THE FEARLESS INVESTOR’S 2025

What We Got Right, What Surprised Us, and What 2026 Now Demands.
Welcome to Fearless Investor
If you want investing insights grounded in macro fundamentals, risk systems, and real-world strategy — you’re in the right place.
Subscribe to Fearless Investor to get every deep dive delivered weekly.
Subscribe
The Fearless Investor’s 2025
Every year, investors learn two lessons:
- The world does not move in straight lines.
- You need a system that adapts faster than your emotions.
2025 delivered both reminders.
It was a year defined by contradictions: strong consumer spending but weakening confidence… equity rallies overshadowed by liquidity tightening… AI breakthroughs colliding with energy shortages.
Investors who chased narratives got hurt.
Investors who followed structure got rewarded.
Below is our annual review — what mattered, what surprised us, and the signals shaping 2026.
What We Got Right in 2025
Energy wasn’t a trend — it was the constraint.
https://fearlessinvestor.substack.com/p/the-real-risk-why-ignoring-50-years
https://fearlessinvestor.substack.com/p/beyond-bitcoin-the-new-era-of-tokenized
https://fearlessinvestor.substack.com/p/digital-gold-rush-20-what-bitcoin
The real AI bottleneck wasn’t compute — it was power.
Inflation didn’t fall the way people expected.
Headline cooled. Core stayed sticky.
This was predictable — and we said so early.
https://fearlessinvestor.substack.com/p/burning-contradictions-macro-mayhem
https://www.macromashup.com/p/the-fourth-turning-playbook-gen-z
Private credit + real assets continued outperforming.
Quietly, consistently, structurally.
Liquidity drove markets more than stories.
Liquidity explained nearly every “unexpected” market move.
https://www.macromashup.com/p/liquidity-crunch-fiscal-dominance
https://neilwinward.substack.com/p/ai-for-investors-strategic-benefits
https://fearlessinvestor.substack.com/p/beyond-bias-real-wealth-requires
What Surprised Even Us
AI adoption moved faster than any forecast.
This wasn’t hype — it was operational transformation across industries.
Supply chains remained structurally fragile.
Geopolitics, shipping, and cyberattacks kept pressure high. Reshoring sounds great, but the hard work of resetting has only just begun.
Retail investors improved dramatically.
More macro-awareness
Less leverage
Better fundamentals
Less meme-driven behavior
A meaningful shift.
Retail just continued buying the dip—they were proved right.
What Most Investors Missed
Silent concentration risk in indices.
Portfolios got dramatically more top-heavy without people noticing.
Real yield became a true anchor again.
Short duration returned as a high-signal risk tool.
Energy + infrastructure became necessity plays, not value plays.
Systems beat predictions.
2025 rewarded automation, discipline, and risk rules.
Not guesswork.
To Continue Reading: Upgrade to Fearless Investor Premium
This is where the actionable, high-signal guidance begins.
In the premium version of this report, we break down:
- The 5 biggest investing lessons of 2025
- Where asymmetric opportunity exists going into 2026
- The 2025 → 2026 macro handoff and how to position for it
- The Fearless Investor Model Allocations for 2026
- The risk traps most portfolios will fall into next year
- The Fearless Investor 2026 Playbook Index
- A complete Q1 2026 portfolio priority checklist
If you want the full analysis that shapes our own positioning, upgrade to Fearless Investor Premium.
👉 Subscribe to Fearless Investor Premium to unlock the full report and every premium deep dive.

.avif)









