Why a focus on security—touching infrastructure, supply chains and critical minerals—sits at the center of today’s fragmented global landscape, and what it means for long-term investors
SEVERAL DECADES OF GLOBALIZATION are giving way to a more fragmented, competitive world order — one where resilience and control of critical systems like artificial intelligence and cybersecurity increasingly shape economic outcomes. From geopolitical conflict to supply chain disruptions, the forces driving volatility are also leading to new and different long‑term investment opportunities.
“In an increasingly fragmented world, returns accrue to those who control, secure and scale critical systems and technology,” says Haim Israel, head of Global Transition and Thematic Research for BofA Global Research.
In the video above, Israel joins Chris Hyzy, Chief Investment Officer for Merrill and Bank of America Private Bank, to explore how geopolitical volatility is reshaping three key investment themes: defense and security, energy independence and critical minerals — areas that sit at the intersection of national priorities, technological innovation and long-cycle capital investment.
Go deeper with the video, “Six portfolio strategy ideas for 2026.” And for more timely market insights from the CIO, tune in regularly to the Market Update audiocast series.
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The opinions expressed are as of 3/26/2026 and are subject to change. Investing involves risk, including the possible loss of principal.
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The Chief Investment Office (CIO) provides thought leadership on wealth management, investment strategy and global markets; portfolio management solutions; due diligence; and solutions oversight and data analytics. CIO viewpoints are developed for Bank of America Private Bank, a division of Bank of America, N.A., (“Bank of America”) and Merrill Lynch, Pierce, Fenner & Smith Incorporated (“MLPF&S” or “Merrill”), a registered broker-dealer, registered investment adviser and a wholly owned subsidiary of Bank of America Corporation (“BofA Corp.”).
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