IN THIS ISSUE

• Macro Strategy — New World Order to Power Global Growth Higher In 2026: The new U.S. national security strategy marks a shift from global policing to prioritizing national interests, triggering a geopolitical realignment that is driving regional self-interest, differentiated fiscal and monetary policies, and stronger pro-growth trends.
  
  
• Market View — What We Learned in 2025: The Top Lessons of the Year: 2025 taught five key lessons: Trump 2.0 emphasizes dealmaking and government activism; Corporate America proved resilient with strong earnings growth; China asserted its geoeconomic leverage; the Artificial Intelligence boom is grounded in real fundamentals; and global Equities regained appeal amid a weaker dollar and supportive fiscal and industrial policies.
  
  
• Thought of the Week — A Tale of Three Benchmarks: Small-caps in 2025: Speculative Small-cap stocks dominated late-2025 gains, driven by retail enthusiasm and short covering, but 2026 is likely to bring broader strength supported by earnings growth, rate cuts, and deregulation—making disciplined, fundamentals-focused, diversified exposure essential for investors.​