<div id="readability-page-1"><div><div><p><strong>2025 was a very good year for US equities.</strong> according to Goldman Sachs head of hedge fund coverage, Tony Pasquariello, who says he went back-and-forth on the word choice here, but concluded that<strong>&#34;very good&#34; seems consistent with S&amp;P delivering a solidly double-digit return, and one that’s squarely above the long-term average</strong>.</p></div></div></div>

<p>2025 was a very good year for US equities. according to Goldman Sachs head of hedge fund coverage, Tony Pasquariello, who says he went back-and-forth on the word choice here, but concluded that"very good" seems consistent with S&P delivering a solidly double-digit return, and one that’s squarely above the long-term average.</p>

A Final Take On 2025 From Goldman's Hedge Fund Honcho