Welcome to our Year-End market outlook review with our Chief Market Strategist, Dr. James Thorne.

In this special 20-minute video, Dr. Thorne joins Trent and Keith to reflect on a remarkable year in the markets and share his outlook for 2026. They start by revisiting 2025’s key developments, including the S&P 500 nearly hitting Dr. Thorne’s ambitious 7,000-point target, Canada’s strong performance driven by metals, and the unexpected 20% correction following U.S. tariff announcements. Dr. Thorne explains how these events disrupted historical market cycles and what they mean for investors moving forward.

Looking ahead, Dr. Thorne offers an optimistic perspective on 2026. He highlights the Federal Reserve’s plans to cut rates and expand liquidity, drawing parallels to supply-side policies of the 1980s that fueled extended market gains. He shares actionable insights on where to allocate capital, emphasizing early-cycle opportunities in U.S. sectors such as regional banks, homebuilders, and consumer stocks, while noting potential risks in Canada tied to leverage and trade negotiations.

The conversation also explores transformative themes shaping the future, including the AI investment cycle, Bitcoin’s role as digital scarcity, and gold’s enduring value as a hedge. Dr. Thorne discusses why AI remains in its early stages, why Bitcoin’s recent correction may present opportunity, and why gold could reach $5,000–$6,000 by decade’s end. Finally, they touch on energy markets, forecasting short-term oil challenges but a recovery later in the year, and the importance of diversification across energy sources.

Watch the full video to see what Dr. Thorne thinks about AI’s growth potential, Bitcoin as a hedge against monetary expansion, and his forecast for oil prices—and discover what he believes will shape the markets in 2026.