The launch of U.S.–Israeli military operations against Iran on the final day of February triggered a significant and broad-based repricing of global risk assets in March. The Strait of Hormuz — through which approximately 20% of global oil and liquefied natural gas supply transits — became the central flashpoint.
Patience is perhaps the most cited virtue in long-term investing — and yet it is rarely tested in quite the way the past 12-18 months have been.
Different parts of the market have been pulled in different directions simultaneously: energy surged while technology retreated; defensives lagged while cyclicals briefly led; geographies...
These observations are drawn from Insync’s senior analyst walking Shanghai’s, Beijing’s and Shenzen’s malls and street retail, visiting stores, and speaking directly with founders, operators and industry experts. What they point to is not a cyclical slowdown in luxury, but a structural reset in how Chinese consumers think, behave and spend.
For years, the debate around autonomous vehicles has been framed incorrectly. The question has been: when will AI fully replace the human driver? But the real story is far more profound and far more investable.
