Welcome to Capital in Transition
We are living through a privilege of history — to witness the kind of global change last seen in the fall of Rome. The challenge for investors is to navigate this uncertainty while protecting and grow
The world is changing faster than most of us realize. Old assumptions about U.S. power, global trade, and financial stability no longer hold. A new order is emerging — but it’s not yet clear who will lead it, or how the rules will be rewritten.
Capital in Transition exists to help investors make sense of this historic shift. On the main site, capitalintransition.com, you’ll find long-form essays on scenarios through 2035 and the investment theses that grow from them. This newsletter is the companion — shorter, timely reflections delivered directly to your inbox.
What you can expect here:
Clear analysis of geopolitics and economics as events unfold.
Updates on how current news fits into our long-term scenarios.
Investment implications, from defense and tech autonomy to commodities, gold, and currencies.
For now, the newsletter is free. Future premium editions may include deeper research and portfolio notes, but the goal is the same: to help you protect your capital and spot opportunities in a rapidly changing world order.
I’m glad to have you on board. Please share this with a friend or colleague who would value a clear-eyed perspective on where the world is heading.
— Gerhard