Looking back at 2025, Hotspot Jun has a deep feeling: this year, we were almost in a state of full emotion when making investments. From the "New King Ascends" at the beginning of the year, to the AI frenzy in the middle of the year, and then to the "Great Bubble Debate" at the end of the year, macro, technology, and emotions took turns, and every hotspot truly affected our decisions. In this article, Hotspot Jun will accompany you to revisit 2025. Macro Trends｜Tariffs, the keyword that cannot be avoided throughout the year If we have to choose one core variable that runs through 2025, it must be—tariffs. January...