Global Wealth Summit 2026: Aletheia's Jonathan Wilmot Sees Possible End to Four-Decade Bull Market

Market Update: Global Equity Markets May Be Approaching Final Stage of Long Bull Cycle

Aletheia Capital's Global Strategist, Jonathan Wilmot, presented a market outlook at the Moneycontrol Global Wealth Summit 2026, suggesting that global equity markets may be nearing the end of a long bull cycle that began in 1982.

According to Wilmot, the current market cycle still has room to run but may face another significant decline before it ends. The long rally has seen two extended bull phases over the past four decades, and there may be at least one major decline to come.

Wilmot noted that financial markets continue to face multiple conflicting forces, leading to a tendency toward overshooting and exaggeration. To navigate this environment, investors managing private wealth must balance competing objectives, including growing capital, preserving capital, and funding income.

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A common mistake made by individual investors is getting overly enthusiastic during market cycles, which can lead to poor decision-making. To mitigate this risk, a new approach is being explored: a rules-based ETF strategy that adjusts equity exposure during market stress.

This innovative strategy, set to launch as an ETF in the United States in May, uses macro signals to outperform equities while allowing investors to remain invested in the market. By temporarily reducing exposure during periods of volatility, this approach aims to provide a more stable investment experience.

Key Figures:

• 1982: The year the long bull market began
• May: The month the new ETF is set to launch in the United States
• Aletheia Capital: The company employing Global Strategist Jonathan Wilmot

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