Jul 23, 2026 · 22 min · 14 segments
David Osman of IRF is joined by Ron William, the Founder of RW Advisory. In this podcast Ron assesses the underlying cyclical trends in the global financial markets and highlights those sectors and…
Ron WilliamGuest
David OsmanHost
Ron, to start, when you assess the underlying trends in the global financial markets in the first half
Which trends seem strongest and most resilient, at least for now, and which trends are likely to weaken or even reverse during the remainder of this year?
At RW Advisory, we distinguish between structural and tactical trend because markets rarely move in a straight line.
Structurally, we remain constructive on AI infrastructure, precious metals and strategic commodities.
where business, market, and secular cycles are aligning alongside fiscal expansion, geopolitical fragmentation, and investment in energy and digital infrastructure.
Markets have recovered strongly from the geopolitical shock past, but our RW advisory market timing model suggests that sentiment and positioning are becoming stretched.
increasing the probability of a counter rotation between what we refer to as greed and fear assets.
Now, briefly, on the greed side, South Korea's recent correction may be an early signal that AI risk appetite is cooling, potentially broadening leadership beyond the Mecca cap technology names.
On the fear side, oil is recovering from oversold conditions, while gold has found strong support around 4,100, creating selective buy-on-the-dip opportunities.
And finally, overall, our cycle work suggests volatility is likely to reawaken in Q3 here and now.
The long-term themes remain intact, but we believe the next phase will increasingly reward active cross-asset allocation, relative value investing and disciplined market timing.
Ron, to start, when you assess the underlying trends in the global financial markets in the first half
Which trends seem strongest and most resilient, at least for now, and which trends are likely to weaken or even reverse during the remainder of this year?
At RW Advisory, we distinguish between structural and tactical trend because markets rarely move in a straight line.
Structurally, we remain constructive on AI infrastructure, precious metals and strategic commodities.
where business, market, and secular cycles are aligning alongside fiscal expansion, geopolitical fragmentation, and investment in energy and digital infrastructure.
Markets have recovered strongly from the geopolitical shock past, but our RW advisory market timing model suggests that sentiment and positioning are becoming stretched.
increasing the probability of a counter rotation between what we refer to as greed and fear assets.
Now, briefly, on the greed side, South Korea's recent correction may be an early signal that AI risk appetite is cooling, potentially broadening leadership beyond the Mecca cap technology names.
On the fear side, oil is recovering from oversold conditions, while gold has found strong support around 4,100, creating selective buy-on-the-dip opportunities.
And finally, overall, our cycle work suggests volatility is likely to reawaken in Q3 here and now.
The long-term themes remain intact, but we believe the next phase will increasingly reward active cross-asset allocation, relative value investing and disciplined market timing.
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