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Artwork for Exchanges

Exchanges

Goldman Sachs
Goldman Sachs
Inflation
Artificial Intelligence
US Economy
Tariffs
China
Interest Rates
Federal Reserve
Private Equity
Private Credit
United States
Labor Market
U.S. Economy
Recession
Housing Market
Europe
Asset Management
Goldman Sachs Research
Economic Growth
Global Economy

In each episode of "Exchanges," people from the firm share their insights on developments shaping industries, markets and the global economy.

PublishesTwice weeklyEpisodes623Founded12 years ago
Number of ListenersCategory
Business

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Artwork for Exchanges

Latest Episodes

The economics of artificial intelligence are more questionable today than two years ago, says Goldman Sachs Research's Jim Covello, as enterprise buyers, model companies, and hyperscalers have yet to show returns on their spend. In a conversation wit... more

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Advent Co-Chair James Brocklebank explains why complex markets can create opportunities for private equity investors.

This episode was recorded on April 21st, 2026.

The opinions and views expressed herein are as of the date of publication, subject ... more

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The equity story across Asia has split into two very different paths this year, with North Asian markets pulling ahead on the strength of the artificial intelligence trade while remaining more insulated from the energy supply shock tied to the Middle... more

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Technology stocks have staged a formidable rally, elevating innovation from a thematic tilt to a core portfolio driver. Yet this tailwind arrives alongside a recurring challenge — an inflationary environment in which traditional fixed-income hedges h... more

YouTube

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Recent Guests

James Brocklebank
Co-chair of Advent; co-heads European business
Advent
Episode: ‘Complexity is Our Friend’: James Brocklebank on Advent's Private Equity Strategy
Tim Moe
Chief Asia Pacific Regional Equity Strategist and Co-Head of Macro Research in Asia in Goldman Sachs Research
Goldman Sachs
Episode: Can the Asia Equity Rally Continue?
Christian Mueller-Glissmann
Head of Asset Allocation, Goldman Sachs Research
Goldman Sachs
Episode: Innovation and Inflation: Twin Forces Reshaping Portfolios
Alexandra Wilson-Elizondo
Global Co-Head of Multi-Asset Solutions, Goldman Sachs Asset Management
Goldman Sachs
Episode: Innovation and Inflation: Twin Forces Reshaping Portfolios
Howard Marks
Legendary investor
Oaktree Capital Management
Episode: Cracks in Private Credit
Michael Arougheti
Executive in private markets
Ares Management
Episode: Cracks in Private Credit
Amanda Lynam
Chief Credit Strategist
Goldman Sachs Research
Episode: Cracks in Private Credit
Osman Ali
Global co-head of Quantitative Investment Strategies
Goldman Sachs Asset Management
Episode: Will AI Make Markets Less Efficient?
Nicolas Giauque
Managing Partner and Chief Investment Officer, Farallon Capital
Farallon Capital
Episode: Farallon Capital's Nicolas Giauque on Investing for the Long Term

Host

Allison Nathan
Host of Goldman Sachs Exchanges; widely described as guiding conversations and extracting practical insights from senior financial professionals.

Reviews

4.5 out of 5 stars from 2.6k ratings
  • Partially informative

    This is an OK show, but not great because guests get mildly challenged at most, if any.

    Apple Podcasts
    3
    xyz135711
    United States2 months ago
  • Your 2026 outlook is pathetic

    Just look around. Why the rosy propaganda? Garbage

    Apple Podcasts
    1
    Edxs
    Canada5 months ago
  • Good and Getting Better

    I’ve been listening to this podcast for about a year. It’s good and getting better. For a while, they had a second host/interviewer that said simple things in an unnecessarily complicated way. Allison doesn’t do that. Exchanges is at its best when it uses Goldman’s global resources to provide insights from corners of the globe that are not making headlines in the popular financial press.

    Apple Podcasts
    5
    mau5convert
    United States6 months ago
  • Great as market sentiment trackers

    Always listen this while workout, great thanks to the Great Investors series!

    Apple Podcasts
    5
    rexchs
    United States7 months ago
  • GS Exchanges: Great Investors

    Wonderful interviews from Allison Mass and guests.

