Geopolitical tension and supply shocks have the world rethinking globalization.

Today, in 2026, we face new challenges, opportunities and disruptions because of globalization, as geopolitical tensions and
supply shocks have the world rethinking trade flows. Our fall issue of The Analyst investigates the impacts and realities of living in
a globalized world, exploring the theme of “Global Markets” and gleaning insights into emerging trends and issues impacting the
world of finance.

Does it seem like “1 in 100” events aren’t rare anymore? Do constant news cycles make us hyper-aware that events once seen as extreme now feel uncomfortably familiar? Our cover story shares insights into portfolio design for uncertainty and protection, diversification and the critical roles of behavioural analysis and governance.

Our feature stories examine a dynamic approach to portfolio construction and regimeaware investing during structural market shifts, explore capital rotation and how flows shift across asset classes throughout economic regimes and delve into the evolution of fixed income beyond a buy-and-forget portfolio allocation.

The Analyst’s quarterly book review offers modern examples and applications to explore the uncanny relevance of John Kenneth Galbraith’s 1990 book, A Short History of Financial Euphoria, more than 35 years after its initial publication.

We also analyze expert perspectives and strategies regarding oil price shocks and the impacts of increasing global energy demands. Lynn Wang, CFA, this issue’s featured charterholder profile, speaks to the profound influence mentorship and volunteerism have had on her career, as well as her transition from a corporate role into one centred in entrepreneurship and empowerment.

Our AI Watch article examines how AI adoption is shaping the financial industry and offers predictions on the industry’s future AI focus. Finally, Rohit Mehta’s interview from episode 4 of Diverse Dividends, The Analyst’s video podcast series, speaks to leadership and passion, the importance of thoughtful branding and three pivotal trends poised to transform the financial industry.

We hope this issue provides perspective on the reality of globalization’s impact on our industry. As always, thank you for reading.

Joanna Wolff, CFA
Portfolio Manager, Sionna Investment Managers
Chair of Editorial Committee, Editor in Chief, The Analyst
CFA Society Toronto