AI has captured the market’s imagination, but inflation may prove the more persistent test.

Transformative technologies can create extraordinary long-term winners, but history shows that innovation-led booms often bring overvaluation and painful capital losses when too much capital chases too many opportunities at the wrong price.

AI matters. But even the strongest investment themes can become risky when enthusiasm leaves little margin of safety.

Meanwhile, the forces that helped keep inflation low for decades are beginning to unwind. Inflation may not dominate headlines like AI, but it remains one of the greatest threats to long-term purchasing power.

In this month’s Markets in a Nutshell, Linda Eedes explores why valuation discipline, inflation resilience and portfolio diversification still matter.

Despite ongoing conflict in the Middle East, increased oil prices and persistent trade tensions, global markets continued to move higher in May - driven largely by the ongoing AI investment boom.

In this episode of Markets in a Nutshell, Linda Eedes focuses on what matters from here.

She explores how the AI race is reshaping global markets, why deglobalisation may keep inflation structurally higher and what these shifts could mean for diversified investment portfolios.

After a volatile March, global markets rebounded sharply in April – even as geopolitical tensions escalated and inflation pressures continued to build.

In this episode of Markets in a Nutshell, Linda Eedes focuses on what matters from here.

She explores the macroeconomic backdrop shaping global markets, the risk of inflation staying higher for longer and why now is not the time for investor complacency.

March was a reminder of how quickly market optimism can unravel. The beginning of the month was defined by hopes that inflation had been tamed and would start to fall. But by mid-March, the escalation of the Israel-American conflict with Iran triggered an inescapable disruption the world over. Linda Eedes unpacks this shift and its immediate and far-reaching consequences on global markets during March and beyond in this episode of Markets in a Nutshell.

In February 2026, the S&P 500 stalled while international markets surged, outperforming the US by the widest margin since 2009. From ‘AI scare trades’ to US policy uncertainty, investors are questioning the long-held assumption of US dominance.

Investment professional Linda Eedes unpacks why capital is shifting toward Europe, Asia and a resilient South Africa, and why gold – not US Treasuries – is the hedge of choice in the current geopolitical storm.

January started with a geopolitical bang, and the world’s risk premium rose - forcing markets to price a world in which alliances appear more transactional and institutions more exposed to politics. In this month’s Markets in a Nutshell, investment professional Linda Eedes recaps January 2026, from equity gains amid tensions to sharp commodity reversals. Volatility reminded us that crowded trades can unwind with little notice, underscoring the value of diversification, liquidity and fundamentals. The key lesson? Preparation matters more than prediction: deploy capital with discipline as opportunities broaden across regions and sectors.

Rate cuts and resilient growth defied recession fears in 2025. Global equities delivered their strongest year since 2019, with European and emerging markets outperforming the US by double digits. Commodities surged to record highs. Linda Eedes reflects on a remarkable year of unexpected outcomes – and why misbehaving markets remain the greatest certainty as investors step into 2026.

Markets paused in November as US equities stayed flat, tech underperformed, and gold soared while Bitcoin slumped. South Africa rallied on supportive conditions, while China remained under pressure. Linda Eedes explains why diversification—blending growth with defensiveness—remains key for resilience in uncertain times.

Foord Founder Dave Foord joins Investment Professional Linda Eedes to discuss the major structural forces shaping markets over the next five years. They explore why politics now dominates economics, the unsustainable debt path of the US and Europe and the 'big train smash' coming in the private credit market.

In our monthly podcast, 'Markets in a Nutshell', Linda Eedes breaks down October's market dynamics. She explains why cyclical mining shares pulled back sharply despite rising gold prices and addresses the AI investment frenzy. Linda discusses the impressive, consistent returns of the Foord Balanced Fund and outlines why we are focused on deploying capital into low-debt, high-quality SA Inc businesses to ensure smooth, steady real returns for long-term wealth building.