Seeking Catalysts Amid Complexity: Navigating Markets Heading Into 2026
On Wednesday, January 14, 2026, financial planning professionals gathered at Orinda Country Club for Goldman Sachs Investment Outlook 2026: Seeking Catalysts Amid Complexity. Hosted by FPA East Bay in partnership with the CFA Society of San Francisco, the lunchtime program featured Jennifer Guenther, CFA, Vice President and Senior Market Strategist at Goldman Sachs Asset Management.
Making Sense of a Complex Global Landscape
Jennifer Guenther opened the session by addressing the reality advisors are facing as they move into 2026: a market environment shaped by uncertainty, rapid change, and competing macro forces. Central bank policy divergence, global trade realignment, persistent fiscal pressures, geopolitical shifts, and the accelerating impact of artificial intelligence are all influencing how risk and opportunity are emerging across asset classes.
Rather than focusing on short-term predictions, Jennifer framed the conversation around identifying potential catalysts, the forces that could meaningfully shift markets and drive returns despite ongoing complexity.
From Macro Forces to Portfolio Implications
Throughout the presentation, Jennifer connected global trends to practical portfolio considerations. She discussed how differing central bank paths could affect rates, currencies, and equity leadership, and how trade and supply chain changes continue to reshape regional and sector opportunities. The growing role of AI, capital investment, and innovation was highlighted as a long-term driver of productivity and market leadership, while concentration risk in public markets remained an important theme.
Jennifer also explored where private markets, alternative strategies, and diversified allocations may play a role in supporting alpha and managing volatility as advisors position portfolios for a wide range of possible outcomes.
Photos Courtesy of Jeron Silva / JPSfilmssf
Key Takeaways from the Event
Catalysts Matter More Than Headlines
Advisors were encouraged to focus on underlying drivers such as policy shifts, easing cycles, and renewed deal activity rather than reacting to daily market noise.Diversification Remains Critical
With concentration risk elevated in public markets, thoughtful diversification across asset classes and strategies continues to be essential.AI and Investment Spending Are Structural Themes
Innovation and capital investment tied to AI and infrastructure are shaping long-term market leadership and opportunity.Macro Uncertainty Requires Flexibility
Positioning portfolios for multiple scenarios allows advisors to remain resilient as economic and geopolitical conditions evolve.
Engaged Discussion and Advisor Perspectives
The event concluded with thoughtful discussion and questions from attendees, reinforcing the value of stepping back from day-to-day market movements to assess broader trends. Advisors appreciated the balanced perspective, combining macro insight with actionable considerations they can apply when working with clients early in the year.
Continuing Education
This program was eligible for CFP CE credit, supporting advisors’ ongoing professional development.
Special Thanks to Our Sponsor
FPA East Bay extends sincere thanks to our event sponsor for making this program possible:
Clay Selland, Signet Reverse Mortgage
Clay E. Selland, CPA
Certified Reverse Mortgage Professional
Licensed in CA, OR, WA, ID, MT, UT, AZ, CO
NMLS #183492
Phone: (925) 807-1503
Email: [email protected]
We thank Jennifer Guenther for sharing her insights and all who attended for contributing to a strong and engaging discussion.
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