A new framework for investing in the post-pandemic world emerges from Goldman Sachs Research, signaling a strategic pivot in how markets may adapt to the disruptions caused by COVID-19. The framework, titled The Great Reset: A Framework for Investing After COVID-19, was introduced in May 2020 and discussed in depth in a subsequent podcast recorded in early June 2020. The material centers on rethinking investment approaches amid a rapidly changing global economy, with a clear emphasis on guiding capital allocation as regions recover and transform in the wake of the pandemic.
The Great Reset: A Framework for Investing After COVID-19
Goldman Sachs Research unveiled a new framework designed to guide investing after the disruptions of the COVID-19 era. The publication, The Great Reset: A Framework for Investing After COVID-19, was released on May 27, 2020, as part of Goldman Sachs’ ongoing research efforts. The purpose of this framework is to provide a structured approach for navigating market dynamics that have been reshaped by the pandemic, including shifts in consumer behavior, supply chains, and economic policy responses.
The framework emphasizes re-evaluating traditional investment paradigms to align with an environment characterized by heightened volatility, uncertain recovery trajectories, and evolving risk factors. It seeks to help investors identify enduring themes and structural changes that may persist beyond the immediate crisis, guiding portfolio construction, risk management, and strategic asset allocation decisions in a post-COVID landscape. The core aim is to offer a lens through which capital can be allocated to sectors and opportunities likely to demonstrate resilience and growth as economies rebuild.
This framework is presented as a contribution from Goldman Sachs Research to the broader conversation about post-pandemic investing. It reflects the firm’s analytical perspective on how macro shocks, policy interventions, industry disruptions, and technological innovations intersect to shape potential investment outcomes. By articulating a structured approach, the framework seeks to assist investors in calibrating expectations, managing risk, and identifying opportunities that may emerge as the world moves from acute crisis management to longer-term recovery.
About the Podcast and its Recording Context
A podcast discussion was conducted to accompany the release of the Great Reset framework, featuring Steve Strongin, who serves as a senior advisor at Goldman Sachs. The recording provides additional context and interpretation of the framework’s ideas, offering listeners a practical perspective on how the framework could be applied in real-world investment decision-making. The podcast serves as an extended dialogue that translates the academic and strategic components of the framework into a narrative suitable for investors seeking insights into post-pandemic markets.
The podcast recording took place on June 1, 2020, approximately a few days after the framework was published. The timing situates the discussion at a moment when markets were actively reassessing the implications of COVID-19 and when investors were seeking clarity on potential paths forward as economies began to reopen and policy measures evolved. The recording aims to complement the written framework by providing a spoken exploration of the themes, implications, and practical considerations that institutions and individual investors might weigh as they navigate the post-COVID environment.
Important Disclaimers and Risk Considerations
A critical element of the podcast and the accompanying framework is the array of explicit disclaimers designed to set expectations for listeners and readers. These caveats reflect standard industry practice in distinguishing research content, commentary, and investment guidance from formal financial advice. Several key points are consistently emphasized to ensure transparency and to manage potential risk for audiences.
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The podcast is not a publication produced by Goldman Sachs Global Investment Research as a formal financial recommendation. While it presents insights derived from Goldman Sachs researchers, the content is not considered a product of formal research output in the sense that it constitutes investment advice or a formal investment recommendation.
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The information discussed in the podcast originates from publicly available sources and has not been independently verified by Goldman Sachs. As such, it may not be current, and readers should be aware that facts cited may be superseded by new data or developments.
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All price references and market forecasts referenced in the podcast are as of the date of recording. Because market conditions can change rapidly, readers should not rely on these figures as current indicators.
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The podcast does not constitute financial, economic, legal, accounting, or tax advice. It should not be construed as a solicitation to buy or sell securities or as a guarantee of future performance.
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The views and opinions expressed in the podcast are not necessarily those of Goldman Sachs. They may differ from the views and opinions of other departments or divisions within Goldman Sachs and its affiliates.
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Goldman Sachs and its affiliates do not provide warranties or representations about the accuracy or completeness of the statements or information contained in the podcast. Any liability for losses arising from the use of the information, whether direct, indirect, or consequential, is disclaimed.
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The receipt of the podcast does not create a client relationship with Goldman Sachs or any of its affiliates. Listeners should consider their own circumstances and consult with a financial professional before making investment decisions.
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The podcast, its content, and its limits are framed to avoid encouraging unauthorized reliance. It is not an offer to buy or sell securities from any Goldman Sachs entity, nor a guarantee of future results.
Contextual Significance for Investors
The emergence of a structured framework for investing after COVID-19 signals Goldman Sachs’ continued effort to guide capital allocation through significant disruption. By articulating a coherent approach to the pandemic-era investment landscape, Goldman Sachs Research aims to help investors:
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Decode the structural shifts triggered by the pandemic, including changes in consumer demand, supply chain resilience, and productivity dynamics.
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Recognize sectors and asset classes that might demonstrate relative resilience or elevated growth potential as economies recuperate and normalize at varying paces.
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Consider how policy responses—monetary, fiscal, and regulatory—could influence the risk-return profile of different investments during the recovery phase.
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Manage risk exposures in a market environment characterized by heightened volatility, uncertainty about the speed and sustainability of recovery, and evolving geopolitical and macroeconomic conditions.
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Align long-term investment strategies with a framework that accounts for potential long-lasting changes in behavior, technology adoption, and competitive dynamics that emerged during the pandemic era.
The Great Reset framework, in conjunction with the accompanying podcast, reflects Goldman Sachs’ broader approach to bridging research with practical insights for investors seeking to navigate a post-COVID world. It underscores the importance of staying informed about evolving market dynamics, reassessing assumptions, and maintaining a disciplined approach to asset allocation in the face of ongoing uncertainty.
Practical Takeaways for Readers and Investors
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Seek a structured, framework-driven view of investment opportunities and risks in a post-pandemic environment. A formal framework can help organize thinking, reduce bias, and improve decision-making under uncertainty.
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Distinguish between enduring structural changes and temporary fluctuations. Investments aligned with enduring shifts—such as digital adoption, healthcare innovations, and resilient logistics—may offer more sustained opportunities than those tied solely to short-term trends.
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Maintain awareness of official caveats when consuming research and media content. Recognize that public discussions and podcasts complement formal research but do not replace individualized financial advice tailored to personal circumstances.
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Monitor policy developments and macroeconomic signals that could influence asset classes differently across regions and sectors. A framework that considers policy trajectories alongside market dynamics can support more robust portfolio construction.
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Use caution with forecasts and data, especially when they are anchored to a specific date. Markets evolve rapidly, and updates or revisions to analyses can alter risk assessments and outlooks.
Conclusion
The Great Reset: A Framework for Investing After COVID-19 represents Goldman Sachs Research’s attempt to provide a structured lens for navigating the investment landscape shaped by the COVID-19 pandemic. Accompanying this framework is a podcast featuring Steve Strongin, recorded shortly after the framework’s release, offering additional interpretation for practitioners and investors. The accompanying disclaimers emphasize that the content is not a substitute for formal financial advice, is not a product of Goldman Sachs Global Investment Research, and should be understood in the context of publicly available information that may not be current. Together, the framework and the discussion underscore a careful, framework-driven approach to investing in a world where post-pandemic realities continue to unfold, and where disciplined analysis, risk awareness, and prudent capital allocation remain essential components of investment strategy.
