Ryan Knudson

And what's the lesson there?

So what's your high-level prediction for 2026?

You went into 2025 thinking the market was maybe going to have a lower performance year.

Do you think that's going to be the case this year?

There's a lot already going on in 2026, though, that I wonder if it affects your thinking.

There's Venezuela.

There's the drama at the Fed and the questions about what's going to happen to interest rates.

There's concern about an AI bubble.

Does any of that make you think about changing your strategy?

I want to drill in on the AI bubble specifically.

When people talk about is there an AI bubble, is there not, there's certainly controversy around that.

People in the AI industry certainly don't.

But what's your take when you just look at the valuations of those stocks?

Also, just like with any new giant technology that seems extremely promising, there often is a lot of investment because everyone's trying to get in on it.

And then, you know, there's a shakeout to figure out who the real winners and losers are.

I mean, you know, look at the internet bubble, which not wrong, but just still a bubble.

Do you think the AI bubble could be like the dot-com bubble in 2000?

So we got, I want to turn to some questions that we got from the audience about how to invest in 2026.

We got this question from Renan Ulrich who asks, what's the low volatility sleep well at night investment portfolio?

Basically, what's the safest thing you can do this year?