As we move into 2026, we remain cautiously optimistic. The capex boom in AI and the transition to a more balanced global interest rate environment provide a solid foundation. However, we are watching labor market cooling and rising consumer debt loads closely.

Values-oriented investing, through the S.E.E. framework, is simply the next evolution of Smart Investing.

Investing in nature is about building long-term resilience, mitigating systemic risks, and tapping into the significant opportunities presented by the transition to a nature-positive economy.

Overall, the combination of resilient corporate performance and the perceived benefit of monetary easing drove the U.S. stock market higher.