Episode 218 - Marks on the Market: Iran, AI, and a Dynamic Market Environment | Brian McClard & Matt Monson

Marks on the Markets: Geopolitics, AI Disruption & Where Smart Capital Is Moving in 2026

Host Richard Cunningham is joined by co-host John Coleman and market experts Matt Monson (Public Equities, Sovereign's Capital) and Brian McClard (CIO, Blue Trust) for the March 2026 edition of Marks on the Markets. With Operation Epic reshaping global energy dynamics, AI rewriting the rules of markets and labor, and private equity at a critical inflection point, this panel of seasoned investors offers grounded, faith-driven perspective on navigating one of the most complex macro environments in recent memory.

Key Topics Discussed:

• The geopolitical and market implications of Operation Epic in Iran — and what it means for global oil supply and the Strait of Hormuz
• Why 75% of S&P 500 gains over the past three years came from just 41 AI-linked stocks — and why that era may be ending
• Small cap vs. large cap: the longest large-cap outperformance streak in 100 years, and why the rotation may finally be here
• AI and the labor market: separating fear-driven headlines from real economic data
• Private markets outlook — where to be bullish, where to exercise caution, and the private credit warning signs

Notable Quotes:

"If you were to take $600 billion in capex spending in 2026 amongst four companies… that's $300 billion worth of brand new depreciation that will flow through income statements for those four companies combined that needs to be offset with brand new AI profit." — Matt Monson

"Godliness with contentment is great gain… it's so easy to get wrapped around the axle with what we have or don't have and how we're progressing at building our own people." — Brian McClard

"What would it look like to answer the question before you get asked the question? You say, here I am, send me — and then you wait and see where he's gonna send you." — Matt Monson

About the Guests:

Matt Monson leads Public Equities Investing at Sovereign's Capital, bringing deep analytical rigor to faith-aligned portfolio construction across small, mid, and large cap markets.

Brian McClard is Chief Investment Officer at Blue Trust, a wealth management firm built on biblical principles, advising high-net-worth individuals and families on stewarding capital with eternal perspective.

John Coleman is co-host of the FDI Podcast, a principal writer on human flourishing at HBR, and author of the newly released Good Money — a framework for integrating money, investing, giving, and spending around a flourishing life.