2026 初步思路（未细化）

Uncle Yaren and Brother Value have both written about it, so I'll follow the trend too. My thoughts on the industry in 2026 can be summarized into five keywords:

1. Automation applications
2. Supply chain restructuring (re-industrialization)
3. Space frontier
4. Digital twins
5. Energy

The previous points were all about active offense, but personally, I will also start increasing allocations to defensive stocks, rare metals, and bonds;

The investment method may not be directly tied to the theme but rather adopts a secondary landing point or even peripheral approach.

1-Automation applications

Chose $UiPath(PATH.US); the view is that it is the best solution for global workflow automation. Besides improving efficiency, it also provides the best solution machines. Simply put, what used to take 100 people can now be done by a few, with ready local deployment.

$UiPath(PATH.US) is an enterprise-level RPA and a leader in robotic process automation. Under the global trend of cost reduction and efficiency improvement, it can be seen as a shovel-type solution provider. Local deployment meets data security and customization needs. There is competition from giants like Microsoft Power Platform. However, UiPath's advantage lies in its focus, mature platform, and large enterprise customer base, making it the optimal solution for full-platform automation. Beyond replacing labor, the integration of AI and RPA, intelligent document processing, and decision automation are the next growth points, along with AI capability integration progress. Recently, PATH has gone beyond just RPA.

2-Supply chain restructuring (re-industrialization)

Chose $Cleveland Cliffs(CLF.US); one of the few remaining steel companies in the U.S., and most importantly, the only vertically integrated industry in the U.S. It has concepts for future themes like infrastructure, grid reform, and re-industrialization. The company was previously at low profitability, chronically inverted, with extremely high safety margins. Contracts are reversing, and a big cycle is expected. Instead of directly investing in infrastructure companies, invest in indispensable and structurally optimized upstream materials.

3-Space frontier

Chose $Redwire(RDW.US) and $Boeing(BA.US); the former has been mentioned many times as the 3M of space, sold in 2021, and now back in. It sells niche shovels, seeing if it can rise again; the latter is not a pure space concept stock but a diversified defense and aviation giant, providing controlled exposure to RDW. Boeing has long-term NASA contracts, SLS rockets, Starliner, and satellite businesses, while its defense business provides a stable base and political hedge. If current debt and delivery issues are resolved, there is huge recovery potential. This balances the growth of the space track with investment safety.

Small rocket companies are good but too hot.

4-Digital twins

Chose $ADT(ADT.US); this also has some opportunistic elements. Google's capture of real-world data has pathway cooperation with ADT, and some Canadian friends report wide network coverage. Many in Hong Kong also use their services. From a security perspective alone, it is undervalued. In today's turbulence, security should also be a defensive theme, plus the potential of the digital twin concept, there is certainty.

Digital twins require massive, real-time, physical-world data as a core premise. ADT, as a leading North American security service provider, has sensor networks and access points in millions of commercial and residential locations, an extremely valuable data asset. As a subscription-based security service, it has stable cash flow and meets my defensive needs.

I think this is a classic case of avoiding value traps. The market may only see it as a traditional security company, overlooking its potential digital asset value.

5-Energy

There are too many good stocks here, and the entire industry chain is too vast to cover. Energy and rare metals should yield profitable picks easily. I recommend checking out Z Lao and other excellent stock masters.

Energy is a vast and structural track, not limited to traditional oil and gas, including:

• Traditional energy: High cash flow companies under capital discipline.
• Energy transition: Grid upgrades, like transformers, smart grids, natural gas as a transition energy, nuclear revival, etc.
• Critical minerals: Lithium, copper, cobalt, rare earths, the new oil of electrification.

ETFs can also be used for sector allocation, or in-depth research into niche leaders in bottleneck segments, like grid equipment, uranium miners, etc.

Defensive part;

For precious metals, last year was basically about rotating allocations between gold and silver based on the gold-silver ratio $SPDR Gold Shares(GLD.US)$iShares Silver Tr(SLV.US); precious metals are hedging tools against geopolitical risks, currency depreciation, and market turbulence. Rotating based on the gold-silver ratio is a professional strategy.

For bonds, chose $iShares barclays 20+ Yr Treasury Bd(TLT.US) held for two years; long-term Treasuries provide capital gains opportunities during economic slowdowns or recessions, benefiting from falling interest rates. Although pressured by rate hikes in the past two years, it's also a future cycle layout. It naturally hedges against offensive stock positions, especially cyclical stocks.

Finally, there's $Unitedhealth(UNH.US), which I've grown attached to. The insurance industry bets on cash flow. If other insurers die, even better—Americans still need healthcare. Health insurance bets on cash flow, with rigid demand regardless of the economy. As an industry leader and consolidator, it's a ballast.

The above views are just my humble, shallow opinions. They are personal views and do not constitute any advice; speculation or investment is dynamic. New industries or things may emerge later, and we can all evolve dynamically and research together.