Trade policy fragmentation, dollar diversification, and the quiet restructuring of supply chains — we examine how 2026's macro shifts are rewriting the rules of portfolio construction for a generation.
Central bank reserve managers have reduced dollar holdings for three consecutive years. No single currency is poised to replace it — but the shift toward gold, RMB, and synthetic alternatives is structural, not cyclical. We speak to five sovereign wealth funds about how they're repositioning in the post-Bretton Woods II order.
Read full analysis →Hyperscalers are committing unprecedented capital. We model the revenue scenarios that justify — or don't — current semiconductor valuations.
With the curve uninverting and inflation persistence above target, T-bills and 2Y Treasuries offer the best risk-adjusted profile in a decade.
The alpha is in mid-cap capital goods names that large institutional flows haven't yet reached. A selective deep-dive into the opportunity.
A near-perfect core holding for long-horizon accumulators. Automatic rebalancing, broad global diversification, and a 0.22% OCF that's hard to compete with. The 80/20 split is appropriate for most pre-retirement investors willing to accept moderate volatility.
The innovation thesis remains intellectually coherent; the execution does not. A 75% drawdown from peak, concentrated positions in pre-profit names, and a fund structure that amplifies retail panic-selling make this unsuitable for risk-aware investors in 2026.
Best-in-class for sophisticated retail and semi-professional investors. Access to 150+ exchanges, institutional margin rates, and a tool suite that outperforms any comparable retail platform. The UX will intimidate beginners — that is by design, and arguably appropriate.