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Published Jan 20, 2025

The TikTok Showdown, UnitedHealth’s First Earnings Post-Shooting, & a Banking Boom | Prof G Markets

Ed Elson and Scott Galloway delve into the ramifications of a possible TikTok ban, its influence on social media and geopolitics, explore healthcare's costly profit-driven model with ideas for reform, and discuss the banking sector's booming M&A activities and strong earnings driven by robust trading and investment banking.
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  • M&A Surge

    The recent surge in merger and acquisition (M&A) activities and trading volumes has significantly impacted the banking sector. highlights that investment banking revenues have increased due to more deal-making, confirming that M&A is making a comeback 1. This resurgence is driven by narratives and market dynamics, particularly following the election, which sparked new investment theses and trading activities 1. adds that banks benefit from these market conditions, although he cautions that such levels of activity may not persist 2.

       

    Bank Profits

    Fourth-quarter earnings for major banks like Citigroup, Goldman Sachs, and JP Morgan have exceeded expectations, showcasing strong profitability. notes that JP Morgan reported the largest annual profit in U.S. banking history, with investment banking being a key growth driver 3. attributes this success to market volatility and the resurgence of M&A activities 3. He humorously imagines the pressure on UnitedHealth's CEO to downplay their financial success during earnings calls, given the sensitive context of recent events 4.

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