This week: 2025 ended on high for the US stock market but no one seems too pleased with its performance. <a href="https://bsky.app/profile/did:plc:zxqezqfhjwidbrsvk66ded57">Felix Salmon</a>, <a href="https://www.elizabethspiers.com/">Elizabeth Spiers</a>, and <a href="https://www.axios.com/authors/epeck">Emily Peck</a>, unpack the story of the US markets in 2025, why it was outperformed internationally, and the role AI has  played. Then, the hosts discuss how, amid the uncertainty and chaos of Trump’s trade war, Mexico has found a way to come out on top. And finally, 2025 saw a boom for dealmaking with $2.4 trillion in global mergers and acquisitions. Meanwhile, old fashioned conglomerate Berkshire-Hathaway is changing hands with Warren Buffett stepping down at the age of 95. Will the new CEO keep with Buffett’s conservative investment strategy?
In the Slate Plus episode: Food52 & Saks Run Out of Cash
Want to hear that discussion and hear more Slate Money? Join Slate Plus to unlock weekly bonus episodes. Plus, you’ll access ad-free listening across all your favorite Slate podcasts. You can subscribe directly from the Slate Money show page on<a href="https://podcasts.apple.com/us/podcast/slate-money/id876523888"> Apple Podcasts</a> and<a href="https://open.spotify.com/show/2AgxNbNcUOckZSww9mk8mX"> Spotify</a>. Or, visit<a href="https://slate.com/podcast-plus?utm_medium=link&utm_campaign=plus_pod&utm_content=Money&utm_source=episode_summary"> slate.com/moneyplus</a> to get access wherever you listen. 
Podcast production by Jessamine Molli and Cheyna Roth.
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