Episode Summary
Strong markets, shifting narratives, and tougher decisions beneath the surface defined the final quarter of 2025.
In this quarterly edition of The Wealth Exchange, Nicola Wealth Portfolio Manager and Investment Strategist Ben Jang joins host Jasmine Marichic to unpack what powered market resilience last year, and what it means for investors heading into 2026.
Ben breaks down how rate cuts without recession, durable earnings, and an AI-driven capital spending cycle supported equities, while late-year rotation signaled a shift beyond crowded growth trades. He explores how AI is evolving from hype to payoff, why energy has split into two distinct paths, and how tariffs and political change shaped inflation and bond markets.
Looking ahead at this year, the conversation focuses on portfolio positioning in an expensive market - why diversification matters more than ever, how bonds and currencies are behaving differently, and where opportunities may emerge after a strong run.
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The Wealth Exchange
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Disclaimer
This material contains the current opinions of the author, and such opinions are subject to change without notice. This material is distributed for informational purposes only and is not intended to provide legal, accounting, tax or specific investment advice. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice or a recommendation of any particular security, strategy, or investment product. All investments contain risk and may gain or lose value. Please speak to your Nicola Wealth advisor for advice based on your unique circumstances. Nicola Wealth Management Ltd. (Nicola Wealth) is registered as a Portfolio Manager, Exempt Market Dealer and Investment Fund Manager with the required securities commissions.
