IN THIS ISSUE

• Macro Strategy — Geopolitics by Personality: Investment Strategies for a 3-P World: The long‑standing, rules‑based global order has shifted where personal decisions increasingly shape geopolitics, economics, and market dynamics—making diversified, resilient investing more essential than ever.
  
  
• Market View — Consider Volatility the Cost of Admission: Equity markets briefly sold off as renewed geopolitical and trade tensions broke a long stretch of calm, but the underlying drivers of the bull market remain supportive.
  
  
• Thought of the Week — Renewables Recharged: What Drove the Comeback in 2025?: Global clean‑energy Equities rebounded strongly in 2025 despite negative U.S. headlines, and while 2026 brings both momentum and risks, we believe renewables remain a meaningful, under-owned element of long-term power demand trends.​