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In this quarter’s investment commentary, Chief Investment Strategist Chris Battifarano reflects on the importance of disciplined risk management amid heightened policy changes, political uncertainty, and evolving global dynamics. Drawing upon lessons from market history and the late Peter Bernstein, we encourage diversification, and long-term perspective over emotional, short-term oriented decisions. Chris reviews key market developments from 2025 and outlines potential risks and opportunities for the year ahead, including fiscal policy, monetary leadership changes, valuation concerns, and the accelerating trend toward deglobalization.