This year was nuts both in markets and personally for me. I had testicular cancer. I had surgery on the same day in January that PWL Capital, the firm that I have worked for for 12 years, announced that it had been acquired by OneDigital. My personal news aside, 2025 was a wild ride.

Early in the year it looked like we were in for a bad time, but things turned around and returns in stocks, gold, bitcoin, and real estate were not what anybody was expecting. Avantis Investors announced they are launching Canadian listed ETFs through CIBC, likely in 2026, and ETF slop became a prominent feature of the Canadian ETF market.