Jeff Park

Yeah, 2026 is the year of the ideological investor in my mind.

And for those who have read my substack that I posted last year, I wrote about the rise of the ideological investor pitted against the death of the intelligent investor, meaning Benjamin Graham's version of investing is long dead.

We are moving to a world where ideology is everything, attention is everything.

How people want to position across three different categories of meta is going to mean whether they make it or they don't make it.

And the three metas that I chose were one, geopolitics,

two, AI, and three, culture.

And all of those three in the first week of January have hit.

Geopolitics, man, what a thing to wake up to one day and realize that Maduro has been captured and brought to New York overnight.

That is geopolitics right there.

And that theme is going to stick with us for a long time because we are re-underwriting the death of the Washington Consensus.

And so already people are thinking about what does this mean?

If Venezuela is potentially a protectorate of the U.S., it may or may not be there in the long run, but

Energy companies are finding renewed interest.

I think there's several companies that had operated in Venezuela, America known, that are still demanding reparations for how they were treated.

There's billions of dollars on the sideline.

I believe ConocoPhillips is actually one of them who are intended to kind of capture a big chunk of that litigation claim.

So these are the things that are now catalysts in driving valuation models.

It's really not DCFs, it's what's in the news.

What is happening with strategic interests?

Where are the flows going?