discussed emerging themes regarding market structure and factor investing.

“Ignorance is not happiness. It is the loss “, she said.

In another discussion, David Rubenstein of the Carlyle group and Jeff blau related companies talked about private equity and real estate.

The takeaway from this conversation is that aside from the fact that private equity is kind of a very successful outsider, it’s hard to proclaim the existence of a bubble.

“You never know you’re in a bubble until it’s over” Rubenstein said in a rationale for high ratings; COVID-19, among others, has caused a massive transformation in the way people live and work.

Plus, both sides of the equation – the business and the investor – are better experienced at dealing with downsides, he said.

“The industry has so much more talent to make these businesses work.”

SALT takeaways: In addition to the aforementioned perspectives, key conference themes include cryptocurrency, inclusiveness, and talent.

The world is changing; individuals and businesses are inclined to partner with more diverse and effective technologies and talented people.

As Ksenija Pavlovic from Pavlovic Today summed up: “SALT sparked the conversation about crypto. SALT spoke about Afghanistan. SALT partied with Chainsmokers at Marquee. New York, America’s engine, is operational.

“The American dream is still alive.

To learn more about SALT events, click here.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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