Simon discusses the emergence of "grey swans": potentially impactful events that have been considered but only lightly so and not adequately discounted in market prices. He comments on the latest around Venezuela and possible ripple effects. He also shares some timeless lessons re-learned from last year's market behavior and frames the current economic and stock market backdrop. He highlights the recent rotation out of Technology/AI into other areas of the market and argues for proper portfolio balance.

WIG Stocks: None

Non-WIG Stocks: None

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