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January 2017 HOUSE_OVERSIGHT_014532 --- PAGE BREAK --- Sharmin Mossavar-Rahmani Chief Investment Officer Investment Strategy Group Goldman Sachs Brett Nelson Head of Tactical Asset Allocation Investment Strategy Group Goldman Sachs Additional Contributors from the Investment Strategy Group: Matthew Weir
Page: HOUSE_OVERSIGHT_014533 →isis highs. % 700 639 600 500 + 400 300 + 1951 1959 1967 1975 1983 1991 1999 2007 2015 Data through 03 2016. Source: Investment Strategy Group, Datastream. The anemic (but steady) pace of this recovery has fueled a debate about its causes. The theories fall into six categories: e A “hangover” from the
Page: HOUSE_OVERSIGHT_014542 →Sunday Night Insight October 14, 2018 The Unsteady Undertow Commands the Seas (Temporarily) ——— Sharmin Mossavar-Rahmani Chief Investment Officer Brett Nelson Head of Tactical Asset Allocation Maziar Minovi Managing Director Andrew Dubinsky Vice President Michael Murdoch Vice President Mary Rich Vice Pre
Page: HOUSE_OVERSIGHT_026894 →ients maintain their strategic allocation to US equities. HOUSE_OVERSIGHT_026905 --- PAGE BREAK --- Sources: Investment Strategy Group, Bloomberg, Datastream, Goldman Sachs Global Investment Research, Haver. Endnotes: (1) Kate Davidson and Sarah Chaney, “Fed Chair Powell Sees ‘Remarkably Positive Set of E
Page: HOUSE_OVERSIGHT_026906 →2018 The Unsteady Undertow Commands the Seas (Temporarily) ~F oread--~ - = - ba ~~ = = ! ." Sharmin Mossavar-Rahmani Chief Investment Officer Brett Nelson Head of Tactical Asset Allocation Maziar Minovi Managing Director Andrew Dubinsky Vice President Michael Murdoch Vice President Mary Rich Vice Pre
Page: HOUSE_OVERSIGHT_026909 →ation to US equities. HOUSE_OVERSIGHT_026920 --- PAGE BREAK --- Sources: Investment Strategy Group, Bank for International Settlements, Bloomberg, Datastream, Goldman Sachs Global Investment Research, Haver, International Monetary Fund, Teneo Intelligence. Endnotes: (1) Kate Davidson and Sarah Chaney, “F
Page: HOUSE_OVERSIGHT_026921 →Entities connected to both Datastream and Brett Nelson

Chile
LOCATION
United Kingdom
LOCATION
Donald Trump
PERSONthe Dubai Financial Services Authority
ORGANIZATIONthe Prudential Regulation Authority
ORGANIZATION
United Arab Emirates
LOCATION
the European Commission
ORGANIZATIONThe Monetary Authority of Singapore
ORGANIZATION
European Union
ORGANIZATION
Marc Rich
PERSON
Goldman Sachs International
ORGANIZATION
Philippines
LOCATION
Malaysia
LOCATION
Seoul
LOCATION
Michael Bloomberg
PERSON
Goldman Sachs
ORGANIZATION
Federal Reserve
ORGANIZATION
Rupert Murdoch
PERSON
Nigeria
LOCATIONthe Investment Management Division
ORGANIZATION