Outlook 2026: Han Dieperink (Auréus)

December 18, 2025

Outlook

^{This text was originally written in Dutch. This is an English translation.}

By Han Dieperink, Chief Information Officer, Auréus

What are the economic prospects for 2026?

‘The year 2026 marks an acceleration in economic history. While artificial intelligence is revolutionising business models and promising unprecedented productivity gains, the global economy is still struggling with the aftermath of a decade of monetary experiments, trade tensions and geopolitical shifts. This is the era we live in: technological progress goes hand in hand with economic uncertainty, globalisation clashes with protectionism, and central banks balance between stimulus and stability.

For investors, this new reality creates both challenges and opportunities. US equity markets are likely to reach new heights, driven by a handful of technology giants that account for three-quarters of all market returns. At the same time, interesting opportunities lie hidden in sectors that everyone has written off: from pharmaceuticals to basic materials. The dollar remains king against all expectations, the upward phase in gold is followed by the inevitable correction, and the November 2026 midterm elections are casting their shadow ahead.

For the sensible investor, the solution lies in a disciplined “average in, average out” strategy. After all, it is impossible to time the peak of a bubble. This does not mean that you should abruptly dump all technology stocks, which would be throwing the baby out with the bathwater, but rather that you can gradually reallocate your portfolio to attractively valued segments outside the IT sector. This approach recognises both the potential of AI and the risks of overconcentration. By gradually taking profits on overvalued positions and reinvesting them in undervalued sectors, you can build a more balanced portfolio without running the risk of completely missing out on the final phase of the boom.