Financier №2 (42) 2026

Yefim Kolodkin,

Managing Partner at AIYA BUREAU (premium interior architecture bureau) and serial entrepreneur

I’m dealing with high‑net‑worth clients in the UK, Georgia and the UAE. In recent years, real estate has stopped being a universal wealth button. For Gen Z, buying a home is more expensive, and mobility is often more important than being tied to an address. So instead of buying one property “for good”, they opt for a diversified portfolio with varying risk levels. This may include Shared Ownership: purchasing a small share of a property while renting the remaining space, with the option to gradually increase one’s ownership stake.

“Market” formats are also growing: group purchases, syndicated investments in flipping (where several investors buy an undervalued asset, renovate it and resell for a profit), and shared ownership of holiday properties — where owners pre‑book their weeks, and a management company administers and rents out the property the rest of the time. In some markets — for example, Dubai — there are transactions settled in cryptocurrency, using legal conversion and licensed providers. If you’ve already chosen a property, check the following: micro‑location (surrounding area, views, noise and safety levels); purpose of purchase (for personal use or rental); layout (ergonomics directly affect liquidity); finishing quality (calm colour palettes, durable natural materials, proper lighting and functional layouts usually outlast trends and hold their value better).

 

Jay Woods,

Chief Global Strategist at Freedom Capital Markets

The main difference between millennial and Gen Z investors and their predecessors is access to technology. When I started, there was no way to trade from a phone, as there is now. Nor was there such a volume of readily available information. The younger generation is better informed and has a keener market sense. Different crises have affected investor behaviour in different ways. The dot‑com bubble had a rather short‑term impact: people got burned and temporarily left the market. The 2008 financial crisis had a deeper impact on the investment community. Those who lived through it — especially those aged 37–45 — understand what a prolonged bear market and real risks look like. These market participants tend to be more cautious. The most pronounced and long‑lasting effect came from the COVID‑19 pandemic. People stayed home, received funds and entered the market. There were overheats (the GameStop and AMC stories), but crucially, investors stayed in. Today, many are shifting from speculation to long‑term strategies. 

Crises teach us that the market grows in the long run. Mistakes are inevitable, but they provide the best experience. If I had to pick three principles to follow when starting an investing career today, they would be diversification first and foremost. First, it would be worth choosing an index, like the S&P 500, where the strong hold and the weak fade. 

Second, flexibility is key: invest in what you understand, but be prepared to change your mind if trends shift. 

Third, prioritize the long term: invest regularly and take advantage of compound interest. The best advice is to save a portion of your income and continually use it to purchase stocks.

 

Sergey Kudryavtsev,

CEO of Witte VC, investor

At Witte, we share BlackRock’s view: 2026 is becoming “less like a casino and more like an investor’s market”. Consistent returns go to those who bet on high‑probability scenarios and choose assets with predictable cash flows and historical returns — not those chasing short‑term trends.

For high‑risk‑appetite investors, potential remains in direct investments in private companies (private equity), private and venture debt, secondary market deals, where assets can be found at 10–70% discounts.

AI hype is largely priced into valuations already, but opportunities remain in infrastructure. The five largest US hyperscalers plan to invest around $720 billion in data centres in 2026 alone, and demand for such projects will grow over the next 3–5 years — including in CIS and Asian markets.

For more conservative investors, gold and industrial metals remain relevant. In 2026, gold exceeded the share of US Treasuries in central bank reserves for the first time in 30 years. Silver and copper are trading at all‑time highs, though a repeat of copper’s strong growth (+44% in a year) is unlikely.

Undervalued small‑ and mid‑cap stocks also remain promising. According to Morningstar, they trade at up to 23% below fair value. Since early 2026, the small‑cap segment has outperformed the S&P 500 index (6% vs 1%), offering a rare combination of low valuation and fundamental quality.

 

Murat Abdrakhmanov,

Founder of MA7 Ventures (venture fund)

Today’s business angels are primarily entrepreneurs who naturally transition into investors. Experienced senior executives and startup founders also often enter venture investing. The average age of participants in these funding rounds is 35–45 years. People over 50 often avoid such high‑risk projects. Venture investments have become several times more popular in recent years. However, we recommend allocating no more than 10% of total assets to them. 

The rise of artificial intelligence is a true tectonic shift affecting all areas of venture investment: volumes have tripled compared to last year. About 75% of funding now goes into AI. Due to this, our fund has also changed its strategy: previously, we entered projects at the seed stage (developing the first product version, market research), but now we get involved earlier, as startups are developing very rapidly.

We now invest only in AI projects. Colossal changes for the economy as a whole are coming. AI adoption is far outpacing expectations. We look for models with global potential and pay close attention to the founder’s profile — not just their technical knowledge, but also industry expertise and entrepreneurial experience.

 

Andrey Gorobchenko,

CEO of AIYA BUREAU, investor

I started actively buying art over a year ago and have already invested €35 000. I’ve noticed that long‑time collectors have a genuine desire to feel, understand, find answers and enjoy art. Even if you come with a clear “investment goal” in mind, the usual advice is: we’ll look for suitable works, but buy only what resonates and pleases you, regardless of numbers. Money here is more of a nice add‑on. Ideally, of course, you want an art investment to pay off both in the 2–3‑year horizon and over 7+ years. Over the long term, prices align with fair market value; in the short term, there can be hype, marketing and noise. In art — as in any investment — don’t follow fads.

In contemporary art, collectors are getting younger: more people aged 25–40 can afford to buy works, build collections, develop their identity and display status. However, economic trends clearly affect the art market. For example, Sotheby’s sales of young artists have dropped 2.5 times over the past three years.

For me, “bought with the heart” means having no doubts after the purchase. Pleasure, interest and willingness to invest time in the process are qualities that help one become a good art investor.

 

Alexander Abramov,

Professor at RANEPA, capital markets expert

Gen Z entered life in a difficult time: social mobility has stalled, and markets have become more volatile. As a result, young people take long‑term savings less seriously, preferring to spend here and now. Social media influence their decisions. However, over time, many innovations lose their shine — not everything lives up to expectations. In Russia, the influencer idea is collapsing; influencers sometimes turn out to be mere manipulators. In the US, this happened a bit earlier with the meme stock market.

Private investors’ money is mostly in semi‑passive mutual, exchange‑traded and pension funds. Broad diversification, careful asset allocation and avoiding the temptation of market timing* still dominate. The US offers an amazing variety of cheap and accessible mutual and ETF strategies for almost any financial market scenario. Thanks to this, private investors weathered the 2020 and 2022 shocks relatively easily.

*A trading strategy based on timing the purchase or sale of a particular financial asset

A dangerous trend is financial markets falling into the orbit of K‑economy (characterised by divergent sector movements – Ed.). Serving the interests of wealthy individuals increases inequality, which creates significant risks for Gen Zers. A few stand to gain, while the rest lose money, losing trust in the markets where they lost. We need to democratize financial markets and develop financial business models that would enable the majority of Gen Zers to become long-term investors.