Core Insights - The growth in 2026 is expected to be driven primarily by an AI-driven industrial cycle, with significant capital investments from major tech companies in both China and the U.S. [1] - The market is currently in a phase of striving towards General Artificial Intelligence (AGI), with uncertainties regarding which traditional industries will be disrupted and which new industries will emerge [1] - The Federal Reserve is focused on providing stable financial conditions to support the ongoing tech revolution, which may lead to continued strong performance of tech assets in 2026 [1] Investment Strategy - A long-term perspective and a firm mindset are essential for investing in U.S. and Chinese tech assets [2] - Identifying other high-quality, low-correlation return streams to hedge against tech asset volatility is crucial [2] - The core investment strategy for 2026 may revolve around a combination of technology and Commodity Trading Advisors (CTA) [2] CTA Performance - CTA managers have shown varied performance in 2025, with some achieving returns exceeding 40% due to high volatility in precious metals [3] - CTA funds with neutral strategies have also performed well, with returns over 20% [3] - During significant market pullbacks, certain CTA managers maintained stable performance, highlighting their risk-hedging capabilities [4] Current Market Environment - The current low-interest-rate environment enhances the appeal of CTA's absolute return characteristics [5] - Global factors, including the Fed's continued rate cuts and changing trade dynamics, may trigger commodity market rallies, benefiting CTA products [5] - The AI technology revolution is expected to drive new economic growth, but it may also introduce volatility in capital markets [6][8] Asset Allocation Considerations - Investors should focus on the long-term significance of AI tech assets while also considering strategies to hedge against short-term volatility [8] - The combination of technology and CTA may provide a balanced approach to capturing opportunities in 2026 [9] - Each asset class has unique roles, and a diversified approach may enhance the potential for returns while managing risks [9]