Monthly Letter | 11 December 2025 | Chief Investment Office GWM, Investment Research
UBS House View
Monthly Letter | 11 December 2025 | Chief Investment Office GWM, Investment Research
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will take place on 16 December. Join here or watch the replay. This report has been prepared by UBS AG.
Please see important disclaimers and disclosures
at the end of the document. New Year’s resolutions
As a new year approaches,
we believe investors should focus on strategies to build robust portfolios for the future. Now is a good time to review financial plans and put cash to work.
Investors can build a strong
core by getting the right mix across stocks, bonds, and alternatives, and rebalancing regularly. Hedging strategies can help navigate risks.
With a strong core portfolio
and hedging strategies in place, investors looking for additional growth can seek new tactical opportunities across asset classes.
Attractive, and see growth
opportunities in AI, Power and resources, and Longevity. We also favor quality bonds and com modities, including gold.
In 2025, I picked up new terms like DeepSeek, Gemini 3, economic statecraft, and
involution to keep pace with a rapidly changing world. Yet while there will be many new ideas and words to stay on top of in 2026, now is a good time to con sider the timeless principles that can guide portfolio decisions in the new year. In keeping with my annual tradition, here are five New Year’s resolutions that I believe can help investors cut through the noise and build robust portfolios for the future. 1. Take stock: Review your plan 2. Get moving: Put cash to work 3. Build resilience: Strengthen your core 4. Sleep better at night: Hedge market risks 5. Seize the moment: Seek tactical opportunities
Whatever your goals for the coming year, I hope the resolutions explored in this
letter will help you build a robust portfolio for 2026 and beyond. We wish you a happy holiday season and a prosperous year ahead. 1. Take stock: Review your plan “A goal without a plan is just a wish.” This quote is as true for one’s finances as it is for any other part of life. a. Clarify and prioritize what matters most to you It can be tempting to start a financial plan by digging straight into the numbers.
But since money is often just a means to an end, an effective financial plan also
needs to involve reviewing and clarifying its objectives.
New words, timeless ideas
2 December 2025 UBS House View Monthly Letter
