I recently finished translating the 2026 investment report from a top Wall Street asset management institution. I went through all 18 pages three times, and there are some thoughts I have to write down.

Although stablecoins were only briefly mentioned, the entire macro logic, AI sector analysis, and asset allocation strategies are extremely valuable references for those of us focused on digital assets. Where traditional capital isn’t optimistic usually hides opportunities; the directions they are heavily invested in are also worth our attention.

Let’s get straight to the point—how do they see 2026?
In a nutshell: AI remains the absolute star, increase allocation to US stocks, pay attention to Japanese stocks, reduce exposure to long-term US bonds, and gold? Only suitable for short-term trading, don’t expect to hold it long-term.

Why won’t AI die out by 2026?
The key is the phase has changed. Now it’s not just about storytelling; it's the stage where real money is pouring in. Compute centers, data infrastructure, energy support—all are heavy assets requiring upfront investment, with intimidatingly long payback periods. Tech giants are issuing crazy amounts of debt to fill funding gaps, corporate leverage is soaring, and even real interest rates are being pushed higher.

This round is unlike any previous technological revolution.
Over the past 150 years, whether it was the steam engine, electricity, or the internet, none managed to lift the long-term US GDP growth rate from 2% to above 3%. But AI might. Why? Because it’s not just a tool—it’s an “innovation accelerator” that can trigger breakthroughs in drug development, materials science, and energy technology.

Their stance is very clear: short