Meta's May 27 AGM defeated every shareholder proposal — the AI-data-governance measure topped out at ~27%, and even the world's largest fund couldn't move it. Three signals for universal owners: the stewardship ceiling, the proxy-season AI pattern, and AI debt concentrating in investment-grade credi
UAO Research · May 29, 2026 · Stewardship, Governance & Risk · Feeds: The Universal Owner Risk Radar A universal owner holds the AI build-
Every AI-governance proposal lost, the biggest fund couldn't move it, and one chart.
A five-minute cinematic scenario film on de-dollarization, the gold pivot, and the next reserve order. Read the full flagship report alongside it.
The dollar's share of world reserves just fell below 57% for the first time since the 1990s. We model where the monetary order goes next — and what a universal owner should do about it. A cinematic + paid-grade scenario report.
Transcript This is The Probability Desk, from Universal Asset Owners — base cases, tail risks, and second-order effects, for capital that thinks
The Probability Desk — Friday, May 29, 2026 Base cases. Tail risks. Second-order effects. For capital that thinks in decades. Desk View,
The market is pricing a smooth Hormuz reopening. For universal owners the question is not the oil trade but the third-, fourth- and fifth-order consequences — and an escalation tail the market is fading. A live, sourced scenario.
A worked, illustrative example of the Probability Desk report standard — provenance box, weak-signal card, consensus gap, tripwire ladder and transmission map, on one scenario.
A six-minute cinematic companion to the Probability Desk's flagship scenario report on the Hormuz disruption — base 55% / upside 30% / tail 15% — and what it reprices for long-duration capital.
The Probability Desk assigns a 55% probability that CalPERS' Q1 mega-cap AI rotation persists through year-end. What that signals for long-duration allocators on concentration, benchmark, and rebalancing risk.