Right now, it's easy to get anxious about where markets are headed. Uncertainty reigns. Looking ahead to 2026, it's tempting to draw similarities between the notorious 1920s and our current tempestuous decade. As was the case during the Roaring Twenties, we're coming out of a pandemic in an environment of rapid technological change. And it's likely that new investments will drive a surge in productivity, very similar to the productivity jump observed back then. Yet, as we explain in our latest 5-year outlook, we see crucial differences compared to a century ago. | 
