BlackRock's Short and Long Term Planning According to the latest data released by BlackRock, future asset allocation is divided into two lines: a 6-12 month tactical (short-term) and a 5-year or longer strategic (long-term). At the tactical level: BlackRock is still betting on the AI mainline, believing that the profits and profit margins of large technology companies are still strong, and their balance sheets are sufficient to support them. Coupled with their expectation of continued loose policies and reduced policy uncertainty in 2026, the conclusion is that they will continue to overweight US equity, with the core being AI and technology. PS: Although there is no explicit mention of cryptocurrency or BTC, from all the data, there is still a certain positive correlation between technology stocks and Bitcoin. If technology stocks strengthen, the Federal Reserve becomes loose, and policy uncertainty decreases, it will also be beneficial for BTC. Overseas, BlackRock believes that the Japanese stock market has a higher priority (nominal growth+corporate governance reform), while Europe only makes structural choices (leaning towards finance, utilities, and healthcare), and instead leans more towards emerging market bonds in fixed income. BlackRock believes that EM's economic resilience and fiscal and monetary discipline are improving. The focus of hedging is not to blindly believe in long-term US Treasury bonds, but to prepare new allocation plans. Among them, gold can be used as a tactical position to absorb fluctuations in emotions, events, or inflation expectations, but BlackRock does not consider gold as the only long-term hedging core. At the strategic level: BlackRock's point is that AI will create clear winners and losers in the industry, so in the future, portfolios cannot rely solely on market capitalization weighted indices. Instead, portfolios should be constructed using scenario based approaches, and more efforts should be made to leverage the private equity market and hedge funds to obtain "non beta returns", making portfolios more stable in the overall trend. In terms of specific asset allocation, BlackRock believes that the valuation and demand structure of infrastructure equity are better, and private loans are still worth allocating, but the differentiation will be greater in the future, so choosing the right manager is more important than choosing the right track. In terms of the public offering market, BlackRock stressed that it should exceed the market value benchmark. Bonds prefer treasury bond in developed markets other than the United States, and stocks generally prefer EM over DM. EM named India, while DM still likes Japan (moderate inflation+reform dividend). PS2: A few days ago, I also talked about the reasons why I am optimistic about India. Interested friends can read it. Address: https://(x.com)/HyrexNi/status/2008223614257283551? s=20 @bitget VIP， Lower rates and more generous benefits