This is the exchanges at Goldman Sachs will be discussed developments currently shaping markets, industries, and the global economy.

I'm Jake Stewart, global head of corporate communications here at the firm.

Today, I have the pleasure of talking to Charmian, most of our Ramani, as we always do, this time of year.

She's got a new investment outlook out. as we always do this time of year.

She's got a new investment outlook out called US Resilient.

Charmine is the chief investment officer

for wealth management here at Goldman Sachs.

Charmine, welcome back to the program.

Thank you very much for having me.

So the title of your investment out with this year

is US Resilient.

Explain what you mean by that

and how it serves a strategic framework for investing in 2021.

Jake, as you know, we spend an inordinate amount of time on our cover, whether it's the image that we use or the title that we have because we'd like to have a message that's totally clear for our clients where they can just look at the cover and get the key themes of the message of our whole outlook.

So for 2021, the title is US Resilient

and we have a very strong image.

It is a US flag, so the flag of the United States, embedded in a map of the United States.

And then on top of that, we just have a white graph that shows the performance of the S&P 500 since March of 2009.

So there are three messages that we're trying to convey to our clients with this.

First and foremost, an investment theme that we've now had since the global financial

crisis of US preeminence is alive and well. So in spite of some of the so-called

declineists talking about the decline of the US.

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