Scott Ladner lays out his big picture themes for 2026, arguing for small and mid cap financials will rise on the back of deregulation. He also likes electricity and utilities that support AI infrastructure. He believes AI will create jobs but says speed and timing could create “confusion” within the job market. He argues that the U.S.’s moves around Venezuela are “irrelevant” to the market narrative.

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2026 Big Picture Themes: Electricity, Financials & More