Program and guest
Bloomberg Talks interviews Ralph Schlosstein, chairman emeritus of Evercore and co-founder of BlackRock. Original English title: Ralph Schlosstein Talks M&A Outlook After Midterms | Bloomberg Talks. The subtitles cover 0:00–15:54; this article covers the entire interview.
Key points
- The election result was a vote for the political center, checks and balances, and lower volatility. 0:39
- Periods of divided government are often accompanied by compromise and growth; major strategic deals that companies wish to pursue should be advanced within the regulatory window over the next two years. 1:21
- The bond market will ultimately trigger a fiscal adjustment, rather than the bond market itself. 5:54
- The US fiscal trajectory is completely unsustainable and will eventually end, and the ending will be ugly. 6:16
- AI is the biggest development of his career; progress will not stop, only slow down. 11:05
- In 1999, Cisco would have needed to capture 150% of the global router market to justify its valuation, which was clearly impossible. 13:10
Background and notes
This episode of Bloomberg Talks focuses on the M&A outlook after the midterm elections and the fiscal trajectory. The subtitles cover 0:00–15:54; this article covers the entire interview. The views and timestamps are paraphrased from the original subtitles, and each timestamp marks the beginning of the relevant passage.