Jacob Wackerhausen/iStock via Getty Images Welcome to 2026 As always, the January Absolute Return Letter is about issues that are at the forefront of my mind – risks that keep me awake at night because they could have a profound impact on portfolio returns, should they come to fruition. And, as always, I shall be the first to admit that the true sledgehammer – the one which could wipe out vast amounts of wealth – is likely to come out of the blue. Take for example COVID-19. Did anyone plan for the pande ...