2025 Year in Review: Shades of Grey

Twelve months ago, Greymantle published a 2025 outlook that attempted to map a world drifting toward instability, illusion, and overconfidence. Some of those calls landed squarely on target. Others missed. A few arrived in that territory analysts prefer not to linger in—the grey zone, where you are directionally right, tactically wrong, and forced to explain yourself. This year-in-review does exactly that.