Jan 11 2023 49 mins
Episode Summary:
The first week of 2023 is full of surprises and turns for business and finance, with Saudi Arabia and China announcing new Chinese Yuan crude oil deals, Goldman Sachs announcing sweeping layoffs and the economy signaling layoffs is finally coming to non-tech sectors.
Co-host Soham and George also take a look at the Blackstone Real Estate fund BREITs crisis, and how they had to be bailed out by the University of California to ‘stay afloat’.
Hedge funds however had a great year, with Ken Griffin’s Citadel earning $28 billion in revenue in 2022. We also discussed our bullish and bearish stocks in 2023.
Have a great week and if you are available, please give us a 5-star rating to keep our momentum going!
Episode timeline:
(00:37) Layoffs extend into other parts of the economy with Goldman Sachs layoffs
(06:44) Why are consumer behaviors still strong when the economy is going downhill?
(08:07) The Blackstone Real Estate crisis and why commercial real estate is failing
(19:06) Our real estate predictions into 2023
(22:39) Ken Griffin’s hedge fund made $28 billion in revenue in 2022, why?
(27:31) Saudi Arabia’s new Chinese Yuan crude oil deal with China: the end of USD world dominance?
(37:37) Stocks we are bullish and bearish on in 2023
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