After another stellar year for U.S. equities, how should investors position themselves for 2025?

I'm Allison Nathan, and this is Goldman Sachs Exchanges. Today, I have the pleasure of sitting down once again with Charmine Mosovaramani.

Charmine is the chief investment officer of Goldman Sachs wealth management and the head of the investment strategy group.

Charmine and her team recently published their 17th annual outlook in which they share

their investment themes and recommendations for clients.

Charmine, welcome back to exchanges.

Thank you very much, Alison.

And until you said 17th, it hadn't registered that there were that many of them, but yeah,

quite a few.

Time flies.

So let's start at the beginning, as I always like to do,

and talk first about the cover of your piece and the title in particular, which I know you and

your team, put tremendous thought in. I say this every year, but every year it's very true. This

year's piece is entitled, Keep on Truck It. So talk to us about why you chose this title.

As you know, and hopefully many of your listeners already know, U.S. preeminence has been one of our key investment themes.

So we're always trying to convey the message that that investment theme is still valid.

Maybe at some point it won't be, but we can't foresee any such change. So again,

here when we say keep on trucking and we have a big image of something very U.S. oriented,

we're trying to convey the message that U.S. preeminence is intact, and in fact, the U.S.

keeps on trucking ahead of everybody else. And the distance between the U.S. and these other countries just

continues to get longer and longer. Absolutely. You could not have been more right on that theme that

we discussed quite comprehensively last year at this time, but even in prior years. But

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