I was just recently thinking about this. What are everyone's thoughts on Goldman's business model? Is it sustainable?
When looking at other BBs on the street, more and more have been moving away from the high-risk ("high-reward") investment banking model on which Goldman is currently succeeding. MS, UBS, and BAML play it safe expanding their PWM, JPM owns the middle market and has Chase etc. I feel like Goldman has maybe been looking into Tech a bit more recently but has not really established a backup for a time when their IB ops could underperform. Am I overlooking something? Genuinely interested in what you are thinking.