Weekly note: thoughts on what might happen in 2025

Some asset allocaiton and macro thoughts alongside investment implications. Plus, a quick spin through the watchlist

Programming note: This is just a reminder that we’re on weekly notes this week. We'll be back to normal service next week (w/c 6th Jan), and then we’ll be off again the week after that (Jan 13th) as I travel to what I hope will be sunny Vietnam!

Also, I hope you all had a great Christmas break. Thank you for reading the letters over the last year. Your s…