    Apple Podcasts
    5
    Frederick Aryeetey
    United States10 months ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Listeners praise the host's questioning and the breadth of global coverage.
Guests are often industry leaders with practical, real-world experience.
Content is dense and highly valued by finance professionals seeking deeper analysis.
Audio quality varies; some episodes have challenging listening conditions.
Shows consistently delivers high-caliber guests and insightful market context.

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Apple Podcasts
#135
United States/Business
Apple Podcasts
#36
United Kingdom/Business
Apple Podcasts
#81
Canada/Business
Apple Podcasts
#81
France/Business
Apple Podcasts
#106
Australia/Business
Apple Podcasts
#233
Italy/Business

Talking Points

Recent interactions between the hosts and their guests.

‘Complexity is Our Friend’: James Brocklebank on Advent's Private Equity Strategy
Q: Where are the biggest opportunities for private equity investors now?
Opportunities persist in complexity-driven carve-outs and value-creation opportunities in Europe, with a focus on local presence and sector depth, while exits are slower and require more forward-looking monetization planning and multiple potential buyers.
Can the Asia Equity Rally Continue?
Q: What could be the main risks to the North Asia rally in the near term?
The guest points to potential energy supply shocks and the possibility of a near-term market correction if energy constraints or disruption expectations persist longer than anticipated.
Can the Asia Equity Rally Continue?
Q: How do you see the divergence between onshore and offshore China equities right now?
He explains that onshore A shares benefit from policy support and stronger earnings, while offshore indices lag and face different structural dynamics.
Can the Asia Equity Rally Continue?
Q: What stood out most from the Trump-Xi discussions according to your view?
Tim notes that the key takeaway was that no harm was done, which markets welcomed amid existing geopolitical tensions, providing a calmer backdrop than feared.
Innovation and Inflation: Twin Forces Reshaping Portfolios
Q: Where do you see the most compelling tactical opportunities given the current structural backdrop?
AI remains a key driver, but investors should look for true diversification beyond AI, including real assets like infrastructure, selective energy plays, and strategies that offer convexity and downside protection.

Audience Metrics

Listeners, social reach, demographics and more for this podcast.

Listeners per Episode
Gender Skew
Location
Interests
Professions
Age Range
Household Income
Social Media Reach

Frequently Asked Questions About Exchanges

What is Exchanges about and what kind of topics does it cover?

This series centers on high-level finance, macro strategy, and market dynamics, often grounded in real-world asset allocation debates, liquidity design, and the impact of AI and geopolitics on portfolios. Guests are senior investors, policymakers, and researchers who dissect inflation, energy markets, private credit, and technology-driven shifts, with a strong emphasis on practical frameworks and risk management. A standout trait is the integration of rigorous, data-driven analysis from a top-tier financial institution, coupled with candid conversations about leadership, market structure, and long-horizon investing. Potential listeners will find clear takes on portfolio construction, the evolving role of AI in markets, and the interplay bet... more

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To see how many followers or subscribers Exchanges has on Spotify and other platforms such as Castbox and Podcast Addict, simply upgrade your account. You'll also find viewership figures for their YouTube channel if they have one.

Which podcasts are similar to Exchanges?

These podcasts share a similar audience with Exchanges:

1. The Markets
2. Thoughts on the Market
3. UBS On-Air: Market Moves
4. Making Sense
5. At Any Rate

How many episodes of Exchanges are there?

Exchanges launched 12 years ago and published 623 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

How do I contact Exchanges?

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Rephonic pulls ratings and reviews for Exchanges from multiple sources, including Spotify, Apple Podcasts, Castbox, and Podcast Addict.

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What guests have appeared on Exchanges?

Recent guests on Exchanges include:

1. James Brocklebank
2. Tim Moe
3. Christian Mueller-Glissmann
4. Alexandra Wilson-Elizondo
5. Howard Marks
6. Michael Arougheti
7. Amanda Lynam
8. Osman Ali

To view more recent guests and their details, simply upgrade your Rephonic account. You'll also get access to a typical guest profile to help you decide if the show is worth pitching.

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