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Beyoncé Is the Key to Being Recession-Proof, Goldman’s Koch Says

The CIO says the live-concert industry, and maybe a few others, is built to withstand a downturn.

Katie Koch

Katie Koch

Photographer: Eva Marie Uzcategui/Bloomberg

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As the Fed’s efforts to tame inflation roil both stocks and bonds, investors are struggling to figure out the best way to play defense in markets where some are concerned a recession may be on the horizon. One of the top executives at Goldman Sachs Asset Management has a surprising idea on how to do that: Beyoncé.

Katie Koch, the chief investment officer for public equities at GSAM, joins this week’s episode of “What Goes Up” to discuss the state of play in markets and why—despite share prices that have crashed over the past year—investing in innovative companies is still a good idea for the long term. But Koch also discusses why she thinks Beyoncé, like other popular artists, “is ultimately recession-resistant,” and how the portfolios she helps oversee own shares of live-concert companies in the U.S. and Europe.