Factsheet | 2Q25
- Kunal Mashruwala
- Jul 18
- 1 min read
The only word that comes to mind when describing this quarter was violence. Whether in the context of global markets, courtesy the uninspiring Trump Tariff wars; whether in the context of geopolitical flashpoints between India-Pakistan, Israel-Iran and Russia-Ukraine.
Amidst this violence, it is fairly apparent that we are becoming numb and number. As humans. As market participants. Corporate insiders stock sales reached all-time highs while the retail casino juggernaut “bought the dip” again, generating one of the strongest momentum rebounds in history.
As I have been mentioning over the last few quarters, expect the Trump Uncertainty Factor (TUF) along with rich valuations amidst a potential for higher inflation to create volatility in markets. Prudent risk control will continue to matter meaningfully over the next few quarters, especially when a single post swings the market 5% in either direction on any given day.
Please review the 2Q25 factsheet for more details.
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