Group 1 - Cathie Wood believes that markets may be underestimating the potential changes in 2026, suggesting a "Goldilocks year" where growth accelerates while inflation decreases significantly [1][2] - Wood predicts that inflation could potentially drop to zero or even turn negative if key components like oil prices and rents continue to decline [3] - The macro reset thesis indicates strong growth without inflationary pressure, which historically supports risk assets after prolonged tightening cycles [4] Group 2 - The Federal Reserve's pivot in early 2019, after a tightening cycle, restored investor confidence and led to a broad risk-on shift across global markets, benefiting equities and alternative assets [5] - If inflation decreases while economic growth remains stable, markets are expected to react quickly and aggressively to this shift, which is a key signal Wood is monitoring [6] - The crypto market is facing a significant near-term stress test with the expiry of approximately $27 billion in Bitcoin and Ethereum options, which could lead to increased volatility [7]