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Jan 08 2026

Three-Peat & The Risky Trinity

  • Jan 8, 2026

SPX pulled off a rare three-peat in 2025, returning +15%-plus for three consecutive years. What often follows is much higher volatility. Yet, strong returns alone do not cause major volatility events. Today’s bigger risk is the unprecedented convergence of three long-running themes: AI, Bitcoin, Private Credit.

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About The Author

Chun Wang / Sr. Research Analyst & Co-Portfolio Manager

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