I joined CNBC’s Closing Bell panel to dig into what’s really driving markets right now and how we’re positioning client portfolios for the next phase of this cycle.

During my recent appearance on CNBC, I discussed whether the recent pullback in oil prices and recovery in equities could provide a positive tailwind for markets, or if the overhang of an extended war still looms over investors. The duration of the war will matter most: the longer the conflict drags on, the more it can disrupt supply and ultimately put upward pressure on oil prices, which feeds into broader volatility.

I talked about my view that we could see a 10–20% drawdown this year and whether that’s primarily due to geopolitical disruption. My answer: it’s not just one factor. A new Fed chair, contentious midterms, and ongoing geopolitical unrest all contribute to a more volatile backdrop, and investors need to be prepared for meaningful swings in both directions rather than a straight line up.

Lastly, we discussed why I still like Uber here despite higher gas prices and questions around consumer spending. Uber has done a strong job growing free cash flow, with use up year-over-year, and its partnership with NVIDIA adds another positive dimension to the long-term story around technology and AI integration in its platform. In an environment marked by uncertainty, I’m focused on businesses that are improving their fundamentals and strengthening their strategic positioning.

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