The global markets have experienced significant volatility in 2026, with certain trades rewarding investors while others have faced punitive outcomes. CNBC gathered insights from six investors about the major risks they see and how they are adjusting their portfolios. A common theme among their responses was the emphasis on diversification beyond the most successful investments of the year.
### Fading U.S. Exceptionalism
Chris Rush from IBOSS highlighted the risks of being overly concentrated in past winners, particularly U.S. equities, which dominate many portfolios. He noted that U.S. exceptionalism is diminishing, compounded by increasing debt among tech giants. To mitigate risk, Rush suggests diversifying into real estate investment trusts, UK equities, and stocks from Asia and emerging markets.
### Managing Specific Volatility
Ben Kumar from 7IM discussed the challenges of navigating volatility, noting that while winners and losers have fluctuated, diversification has been essential. He advised against excessive concentration in any one sector, emphasizing a broad approach to exposures.
### Warning Against Complacency
Ben Seager-Scott from Forvis Mazars warned of the complacency that may develop around geopolitical tensions and inflationary pressures. He recommended adjusting equity risks and diversifying from mega-cap tech stocks into more traditional U.S. stocks.
### Interest Rate Policy Challenges
Charlie Ambler from Saltus identified an “uncomfortable trade-off” for policymakers between managing inflation and ensuring financial stability, suggesting a broadening of portfolio exposures across various asset classes to prepare for potential missteps by central banks.
### The Impact of AI Investment
Billy Leung from Global X ETFs noted the dual risk factors of geopolitical unrest and the rapid pace of AI infrastructure investment. He suggested that this influx of capital could impact the equity market, potentially leading to a rotation away from traditional infrastructure investments towards companies with more immediate cash flow.
Overall, the consensus among these investors is to emphasize diversification and caution in an unpredictable market landscape.
