高盛：2025年高盛投资研究的历史脉络报告（英文版）

The origin story. Goldman Sachsí earliest research efforts started in the 1930s but were limited to servicing internal stakeholders. In the 1950s, research ìspecialistsî broadened their scope, producing periodic reports for dealers and brokers and offering clients insights across various industries, sectors and companies upon request. A decade later, Goldman Sachs organized its Vrst formal research efforts with the same foundational attributes that characterized the rest of the Vrm ñ an entre