In this episode of The Inside Brief, Mark Haefele, global chief investment officer at UBS Global Wealth Management, joins host Manus Cranny for a deep dive on how investors should navigate a world shaped increasingly by power, policy, and long term structural forces rather than short term market headlines.

Mr Haefele reflects on the idea that geopolitical shocks often dominate news cycles but tend to have only brief market effects, while slower moving trends such as technology, government spending, and shifts in global power have a far greater influence on long term portfolio outcomes. He explains why investors must focus on how the world actually works today, rather than relying on assumptions rooted in a past era of free markets.

The conversation explores how governments now play a more active role in directing capital and influencing outcomes, effectively picking winners and losers across sectors. Mr Haefele outlines what this means for asset allocation, sovereign debt, and currencies, cautioning investors against assuming that markets will always operate independently of political objectives.

Mr Haefele also addresses the debate around artificial intelligence and whether markets are facing a bubble. He acknowledges that many companies in the AI space do not yet generate profits and rely on continued access to funding, but argues that this alone does not indicate an imminent collapse. In his view, strong earnings from AI adjacent companies, continuing capital investment, and government support suggest the theme still has momentum, even as risks increase and not all participants succeed.

In a personal reflection, Mr Haefele recounts his experience during the events of 9/11 and how witnessing a decisive trading moment reshaped his understanding of his own strengths as an investor. He explains why recognising what you are not good at can be as important as knowing what you are, and why discipline, humility, and asset allocation matter more than trying to catch every market moment.

The episode concludes with insights from Mr Haefele’s book The New Rules of Investing, where he argues that modern investors must rethink diversification, accept uncertainty, and follow the flow of capital shaped by policy, technology, and power rather than nostalgia for past market regimes.

In this special edition of The Inside Brief from Davos 2026, Waleed Al Muhairi, deputy group chief executive of Mubadala, joins host Manus Cranny to discuss how global investors are navigating a world defined by fragmentation rather than chaos.

With more than $375 billion in assets under management, Mubadala sits at the centre of global capital flows and Mr Al Muhairi explains why long-term conviction, rather than market timing, has become the defining advantage for institutional investors.

Mr Al Muhairi explains that Mubadala’s multi-engine investment model allows capital to move purposefully across private equity, private credit, infrastructure and global partnerships, adapting risk exposure without abandoning long-term strategy.

Mr Al Muhairi also shares his highest conviction views as 2026 begins, highlighting continued opportunity in the US alongside growing allocations across Asia, including South Korea and India.

The conversation explores the evolving role of artificial intelligence in investment decision-making. Mr Al Muhairi reveals that Mubadala now has an AI participant named MAIA in its investment committee process, using counterfactual analysis to challenge assumptions and test conviction.

He describes AI as a force multiplier rather than a bubble, arguing that while valuations will fluctuate, innovation and infrastructure behind AI are only just beginning to reshape productivity.

Looking closer to home, Mr Al Muhairi reflects on Abu Dhabi’s growing momentum as a global capital hub. He describes a powerful shift as families, businesses and financial institutions increasingly relocate to the UAE, creating a self-reinforcing cycle of capital, talent and opportunity. As a long-term steward of national capital, he emphasises the responsibility of investing not only for returns, but for the next generation and the continuing growth of the UAE economy.

In this episode of The Inside Brief, chairman and group chief executive of DP World Sultan bin Sulayem sits down with host Manus Cranny to share his views on global trade and shipping at a time of geopolitical shocks, tariff wars and market volatility.

The head of the global ports operator explains why, from his perspective, physical cargo flows are far more resilient than market sentiment, and why global trade continues to grow despite persistent political uncertainty.

Mr bin Sulayem discusses how DP World approaches countries often defined by political risk − including Venezuela, Iran and Syria − by separating headlines from operational reality.

On Venezuela, Mr bin Sulayem says that DP World knows the market well from past operations and could move quickly when conditions allow. On Iran, he argues that even major regional conflicts have historically had limited impact on maritime trade.

Syria is presented as a different case as DP World has already committed $800 million to Tartus port. Mr bin Sulayem describes the country as having strong long-term potential, given its strategic location and access to regional road and rail networks.

He also reflects on his meeting with Syria's President Ahmad Al Shara, describing him as calm, optimistic and a good listener who is eager to learn and is focused on improving conditions in the country.

The conversation ranges across global growth hotspots, including India, Indonesia, Brazil and the UK, where DP World is expanding capacity. Mr bin Sulayem also argues that China’s economic management is often misunderstood in the West, stressing that scale and stability matter more than headline growth rates.

Turning to Dubai, Mr bin Sulayem reflects on the government's investment in roads, Metro expansion, and rail infrastructure such as Etihad Rail, and how the proximity between the port in Jebel Ali and Al Maktoum International Airport is expected to support future trade growth through seamless sea-to-air connectivity.

Mr bin Sulayem concludes by sharing personal insights into what success means to him, his approach to succession planning and leadership and how a life-threatening horse riding accident − in which he was saved by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai − reshaped his views on time, efficiency and decision making.