The past year presented a unique set of challenges for investors navigating volatile financial markets. Investors faced concerns from geopolitical crises and supply chain issues, to the great resignation and the Federal Reserve raising interest rates several times in an effort to counter the highest inflation in four decades. Despite the challenges of 2022, the State of Wisconsin Investment Board remained committed to its long-term investment strategy that aims to keep annuity adjustments and contribution rates stable, and meet the benefits promised to over 660,000 Wisconsin Retirement System participants. So how did SWIB's strategy weather the volatility of the past year, and what trends will continue to shape the 2023 landscape? In this episode of The SWIB Podcast, we welcome back SWIB Executive Director and Chief Investment Officer Edwin Denson. We'll talk to Edwin about what he and his team experienced in the past year as they negotiated these choppy markets. We'll also speak about some of the global events that made headlines and impacted investors in 2022 and discuss what to expect as we start the new year.