Welcome to this Christmas episode of On the Couch.In this special edition, Henry Jennings sits down with Adam Dawes from Shaw and Partners to reflect on what investors have learned from 2025 – and, more importantly, what themes and stocks are worth watching in 2026.Adam is a long-time friend of the podcast and a regular guest across major media outlets, known for his experience, insights, and practical investment wisdom.This episode is all about stocks and the big-picture themes that could shape the year ahead.Disclaimer: This is general advice only. It doesn't take your personal circumstances into account. Please speak to a licensed adviser before acting on anything in this episode.Looking for personal financial advice? Our friends at Clime Investment Management offer tailored advice and financial planning services across most states. Learn more: marcustoday.com.au/about-us/financial-planning-with-clime/Prefer someone to invest for you? The Marcus Today Managed Strategy Portfolio applies the same strategy we write about daily – but we manage it for you, using Australian-listed ETFs and a long-term growth approach. Find out more: marcustoday.com.au/managed-portfolios/Want to take control of your own investing? Start a free 14-day trial of the Marcus Today newsletter and get daily insights, analysis, and model portfolios designed for self-directed investors. Sign up here: marcustoday.com.au/trial-sign-up/

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