Mid-Year Scorecard: Assessing Our Solving For 2026 Calls
About this episode
The episode provides a mid-year assessment of investment themes set for 2026 amidst changing macroeconomic conditions.
At the end of last year, Neuberger's investment leaders laid out five themes to guide investors through 2026. Since then, a regional war in the Middle East and a global oil shock have reshaped the macro landscape — testing some calls while reinforcing others. Policy divergence has exploded wider. The AI buildout has accelerated beyond expectations. And markets are navigating a frothier, more dispersed environment heading into the second half. On this episode of Disruptive Forces, host Anu Rajakumar is joined by Shannon Saccocia, Chief Investment Officer, Wealth, and Jeff Blazek, Co-Chief Investment Officer, Multi-Asset, for a candid mid-year assessment. Together, they discuss: Why the policy divergence call earned top marks, and how a new Fed chair complicates the outlook How AI spending surpassed even bullish expectations, with hyperscaler CapEx now exceeding $800 billion What went wrong with the long-rates thesis and why not all duration is created equal Where equity broadening is showing up (and where it isn't) Why being a liquidity provider in private markets continues to be rewarded How investors should think about dispersion, discipline, and positioning for the second half…
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