Our Thoughts

James Anadon 7/24/25 James Anadon 7/24/25

Better than expected outcomes - Revisited

As we've highlighted in past outlooks, we firmly believe we are still in the midst of a long-term secular bull market that began in 2009 and was confirmed in 2013. This trend remains intact, and we believe it could extend into the early 2030’s — potentially even 2035—driven by macroeconomic and demographic tailwinds.

James Anadon 1/31/25 James Anadon 1/31/25

Up and to the right?

There’s no doubt that 2025 will bring both expected and unforeseen risks. But on the flip side, there are also many promising opportunities ahead.

The current, administrations potential policies on tariffs, taxes, immigration, government spending, Business regulation, inflation, and views on interest rates do have potential positive effects.

Assuming they can all get done together and quickly.

However, if not, they can be considered foreseen risks in their own right. The unforeseen risks, however, are what we put our best foot forward to prepare for.