# 132 - Reviewing Our 2025 Macro Forecast - Spoiler: We Nailed It!

Page: https://stenobird.com/podcast/roaming-returns-6576992/132-reviewing-our-2025-macro-forecast-spoiler-we-nailed-it
Text version: https://stenobird.com/podcast/roaming-returns-6576992/132-reviewing-our-2025-macro-forecast-spoiler-we-nailed-it.md
Podcast: [Roaming Returns](https://stenobird.com/podcast/roaming-returns-6576992)
Published: 2025-11-28T01:00:00+00:00
Episode link: https://rss.com/podcasts/roamingreturns/2527338
Audio file: https://content.rss.com/episodes/371411/2527338/roamingreturns/2026_02_06_16_14_33_6afe057f-4cf5-4033-a1c2-0a20faeb56a3.mp3
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JSON: https://stenobird.com/v1/public/podcasts/roaming-returns-6576992/episodes/132-reviewing-our-2025-macro-forecast-spoiler-we-nailed-it
Duration seconds: 2734

## Resource

This week, we’re reviewing the 2025 macro predictions we made back in December 2024 — and the results are honestly insane. We identified nine major macro trend themes heading into 2025 (plus a “miscellaneous chaos” category), and in this episode we break down exactly how each played out — the hits, the misses, and the monster trends that shaped the entire year. 🔥 BIG THEMES WE COVER: 1. Nuclear Energy We predicted a massive boom… and it actually happened. Nuclear went from policy talk to full-scale implementation. Old plants reopened, new ones broke ground, and nuclear ETFs hit triple-digit gains at their peak. 2. Electric Utilities Another home run. Utility stocks — the “boring ones” — saw year-to-date gains of 18% to nearly 40% thanks to the AI energy arms race. 3. Oil & Gas Right prediction, weird execution. Policy shifted, but OPEC responded with a full-on oil glut, keeping prices suppressed around $60. Cheap gas kept inflation muted, but energy stocks lagged. 4. Artificial Intelligence Hardware → application shift? Nailed. AI exploded across every sector, with Nvidia smashing earnings and multiple companies integrating robotics, automation, and new infrastructure. 5. Data Storage & Infrastructure Growth? Way above expectations. The data center boom is underway, and the best part is — the move hasn’t even peaked yet. 6. REITs (especially mREITs) We predicted mREITs would outperform equity REITs. Correct. Interest rate timing was messy, but the year still favored mortgage REITs by a wide margin. 7. Healthcare/Biotech A mixed bag. R&D exploded thanks to AI, but big pharma lagged. 2026 looks promising for targeted healthcare plays. 8. BDCs Everyone else said they’d boom. We said, “Nope, not this year.” And we were right. But 2026? They look loaded. 9. Finance & Cr…

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## Transcript

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