4th Quarter 2025
Key takeaways
► Third year of double-digit returns for stocks
► Most fears did not play out
► A.I. dominated again
► Fed cut three times
► Stock rally broadening out
► Staying the course in 2026

Key takeaways
► Third year of double-digit returns for stocks
► Most fears did not play out
► A.I. dominated again
► Fed cut three times
► Stock rally broadening out
► Staying the course in 2026