Equity Mates Investing Podcast War in Iran, AI Disruption & the Software Selloff: Where Todd Hoare sees Opportunity
Mar 9, 2026
Todd Hoare, Head of Public Markets at LGT Wealth Management, brings decades of global investing experience across Australia, New York and Hong Kong. He discusses geopolitics and market reactions, why AI-driven disruption can be bullish, which types of software face real risk, real-world AI productivity wins in logistics and finance, and how to build portfolios that last generations.
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AI Disruption Is A Net Reallocation Not Annihilation
- AI-triggered disruption is bullish because it scorches inefficient incumbents and enables a net redistribution of value across the economy.
- $3 trillion of software market cap fell while global equity market cap rose $5 trillion, signaling reallocation not destruction.
On-the-Ground Anecdote From Abu Dhabi
- Todd spoke with his sister in Abu Dhabi who reported daily life largely continuing despite regional attacks.
- She described drones being shot down and casualties mostly from debris rather than widescale disruption.
Geopolitics Often Prices Quickly Then Reverts Higher
- Markets typically rally 3–12 months after major geopolitical shocks because initial moves price much of the risk.
- Tactical tilts are possible short term, but long‑term allocation shifts require data confirming sustained disruption.