In this episode, we sit down with Emily Needell to unpack a truly remarkable start to 2026, one that may go down as one of the most eventful quarters in recent memory. What began as a near “Goldilocks” environment, with improving economic data, falling rates, and long-awaited market broadening quickly evolved into something far more complex. We explore three defining themes of the quarter: the early-year macro strength that fueled optimism around a broader market rally, the sharp unwind in mega-cap AI leaders that left many investors lagging behind despite improving breadth, and the sudden geopolitical shock from the Iran conflict that reshaped everything.

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