Sandeep Tandon, CIO of Quant Mutual Fund, described 2025 as a psychologically challenging year for investors due to extreme valuations and uneven market gains. He emphasized the importance of emotional control and avoiding momentum chasing, noting that many portfolios, particularly in mid and smallcaps, suffered despite record highs in indices. Tandon warned that getting caught at the peak of market cycles can have significant psychological and financial impacts, affecting investor understanding and portfolio construction.