Welcome to 2023, dear Kopi Time followers! We kick off the new year with a chat on markets with seasoned trader and strategist, Archana Parekh, head of Asia Equities, ex-Japan, Balyasny Asset Management. We begin the discussion on the inevitability of market selloff in 2022, dragged by rates increases and lofty valuations. Archana does not think the highly correlated selloff across asset classes reflected much more than the fact that during the run-up in recent years, all asset classes had rallied with high correlation as well. We then talk about her broadly constructive outlook for equities in 2023, around Fed policy pause, China re-opening, and a fairly stable energy market. Yet, Archana does not see a major bull market ahead, given the numerous macro, geopolitical, and regulatory uncertainties in place. We then drill down to US tech, China tech, and Japan tech, each with their potential upside and idiosyncratic risks. We touch on frontier technologies and innovations, going over opportunities around them. Archana then weighs in on the age-old question of active versus passive investing, pointing out that one approach does not fill all investors. We conclude by talking about women in finance, something she supports passionately. Her inclination to look at opportunities calmly and constructively, even as big picture challenges mount, is heartening.