The rise of AI fueled the markets for a year, but in 2026, turbulence has investors shifting to “old school” stocks and anti-AI themes like emerging markets. Secular uncertainty arises from global trade wars, US consumer stress, and debt concerns. Success now requires a detailed approach, focusing on specific opportunities rather than broad themes.

Geo-economics and AI’s impact add complexity to economic decisions. Success now requires a more detailed approach, looking for places where markets are incomplete or broken. Private credit in emerging markets offers opportunities similar to the US market 15 years ago, with viable companies lacking capital. In volatile markets, high-quality assets can be acquired at a discount amid “fire sales.”

In a market filled with uncertainty, a granular approach is needed. Instead of broad themes, focus on specific opportunities like private credit in emerging markets. With markets becoming highly volatile, quality assets can be acquired at a discount during “fire sales.”

Read more at Yahoo Finance: Rotation isn’t the answer to the tech uncertainty