Lloyd Blankfein: Lessons from 2008, Identifying the Next Trigger

About this episode

Lloyd Blankfein discusses his experiences in finance, lessons from the 2008 crisis, and insights from his memoir.

Former Goldman Sachs chairman and CEO Lloyd Blankfein joins Wilfred Frost in London for a candid conversation about risk, resilience and what it really takes to survive multiple crises at the very top of global finance. In this episode of The Master Investor Podcast, Lloyd reflects on his journey from the Brooklyn projects to running Wall Street’s most famous firm, why he was initially rejected by Goldman, and how a scrappy commodity trading outfit called J. Aron reshaped the culture of an Ivy League-dominated investment bank – and how Lloyd embodied that transformation. Drawing on stories from his new memoir, Streetwise: Getting To and Through Goldman Sachs, Lloyd explains the trading lessons that truly matter: why the best traders are more like great poker players than economic forecasters (he can “barely predict the present, let alone the future”), know how to play the cards they’re dealt, and are the quickest to adapt to changing situations. He also dives into the long-running tension between traders and investment bankers, why brilliant traders are often underestimated and investment bankers overestimated, and what the financial crisis looked like from the hot seat of one of…

People in this episode

Host: Wilfred Frost

Guest: Lloyd Blankfein

Topics covered

• risk management
• financial crises
• trading strategies
• investment banking
• Private Equity
• resilience

Keywords

• Lloyd Blankfein
• Goldman Sachs
• financial crisis
• trading lessons
• investment banking
• Private Equity
• resilience
• risk

Mentioned in this episode

Organizations: Goldman Sachs, J. Aron

Books & works: Streetwise: Getting To and Through Goldman Sachs

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