Only two events have mattered in my 30 years of investing
Markets have shrugged off everything from geopolitics to financial crises
Markets have shrugged off everything from geopolitics to financial crises

But it relies on a host of rosy assumptions going in investors’ favour

We are living in a ‘barbell’ world where international threat meets technological opportunity

Investors risk being too complacent about war in the Middle East

Plus, the global won

The defining market themes of 2025

The sector remains untested in a severe or prolonged economic downturn