As 2026 begins, families are weighing two forces at the same time. The economic data still looks constructive, while headlines and geopolitical uncertainty can make the market feel less steady day to day.

In Part 1 of this two-part episode of The Wealth Enterprise Briefing, Managing Partner Michael Zeuner and Global Head of Macro Sam Sudame talk about how WE separates fundamentals from sentiment, and why that distinction matters when building and maintaining a long-term portfolio.

They discuss:

Why sentiment moves markets short term, while earnings and dividends matter longer term
Why Sam sees U.S. fundamentals as strong entering 2026
What could shift the outlook: weaker jobs, softer spending or slowing AI capex
Why productivity matters for margins and inflation
How geopolitics can rattle markets without changing the economic base
Why global investors have used gold as a hedge during uncertainty

In Part 2, Michael and Sam will continue the conversation and explore what these themes could mean for investors.

If you would like to discuss what these themes may mean for your portfolio, please contact us; we're here to help.

Important Information:

The Wealth Enterprise Briefing contains our current opinions and commentary, which are subject to change without notice. The Briefing is distributed for informational and educational purposes only and does not consider the specific investment objective, financial situation or particular needs of any recipient. Information contained herein has been obtained from sources we believe to be reliable, but we do not guarantee its completeness or accuracy. The information in the Briefing is not a recommendation of any security, and should not be relied upon as investment, legal or tax advice. Please consult with your investment, legal and tax advisors regarding any implications of the information presented in this presentation.

How Should Investors Separate Fundamentals From Sentiment in 2026?