Article last updated 16 December 2025.
In this video, Ed predicts a strong year for stock markets – with no more risk of a meltdown than a ‘meltup’.
Key topics covered:
- Our 2026 base case: stocks rise because of monetary easing and robust earnings growth
- Our bull case: returns are supercharged as European economic growth comes roaring back, growth accelerates in the US, and China is boosted by a far-reaching trade deal
- Our bear case: risks include another wave of tariffs, US job losses, investor disillusionment at AI investment
- We’ve prepared ‘playbooks’ for if an AI bubble forms
Ed also references his video on the investing lessons of 2025, which can be watched here.