ADAM STRATEGY | Reflationary Agentic Boom 2026

The 2026 regime is characterized by the "Reflationary Agentic Boom". This paradox features high nominal growth driven by AI productivity shocks ("Agentic Alpha"), concurrent with sticky inflation driven by fiscal dominance and geopolitical fragmentation.

Capital will flow violently into two extremes:

1. The Builders: Sovereign AI infrastructure and energy grids.
2. The Hard Assets: Bitcoin and commodities as hedges against debasement.

The middle ground—unprofitable tech and consumer discretionary—will be hollowed out by the "Maturity Wall."